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Cover Image Jorge Lucaya
Jorge LucayaAZ Capital

Jorge Lucaya

Co-CEO at AZ Capital

Financial Advisor

Madrid

Deal Bio

Total Deals39
Valued Deals25
Total Value£ 63.11 B
Avg. Deal Size£ 2.52 B

Market Context

Awards

2023 Top Energy & Power Bankers in EMEA
2023 Top Investment Bankers in Spain
2022 Top Investment Bankers in Spain
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22 Feb 2018|United States|Gas Distribution
Gas Natural
Cvc Capital Partners

Target: GAS NATURAL

Bidder: CVC CAPITAL PARTNERS

15 Service Providers

1 Target | 13 Bidder | 1 Vendor

47 Dealmakers

3 Target | 34 Bidder | 10 Vendor

£ 2.73 B

Value

18 Oct 2017|Spain|Toll Roads
Abertis Infraestructuras
Hochtief

Target: ABERTIS INFRAESTRUCTURAS SA

Bidder: HOCHTIEF AG

53 Service Providers

13 Target | 39 Bidder | 1 Vendor

171 Dealmakers

31 Target | 140 Bidder | 1 Vendor

£ 33.74 B

Value

10 Sep 2019|Ireland|Telecommunications infrastructure
CIGNAL
Cellnex Telecom

Target: CIGNAL

Bidder: CELLNEX TELECOM SA

7 Service Providers

1 Target | 5 Bidder | 1 Vendor

32 Dealmakers

3 Target | 27 Bidder | 2 Vendor

£ 187 M

Value

18 Sep 2019|Spain|Security Equipment
Prosegur (alarm Business)
Telefonica

Target: PROSEGUR (ALARM BUSINESS)

Bidder: TELEFONICA SA

3 Service Providers

2 Bidder | 1 Vendor

4 Dealmakers

3 Bidder | 1 Vendor

£ 44 M

Value

08 Oct 2019|United Kingdom|Telecommunications Equipment
Arqiva (telecoms Division)
Cellnex Telecom

Target: ARQIVA (TELECOMS DIVISION)

Bidder: CELLNEX TELECOM SA

9 Service Providers

4 Bidder | 5 Vendor

112 Dealmakers

16 Bidder | 96 Vendor

£ 2.00 B

Value

06 May 2019|Italy|Telecommunications infrastructure
Iliad Tower (france And Italy)
Cellnex Telecom

Target: ILIAD TOWER (FRANCE AND ITALY)

Bidder: CELLNEX TELECOM SA

8 Service Providers

5 Bidder | 3 Vendor

34 Dealmakers

21 Bidder | 13 Vendor

£ 1.70 B

Value

02 Jan 2020|Portugal|Telecommunications infrastructure
OMTEL
Cellnex Telecom

Target: OMTEL

Bidder: CELLNEX TELECOM SA

15 Service Providers

8 Bidder | 7 Vendor

39 Dealmakers

23 Bidder | 16 Vendor

£ 682 M

Value

14 Apr 2020|Portugal|Telecommunications infrastructure
Nos (telecom-tower Business)
Cellnex Telecom

Target: NOS (TELECOM-TOWER BUSINESS)

Bidder: CELLNEX TELECOM SA

11 Service Providers

8 Bidder | 3 Vendor

25 Dealmakers

21 Bidder | 4 Vendor

£ 327 M

Value

27 Apr 2020|United Kingdom|Tobacco
Imperial Brands (premium Cigars Unit)
Gemstone Investment Holding

Target: IMPERIAL BRANDS (PREMIUM CIGARS UNIT)

Bidder: GEMSTONE INVESTMENT HOLDING

8 Service Providers

1 Bidder | 7 Vendor

37 Dealmakers

16 Bidder | 21 Vendor

£ 1.07 B

Value

26 Feb 2020|France|Telecommunications Equipment
Bouygues Telecom (french Ftta And Ftto Network)
Cellnex Telecom

Target: BOUYGUES TELECOM (FRENCH FTTA AND FTTO NETWORK)

Bidder: CELLNEX TELECOM SA

8 Service Providers

4 Bidder | 4 Vendor

21 Dealmakers

13 Bidder | 8 Vendor

£ 837 M

Value

23 Oct 2020|Poland|Mobile
Play Communications
Cellnex Telecom

Target: PLAY COMMUNICATIONS

Bidder: CELLNEX TELECOM SA

12 Service Providers

1 Target | 6 Bidder | 5 Vendor

52 Dealmakers

3 Target | 32 Bidder | 17 Vendor

£ 724 M

Value

20 Oct 2020|Spain|Paints and Coatings
Industrias Titan
Akzo Nobel

Target: INDUSTRIAS TITAN

Bidder: AKZO NOBEL NV

5 Service Providers

1 Target | 1 Bidder | 3 Vendor

3 Dealmakers

1 Target | 1 Bidder | 1 Vendor

n/a

Value

12 Nov 2020|Switzerland|Telecommunications infrastructure
Ck Hutchison Holdings (european Telecom Towers)
Cellnex Telecom

