Insights on M&A activity in Spain: Manuel Zulueta, CEO of DC Advisory Spain, at CAPCorp 2025
Date
5 min read
At CAPCorp 2025 – the leading event for M&A and private equity professionals in Spain – Manuel Zulueta, CEO of DC Advisory Spain, shares his perspective on the evolution of the Spanish M&A market and the factors shaping investor appetite in 2025.
From sector recovery trends to the growing role of technology and secondary transactions, Manuel outlines how DC Advisory is supporting clients through a period of renewed momentum and diversification across the market.
Manuel Zulueta, CEO DC Advisory Spain
Audio recording by Capital & Corporate, created for the CAPCorp 2025 event.
Key themes explored
- Gradual recovery: 2025 has marked a year of steady improvement for the Spanish M&A market. After a strong start in Q1 and a slight slowdown in Q2, the third quarter saw activity regain pace – signalling increased investor confidence and a more balanced deal environment heading into year-end
- Sector leaders – healthcare and technology: The technology sector continues to experience a strong rebound, particularly across IT services and B2B software. In parallel, Europe’s healthcare market is entering a new phase of consolidation following a period of slower activity, creating attractive opportunities for strategic investors
- Diversification and value creation at DC Advisory: With a portfolio of 30–40 active mandates, DC Advisory’s work in Spain spans debt advisory, infrastructure, restructuring, and traditional M&A. This breadth enables the team to deliver tailored solutions aligned to evolving client and market needs
- Adapting to market demand: Strengthened capabilities in the technology sector – alongside several secondary market transactions – underscore DC Advisory’s agility and expertise in navigating shifting investor priorities throughout 2025
What to read next
Date
5 min read
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