By Maria Fernandez- Picazo, Javier de Rojas
If 2017 was a record year for the private equity industry in Spain in terms of monetary volume (€5bn, an increase of 30 per cent compared with 2016) and number of transactions (715 – a 15.6 per cent rise) involving 596 companies (up 28 per cent), the
forecast for 2018 is no less favourable. The Spanish private equity association, ASCRI, estimates investment in the first semester to be in the region of €3bn in 334 deals. Even though this figure is slightly lower than that recorded for the same period in 2017, the association expects to see a new record in 2018, considering the number of transactions already announced. International funds have been active in this period, accounting for 77 per cent of invested volume, showing the appetite for the Spanish market.
Although the period was marked by four mega-deals (above €100m in equity invested), mid-market transactions also hit an historic high. A lower level of intensity is being seen in fundraising and divestments, but a number of funds are on the home straight in closing the fundraising process, which will probably impact year-end figures.