Target: CK HUTCHISON HOLDINGS LTD (EUROPEAN TELECOM TOWERS)

Bidder: CELLNEX TELECOM SA

24 Service Providers

15 Bidder | 9 Vendor

144 Dealmakers

77 Bidder | 70 Vendor

£ 8.94 B

Value

09 Nov 2020|Spain|Food Products
Angulas Aguinaga
Pai Partners

Target: ANGULAS AGUINAGA

Bidder: PAI PARTNERS

12 Service Providers

2 Target | 6 Bidder | 4 Vendor

20 Dealmakers

3 Target | 12 Bidder | 5 Vendor

n/a

Value

05 Oct 2020|Spain|Internet
METROCALL
Cellnex Telecom

Target: METROCALL

Bidder: CELLNEX TELECOM SA

3 Service Providers

2 Bidder | 1 Vendor

3 Dealmakers

2 Bidder | 1 Vendor

n/a

Value

23 Jul 2020|Finland|Telecommunications Services: Other
EDZCOM
Cellnex Telecom

Target: EDZCOM

Bidder: CELLNEX TELECOM SA

3 Service Providers

1 Target | 2 Bidder

4 Dealmakers

1 Target | 3 Bidder

n/a

Value

21 Jan 2021|Netherlands|Telecommunications Equipment
T-mobile Infra
Cellnex Netherlands

Target: T-MOBILE INFRA BV

Bidder: CELLNEX NETHERLANDS BV

6 Service Providers

1 Target | 2 Bidder | 3 Vendor

23 Dealmakers

17 Target | 2 Bidder | 4 Vendor

£ 222 M

Value

03 Feb 2021|France|Telecommunications infrastructure
Hivory
Cellnex Telecom

Target: HIVORY SAS

Bidder: CELLNEX TELECOM SA

21 Service Providers

1 Target | 11 Bidder | 9 Vendor

40 Dealmakers

1 Target | 20 Bidder | 19 Vendor

£ 5.38 B

Value

26 Feb 2021|Poland|Telecommunications infrastructure
Polkomtel Infrastruktura
Cellnex Telecom

Target: POLKOMTEL INFRASTRUKTURA

Bidder: CELLNEX TELECOM SA

13 Service Providers

7 Bidder | 6 Vendor

39 Dealmakers

12 Bidder | 27 Vendor

£ 1.38 B

Value

02 Mar 2021|Spain|Food Products
Copesco & Sefrisa
Pai Partners

Target: COPESCO & SEFRISA

Bidder: PAI PARTNERS

5 Service Providers

1 Target | 4 Bidder

7 Dealmakers

1 Target | 6 Bidder

£ 35 M

Value

17 Mar 2021|Spain|Health Care Services
Itacare Asistencial
Korian

Target: ITACARE ASISTENCIAL SL

Bidder: KORIAN SA

6 Service Providers

1 Target | 3 Bidder | 2 Vendor

17 Dealmakers

1 Target | 11 Bidder | 5 Vendor

n/a

Value

29 Jul 2021|United Kingdom|Information / Data Services
Cancom Uk&i
Telefonica Tech

Target: CANCOM UK&I

Bidder: TELEFONICA TECH

9 Service Providers

1 Target | 5 Bidder | 3 Vendor

21 Dealmakers

1 Target | 5 Bidder | 15 Vendor

£ 337 M

Value

21 Sep 2021|Netherlands|Food Products
Gbfoods Africa
GBFOODS

Target: GBFOODS AFRICA

Bidder: GBFOODS

7 Service Providers

4 Bidder | 3 Vendor

19 Dealmakers

12 Bidder | 7 Vendor

n/a

Value

14 Sep 2021|Spain|Outsourced HR and Staffing
SEPROTEC
Nazca Capital

Target: SEPROTEC

Bidder: NAZCA CAPITAL

8 Service Providers

3 Target | 5 Bidder

9 Dealmakers

7 Target | 2 Bidder

n/a

Value

01 Jul 2021|Spain|Digital Services
Altostratus Cloud Consulting
Telefonica

Target: ALTOSTRATUS CLOUD CONSULTING

Bidder: TELEFONICA SA

3 Service Providers

1 Target | 2 Bidder

4 Dealmakers

1 Target | 3 Bidder

n/a

Value

01 Dec 2021|Spain|Renewable Energy Equipment
Grupo Gransolar
Trilantic Capital Partners

Target: GRUPO GRANSOLAR

Bidder: TRILANTIC CAPITAL PARTNERS

7 Service Providers

5 Target | 2 Bidder

28 Dealmakers

26 Target | 2 Bidder

£ 361 M

Value

21 Mar 2022|France|Telecommunications Equipment
Cellnex (3200 Sites In France)
Phoenix Tower International

Target: CELLNEX (3200 SITES IN FRANCE)

