Buyer landscape
Likely buyers · AdTech in Spain.
Prepared 2026-08-28 with GP Intel · deterministic scoring, published weights: gp-intel.com/methodology/league-tables
How companies like this sold · 44 verified exits: 30% to sponsors, 59% to corporates and platforms, 7% via IPO, 5% other routes. Route shift since 2020: sponsors 29% (was 24%), corporates and platforms 64% (was 67%), IPO 4% (was 9%) (sector-wide).
The list: 25 Tier 1 · 0 Tier 2 of 120 matched buyers. A first round of the Tier 1 names plus the expansion buyers covers the demonstrated demand.
Financial buyers · 25
Tier 1 · Very High · score 70+
1. Bridgepoint SponsorVery High88
53 platform investments in TMT & Media · 7 in Spain · 43 deals 2024–26
AUM €86.6B · Europe VIII (BE VIII) · 2026 vintage · deploying · check €120-900M
4 platform investments since the 2026 vintage · early in deployment vs its usual 20 per fund.
Bought Samy from Inveready Asset Management, 2025 · AdTech, Spain
2. Ardian SponsorVery High82
70 platform investments in TMT & Media · 27 in Spain · 51 deals 2024–26
AUM €196.0B · Ardian Expansion Fund VI · 2025 vintage · deploying · check €64-480M
13 platform investments since the 2025 vintage · mid-deployment vs its usual 15 per fund.
Bought Jakala from The Equity Club, 2021 · AdTech, Italy
3. Ardian Clean Energy Evergreen Fund SponsorVery High81
64 platform investments in TMT & Media · 22 in Spain · 44 deals 2024–26
AUM €196.0B · Ardian Expansion Fund VI · 2025 vintage · deploying · check €64-480M
13 platform investments since the 2025 vintage · mid-deployment vs its usual 15 per fund.
Backed Fermax, 2026 · TMT, Spain
4. Ardian Mid Cap Buyout SponsorVery High81
64 platform investments in TMT & Media · 22 in Spain · 42 deals 2024–26
AUM €196.0B · Ardian Expansion Fund VI · 2025 vintage · deploying · check €64-480M
13 platform investments since the 2025 vintage · mid-deployment vs its usual 15 per fund.
Backed Fermax, 2026 · TMT, Spain
5. Ardian (Clean Energy Evergreen Fund) SponsorVery High81
64 platform investments in TMT & Media · 22 in Spain · 43 deals 2024–26
AUM €196.0B · Ardian Expansion Fund VI · 2025 vintage · deploying · check €64-480M
13 platform investments since the 2025 vintage · mid-deployment vs its usual 15 per fund.
Backed Fermax, 2026 · TMT, Spain
6. Ardian (ex-AXA Private Equity) SponsorVery High81
64 platform investments in TMT & Media · 22 in Spain · 42 deals 2024–26
AUM €196.0B · Ardian Expansion Fund VI · 2025 vintage · deploying · check €64-480M
13 platform investments since the 2025 vintage · mid-deployment vs its usual 15 per fund.
Backed Fermax, 2026 · TMT, Spain
7. Ardian / Crédit Agricole Assurances consortium SponsorVery High81
64 platform investments in TMT & Media · 22 in Spain · 42 deals 2024–26
AUM €196.0B · Ardian Expansion Fund VI · 2025 vintage · deploying · check €64-480M
13 platform investments since the 2025 vintage · mid-deployment vs its usual 15 per fund.
Backed Fermax, 2026 · TMT, Spain
8. Ardian + Tikehau Capital + EMZ consortium (Bpifrance + Amundi + Siparex) SponsorVery High81
64 platform investments in TMT & Media · 22 in Spain · 43 deals 2024–26
AUM €196.0B · Ardian Expansion Fund VI · 2025 vintage · deploying · check €64-480M
13 platform investments since the 2025 vintage · mid-deployment vs its usual 15 per fund.
Backed Fermax, 2026 · TMT, Spain
9. Ardian and Centerbridge Partners SponsorVery High81
64 platform investments in TMT & Media · 22 in Spain · 42 deals 2024–26
AUM €196.0B · Ardian Expansion Fund VI · 2025 vintage · deploying · check €64-480M
13 platform investments since the 2025 vintage · mid-deployment vs its usual 15 per fund.
Backed Fermax, 2026 · TMT, Spain
10. Ardian and GoldenTree Asset Management SponsorVery High81
64 platform investments in TMT & Media · 22 in Spain · 42 deals 2024–26
AUM €196.0B · Ardian Expansion Fund VI · 2025 vintage · deploying · check €64-480M
13 platform investments since the 2025 vintage · mid-deployment vs its usual 15 per fund.
Backed Fermax, 2026 · TMT, Spain
11. Ardian and Latour Capital SponsorVery High81
64 platform investments in TMT & Media · 22 in Spain · 42 deals 2024–26
AUM €196.0B · Ardian Expansion Fund VI · 2025 vintage · deploying · check €64-480M
13 platform investments since the 2025 vintage · mid-deployment vs its usual 15 per fund.
Backed Fermax, 2026 · TMT, Spain
12. Ardian Expansion SponsorVery High81
64 platform investments in TMT & Media · 22 in Spain · 42 deals 2024–26
AUM €196.0B · Ardian Expansion Fund VI · 2025 vintage · deploying · check €64-480M
13 platform investments since the 2025 vintage · mid-deployment vs its usual 15 per fund.
