Houlihan Lokey Advises A&M Capital Europe on the Sale of Ayesa Digital

Houlihan Lokey is pleased to announce that Ayesa Digital’s shareholders—A&M Capital Europe and the Manzanares family—have agreed to sell its Digital Services division for €480 million to a consortium formed by Indar Kartera (Kutxabank), BBK Foundation, the Basque Government, and Teknei. The transaction is expected to close in the coming months, subject to customary regulatory approvals.

Ayesa Digital is one of Spain’s largest digital services providers. Since A&M Capital Europe’s investment in 2022, the company has tripled in size, exceeding €569 million in revenue and consolidating its position as one of the country’s five most prominent players in the national digital services market.

Ayesa Digital specialises in emerging technologies, including artificial intelligence, cloud infrastructure, cybersecurity, and quantum computing, as well as application development and maintenance services, and technology infrastructure management. Its capabilities enable it to support large organisations throughout their digital transformation journey, and its client portfolio includes the leading IBEX 35 companies, as well as major public and private entities.

The transaction opens a new growth cycle to consolidate the company as one of Europe’s leading digital services providers. The objective in this new phase is to further strengthen its technological capabilities and positioning across all the markets in which it operates, including Latin America. The company is present in Spain’s main technology hubs and has a broader international footprint in the United Kingdom, the United States, Mexico, Colombia, Peru, and Chile.

José Luis Manzanares, CEO of Ayesa Digital, stated: “This transaction reflects the maturity and scale that Ayesa Digital has now reached. Our goal of building one of the country’s leading technology players, with end-to-end capabilities, has been fully realised. We now need new capital and a long-term vision to fuel our growth ambitions and consolidate our position in an increasingly competitive market.”

Houlihan Lokey served as the exclusive sellside advisor to Ayesa and A&M Capital Europe. This transaction underscores Houlihan Lokey’s leadership position within the Spanish and European IT services sector and marks the third signed transaction in Spain in the past 12 months.

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