The Spanish transactional market closes the first six months of the year with a total of 1,228 mergers and acquisitions, between announced and closed, 20.27% more than in the first half of 2020, according to the quarterly report of TTR in collaboration with Intralinks. The aggregate amount of the operations adds up to a total of 56,981 million euros, which represents an increase of 21.33% compared to the same period in 2020.

In sectoral terms, real estate is the busiest of the year, with a total of 257 transactions, with an increase of 11% compared to the first quarter of 2020; followed by the technology sector, with 225 operations and a year-on-year increase of 14%, and the financial and insurance sector, which registered an increase of 23%, registering 91 operations.

Regarding the figures for the second quarter of 2021, a total of 607 transactions with an aggregate amount of 24,508.72 million euros.

With regard to the international market, so far this year, Spanish companies have chosen as the main destinations for their investments: United States and Portugal, with 29 and 26 transactions, respectively. In terms of amount, France is the country in which Spain has made the highest disbursement, with an aggregate amount of 5,888.64 million euros.

On the other hand, USA, with 85 operations, the United Kingdom, with 69, and France, with 55, are the countries that have made the largest number of investments in Spain. By amount, the United States stands out, with an aggregate amount of 13,806.40 million euros.

Private equity y venture capital

In the first six months of 2021, a total of 111 transactions were recorded in the market for ‘private equity’, of which 26 have an aggregate non-confidential amount of 9,442 million euros. This represents an increase of 52.05% in the number of transactions and a 28.24% increase in the amount of the same with respect to the same period of the previous year.

On the other hand, in the market of ‘venture capital’ 284 transactions have been carried out, of which 227 have an aggregate non-confidential amount of 3,726 million euros. In this case, there has been an increase compared to the first half of 2020 of 15.92% in the number of transactions, and 3.54% in the capital mobilized.

In the asset acquisition market, 350 transactions with an amount of 5,013 million euros were closed in the first half of the year, which implies an increase of 17.45% in the number of transactions and an increase of 18.05 % in its amount with respect to the same period of 2020.

Quarterly evolution

In the second quarter of 2021, TTR has selected the financing round carried out by Glovo, valued at 450 million euros, as a noteworthy transaction. The operation has been advised by the legal party by Cuatrecasas; Latham & Watkins y Clifford Chance.

The ranking of financial advisers in the market M&A of the first quarter of 2021 by number of transactions is led by Arcano Partners, with eight operations, while the ranking by amount is led by Citigroup, with 10,368.83 million euros registered.

Regarding the ranking of legal advisers in the M&A market, it is led by number of transactions Garrigues Spain with 58 operations, while by capital mobilized Cuatrecasas Spain is in first place, with 12,131.65 million euros registered.

Source: Market Research Telecast