Drivers of Spanish M&A

From declining volumes to evolving sector dynamics, the Spanish M&A market in 2025 reflects the same global pressures seen across Europe, yet continues to stand out for its relative strength. With a more resilient economy and steady growth, Spain has weathered macroeconomic headwinds better than many of its peers, maintaining investor interest despite tighter conditions.
 
Javier Gonzalez, Head of Greenhill Iberia, explores the drivers behind Spain’s performance and what’s shaping dealmaking activity through this year.
 
Javier highlights the continued role of private equity as a key source of momentum, with newly raised funds actively seeking to deploy capital. He also examines consolidation trends across the TMT sector, and how disciplined valuations are influencing deal structures and investor appetite.
 
Discover expert insights and global perspectives from Mizuho | Greenhill, your bank for M&A.