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There’s still a long way to go to close out the year, especially as the last quarter is typically very active. However, we thought it would be interesting to share an initial overview of acquisitions completed worldwide (excluding the USA/Canada) so far in 2024. We’ve compiled details of the first 25 closed transactions (note that not all are included, as some remain undisclosed for confidentiality reasons).
Our first observation is that Spain continues to be the most active market, with 5 reported transactions to date, followed by Italy and the UK, each with 4. Outside of Europe, Japan has been the most active country so far, with 3 closed deals.
Sector-wise, industrial deals have been the most numerous this year, along with some activity in B2B services and Education/EdTech. Interestingly, there have been very few deals in IT Services, Software, and Healthcare so far.
Below is the complete list of deals made to date in 2024:
| Target | Country | Sector | Search Fund |
| Granular Products | Australia | Herbicide manufacturer | Resilient Search Partners |
| TWS Energy Controls & WF Energy Controls | Australia | Electricity distribution industry | SMEVentures (Jason Hew) |
| Kofre Tecnologia / nTopus | Brazil | Communication Services | D1 Capital |
| DNG Transportes | Brazil | Medicine transportation | Connectus Capital |
| Flying Eye | France | Distributor of profesional drones | Mahogany Capital |
| Dedicom | Germany | Software | Wiest Mittelstandspartner |
| Dante Alighieri Training Agency | Italy | Education | Monforte Capital Partners |
| Mecavit | Italy | Industrial (screws manufacturer) | Novastone (Nicoletta Nutrito) |
| ELTI (European Lift Testing Italia) | Italy | Inspection & certification business (elevators, electrical systems) | Visconti Capital |
| Marcona3 | Italy | Showrooms | Novastone (Paolo Ciarlariello) |
| I’ll Corporation | Japan | Produce 3D data & styrofoam art for theme parks & concerts | M-Capital |
| K Group | Japan | Beauty industry (hair salons) | Yutaro Miwa (Search Fund Japan) |
| NK Trading | Japan | Hobby trading (toys and game consoles) | Yuma Soga (JSFP) |
| Tacna | Mexico | Shelter Services: relocate & manufacture in Mexico | Arvo Partners |
| Pinion Education | Mexico | Education – Edtech | Sapiens Capital |
| Szwajcarka | Poland | Catering Business | KCP Holding |
| Azeler Automoción | Spain | Automotive | Imagine+ Inversión |
| Milton Education | Spain | Edtech | Ada Capital |
| Cartonajes Limousin | Spain | Cardboard Manufacturer | Lemnos Capital |
| Adinor | Spain | Industrial – Metal and Aluminum Carpentry | Pleamar Partners |
| Ibérica Semiconductores de Potencia | Spain | Power electronics – semiconductors | Kramer Inversiones |
| Saepio Information Security | UK | Cybersecurity | Aurias |
| Jones Skip Hire (Wolverhampton) Ltd | UK | Skip hire and waste management | Continuance Capital (Self-Funded) |
| Garner Osborne Circuits Limited | UK | PCB (Printed Circuit Board) Manufacturer | Novastone (Dean Curran) |
| HMDG | UK | Web and digital services agency | Dramont Partners |
