M&A market in Spain grows by 8% in 2024
According to the annual report published by TTR Data in collaboration with the law firm A&O Shearman España, the Spanish transactional market has registered in 2024 a total of 3,473 mergers and acquisitions, between announced and closed, for an aggregate amount of EUR 95,791m. These figures represent an increase of approximately 8% in the number of transactions and approximately 11% in their amount, compared to 2023.
Real estate, the most active sector in 2024.
In terms of sectors, real estate is the most active sector of the year, with a total of 646 transactions, and has registered a 2% decrease compared to 2023; followed by the internet, software and IT services sector, with 330 transactions and a year-on-year decrease of 4%.
Cross-Border
With regard to the cross-border market, Spanish companies chose Portugal, the United States and Italy as their main investment destinations during the year, with 70, 60 and 53 transactions, respectively. In terms of amount, the United States is the country in which Spain has made the largest disbursement, with an aggregate amount of approximately EUR 4,945m.
On the other hand, the United States (241), France (200) and the United Kingdom (163) are the countries that made the greatest number of investments in Spain during the year. By amount, the United States stands out, with an aggregate amount of approximately EUR 13,383m.
Private equity and venture capital
In 2024, a total of 430 private equity transactions have been recorded, of which 105 have an aggregate non-confidential amount of EUR 27,620m. This represents a 4% increase in the number of transactions and a 48% increase in their amount, compared to the previous year.
In the venture capital market, 658 transactions were carried out, of which 508 had an aggregate non-confidential amount of EUR 3,407m. In this case, there was a 4% decrease compared to 2023 in the number of transactions and a 2% decrease in the capital raised.
Asset acquisitions
In the asset acquisition market, 915 transactions were closed during the year for an amount of EUR 15,772m, which implies an increase of 2% in the number of transactions and 61% in their amount, compared to 2023.
Ranking of legal advisors
In terms of the ranking of legal advisors in the 2024 M&A market by amount, Garrigues Spain, Uría Menéndez Spain, and A&O Shearman Spain lead with EUR 30,857m, EUR 30,698m, and EUR 18,408m, respectively.
By number of transactions, Garrigues España ranks first, with 207 deals advised, followed by Cuatrecasas, with 198 transactions, and Uría Menéndez, with 139 transactions.