Bidder: PHOENIX TOWER INTERNATIONAL LLC

8 Service Providers

4 Bidder | 4 Vendor

34 Dealmakers

19 Bidder | 15 Vendor

n/a

Value

21 Apr 2022|Portugal|Telecommunications Equipment
Nos Sgps (350 Towers And Rooftop Sites)
Cellnex Telecom

Target: NOS SGPS SA (350 TOWERS AND ROOFTOP SITES)

Bidder: CELLNEX TELECOM SA

4 Service Providers

3 Bidder | 1 Vendor

19 Dealmakers

17 Bidder | 2 Vendor

£ 128 M

Value

24 Oct 2022|United Kingdom|Telecommunications Equipment
Cellnex Telecom (1.1k Telecom Towers)
Wireless Infrastructure Group

Target: CELLNEX TELECOM (1.1k TELECOM TOWERS)

Bidder: WIRELESS INFRASTRUCTURE GROUP

5 Service Providers

2 Bidder | 3 Vendor

5 Dealmakers

2 Bidder | 3 Vendor

n/a

Value

28 Feb 2023|Spain|Pipelines
Reganosa (130km Of Gas Pipelines)
Enagas

Target: REGANOSA (130KM OF GAS PIPELINES)

Bidder: ENAGAS SA

3 Service Providers

1 Bidder | 2 Vendor

3 Dealmakers

1 Bidder | 2 Vendor

£ 47 M

Value

27 Apr 2023|Spain|Alternative Fuels
Amara Nzero
Cinven

Target: AMARA NZERO

Bidder: CINVEN LTD

10 Service Providers

1 Target | 6 Bidder | 3 Vendor

45 Dealmakers

2 Target | 42 Bidder | 2 Vendor

£ 702 M

Value

16 May 2023|Spain|Renewable Energy Equipment
Asr Wind
Naturgy Energy Group

Target: ASR WIND

Bidder: NATURGY ENERGY GROUP SA

8 Service Providers

3 Bidder | 5 Vendor

22 Dealmakers

3 Bidder | 19 Vendor

£ 565 M

Value

02 Apr 2023|Spain|Auto Parts
Seinsa Corp
A&m Partners

Target: SEINSA CORP

Bidder: A&M PARTNERS

2 Service Providers

1 Target | 1 Bidder

3 Dealmakers

1 Target | 2 Bidder

n/a

Value

20 Jul 2023|Spain|Automobiles
Qev Technologies
Spear Investments I

Target: QEV TECHNOLOGIES

Bidder: SPEAR INVESTMENTS I

9 Service Providers

4 Target | 5 Bidder

23 Dealmakers

19 Target | 4 Bidder

£ 179 M

Value

04 Aug 2023|Spain|Aerospace
Itp Aero
Indra Sistemas

Target: ITP AERO

Bidder: INDRA SISTEMAS SA

6 Service Providers

1 Target | 3 Bidder | 2 Vendor

7 Dealmakers

2 Target | 4 Bidder | 1 Vendor

£ 149 M

Value

29 Sep 2023|Sweden|Telecommunications Services: Other
Cellnex (sweden And Denmark Operations)
STONEPEAK

Target: CELLNEX (SWEDEN AND DENMARK OPERATIONS)

Bidder: STONEPEAK

7 Service Providers

4 Bidder | 3 Vendor

35 Dealmakers

30 Bidder | 5 Vendor

£ 631 M

Value

30 Nov 2023|Spain|Medical Services
Ht Medica
Fremman Capital

Target: HT MEDICA

Bidder: FREMMAN CAPITAL

9 Service Providers

4 Target | 5 Bidder

12 Dealmakers

2 Target | 10 Bidder

n/a

Value

10 Nov 2023|Spain|IT Services: Other
TRISON
L-GAM

Target: TRISON

Bidder: L-GAM

11 Service Providers

1 Target | 6 Bidder | 4 Vendor

11 Dealmakers

2 Target | 3 Bidder | 6 Vendor

n/a

Value

04 Jan 2024|Spain|Telecommunications Services: Other
Avatel (data Center Business)
Intermediate Capital Group (icg)

Target: AVATEL (DATA CENTER BUSINESS)

Bidder: INTERMEDIATE CAPITAL GROUP (ICG)

6 Service Providers

4 Bidder | 2 Vendor

10 Dealmakers

7 Bidder | 3 Vendor

n/a

Value

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