Backed Fermax, 2026 · TMT, Spain
13. Ardian Expansion (Fund V) SponsorVery High81
64 platform investments in TMT & Media · 22 in Spain · 42 deals 2024–26
AUM €196.0B · Ardian Expansion Fund VI · 2025 vintage · deploying · check €64-480M
13 platform investments since the 2025 vintage · mid-deployment vs its usual 15 per fund.
Backed Fermax, 2026 · TMT, Spain
14. Ardian Semiconductor SponsorVery High81
64 platform investments in TMT & Media · 22 in Spain · 43 deals 2024–26
AUM €196.0B · Ardian Expansion Fund VI · 2025 vintage · deploying · check €64-480M
13 platform investments since the 2025 vintage · mid-deployment vs its usual 15 per fund.
Backed Fermax, 2026 · TMT, Spain
15. Ardian Tikehau EMZ consortium SponsorVery High81
64 platform investments in TMT & Media · 22 in Spain · 42 deals 2024–26
AUM €196.0B · Ardian Expansion Fund VI · 2025 vintage · deploying · check €64-480M
13 platform investments since the 2025 vintage · mid-deployment vs its usual 15 per fund.
Backed Fermax, 2026 · TMT, Spain
16. Ardian, Finint Infrastrutture SponsorVery High81
64 platform investments in TMT & Media · 22 in Spain · 43 deals 2024–26
AUM €196.0B · Ardian Expansion Fund VI · 2025 vintage · deploying · check €64-480M
13 platform investments since the 2025 vintage · mid-deployment vs its usual 15 per fund.
Backed Fermax, 2026 · TMT, Spain
17. Bridgepoint Development Capital SponsorVery High81
46 platform investments in TMT & Media · 5 in Spain · 36 deals 2024–26
AUM €86.6B · Europe VIII (BE VIII) · 2026 vintage · deploying · check €120-900M
4 platform investments since the 2026 vintage · early in deployment vs its usual 20 per fund.
Backed Samy, 2025 · AdTech, Spain
18. Bridgepoint (52.5% majority stake) SponsorVery High81
45 platform investments in TMT & Media · 5 in Spain · 36 deals 2024–26
AUM €86.6B · Europe VIII (BE VIII) · 2026 vintage · deploying · check €120-900M
4 platform investments since the 2026 vintage · early in deployment vs its usual 20 per fund.
Backed Samy, 2025 · AdTech, Spain
19. Bridgepoint BE VII + General Atlantic SponsorVery High81
46 platform investments in TMT & Media · 5 in Spain · 37 deals 2024–26
AUM €86.6B · Europe VIII (BE VIII) · 2026 vintage · deploying · check €120-900M
4 platform investments since the 2026 vintage · early in deployment vs its usual 20 per fund.
Backed Samy, 2025 · AdTech, Spain
20. Bridgepoint Capital SponsorVery High81
45 platform investments in TMT & Media · 5 in Spain · 36 deals 2024–26
AUM €86.6B · Europe VIII (BE VIII) · 2026 vintage · deploying · check €120-900M
4 platform investments since the 2026 vintage · early in deployment vs its usual 20 per fund.
Backed Samy, 2025 · AdTech, Spain
21. Bridgepoint Capital Developpement SponsorVery High81
45 platform investments in TMT & Media · 5 in Spain · 36 deals 2024–26
AUM €86.6B · Europe VIII (BE VIII) · 2026 vintage · deploying · check €120-900M
4 platform investments since the 2026 vintage · early in deployment vs its usual 20 per fund.
Backed Samy, 2025 · AdTech, Spain
22. Bridgepoint Development Capital (with Paluel-Marmont Capital & LT Capital) SponsorVery High81
45 platform investments in TMT & Media · 5 in Spain · 36 deals 2024–26
AUM €86.6B · Europe VIII (BE VIII) · 2026 vintage · deploying · check €120-900M
4 platform investments since the 2026 vintage · early in deployment vs its usual 20 per fund.
Backed Samy, 2025 · AdTech, Spain
23. EQT SponsorVery High75
25 platform investments in TMT & Media · 13 in Spain · 51 deals 2024–26
AUM €291.0B · EQT X · 2023 vintage · deploying · check €440M-3.3B
53 platform investments since the 2023 vintage · largely deployed vs its usual 11 per fund.
Backed Arium Networks, 2026 · Telecom, US
24. Waterland Private Equity SponsorVery High72
8 platform investments in TMT & Media · 3 in Spain · 39 deals 2024–26
Waterland Private Equity Fund IX (WPEF IX) · 2023 vintage · deploying · check €70-525M
48 platform investments since the 2023 vintage · largely deployed vs its usual 19 per fund.
Backed AFO Group, 2023 · AdTech, UK
25. NextStage AM SponsorVery High72
79 platform investments in TMT & Media · 21 deals 2024–26
AUM €11.6B · FCPI NextStage CAP 2026 · 2026 vintage · deploying
5 platform investments since the 2026 vintage · early in deployment vs its usual 14 per fund.
Backed Bichard Equipement, 2025 · TMT, France
Scores and facts derive from verified deal records only; sample floors and thresholds are published on the methodology page. Figures marked with a tilde are bands, not disclosures.