A resilient leisure industry helped Iberia to new heights by the end of the year. Industrials and chemicals, and renewables, plus mining and utilities are the ones to watch. This material was brought to you in association with MergeMarket.

Look out for new opportunities in I&C, mining, utilities and renewables.

Spain and Portugal’s economies were badly affected by the impact of Covid-19 on their travel and tourism sectors. But the end of 2021 saw a resurgence and a record number of M&A transactions.

The number of deals in Iberia rose by 29% in 2020 to 715 transactions—the highest since 2006. Value also rose year on year.

The industrial sector and renewables were big attractions. PE buyouts saw a massive rise. Exits dropped in value, in spite of a rise in the number of deals.

Energy, mining, and utilities saw €12.1bn in deal value in 2021, making it the second-largest sector by M&A value (20.6%).

The leisure sector saw M&A value increase almost eightfold and the number of deals also rose.

High levels of capital and low-interest rates are expected to encourage more M&A in 2022 with particular opportunities for PE.

To find out more, download the trend report below.