
Iberia continues resurgence despite political drama

Positive macroeconomic outlooks for Spain and Portugal, coupled with plentiful debt and renewed international interest in the region, have nullified the effects of political instability. Chris Papadopoullos reports
The Iberian region continued its robust recovery in 2016. The number of buyouts increased to 40 from 33. It is also more than double the 15 deals that were completed in 2013. The total deal value was €5.3bn, which was up from €4.6bn in 2015 and more than double 2013’s €2.1bn. Improving buyout flow meant that Iberia accounted for 4.5% of total European deal value, up from 3.6% in 2016. “Spain is in fashion right now,” said Patrick Gandarias, founding partner at Corpfin Capital. “We are riding the rollercoaster; we are at a very high point now.”
In terms of deal volume, Iberia made up 5.4% of European deals, up from 5.1% in 2015. The recovery was driven by mid-market buyouts. In the €50m to €250m range, the number of deals climbed to 19 from 14. The value of deals in the range from €1.3bn to €2.2bn. Deals in this range are becoming more populated by bigger equity tickets from private equity houses outside Iberia.
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