"There has been a significant increase in Italian investment in Spain"

Leaders League: What was the driving force behind the firm’s decision to further expand in Spain by adding a Madrid office?

Meritxell Roca Ortega: Pavia e Ansaldo’s decision to expand into Spain by opening a Madrid office in 2023 is a direct extension of our long-standing international strategy. Since its inception, the firm has been guided by a philosophy that emphasizes expanding into regions where it can leverage local expertise through licensed attorneys. This approach has consistently driven the firm’s organic growth and strategic decisions.

Since Meritxell Roca joined the firm in 1996, Pavia e Ansaldo has developed deep expertise in cross-border transactions between Spain and Italy. Our involvement in numerous high-profile operations over the past 25 years has solidified our reputation in the Spanish market, further enhanced by our office in Barcelona, which opened in 2016.

The decision to open a Madrid office aligns with the firm’s broader strategy to reinforce our commitment to the region’s expanding business opportunities. With a strong presence in both Barcelona and Madrid, Pavia e Ansaldo stands out as the only major Italian firm with a substantial presence in Spain. This strategic move not only strengthens our ability to support various industries – ranging from pharmaceuticals and manufacturing to agriculture and pet accessories – but also reinforces our commitment to the region’s growing business opportunities.

Do you see an increase of Italian investment in Spain?

Indeed, there has been a significant increase in Italian investment in Spain, fuelled by the robust economic ties between the two countries and Spain’s attractive business environment. Italian companies are increasingly viewing Spain as a prime destination for strategic expansion, particularly in high-growth sectors such as infrastructure, renewable energy, fashion and technology.

With a strong presence in both Barcelona and Madrid, Pavia e Ansaldo stands out as the only major Italian firm with a substantial presence in Spain.

This trend is bolstered by the presence of well-established Italian businesses, which play a crucial role in fostering further investment and creating a cycle of growth and opportunity for both Italian and Spanish companies. Our recent track-record reflects this dynamic: in the past twelve months, we successfully facilitated Threestones Capital’s nursing home transaction with DomusVi, guided Saica Group through two strategic acquisitions, and managed Unobravo’s expansion of online therapy services into Spain. Additionally, we helped TuLotero secure an Italian license in the gaming sector.

These transactions reflect a broader trend where international investors, particularly from Italy, are entering the Spanish market through acquisitions of local companies. The increased demand for our services highlights the growing interest in Spain among private equity firms and large family-owned industrial businesses from Italy and other European countries.

Are Spanish companies looking towards Italy for their international expansion?

Yes, Spanish companies are increasingly targeting Italy as a destination for their international expansion. Italy’s large and dynamic economy, cultural similarity with Spain, not to mention the strong trade connections between the countries, make it an attractive market for Spanish businesses. Key sectors driving this interest include fashion, food and beverage, infrastructure and renewable energy.

Italian companies are increasingly viewing Spain as a prime destination for strategic expansion, particularly in high-growth sectors such as infrastructure, renewable energy, fashion and technology.

The presence of Spanish companies already successfully operating in Italy serves as an encouraging precedent for others considering entering the Italian market. This trend is further supported by Pavia e Ansaldo’s extensive experience working with clients from both Spain and Italy. Our firm’s expertise in navigating cross-border transactions and understanding market dynamics enables us to provide tailored guidance to Spanish companies pursuing opportunities in Italy. This expertise in navigating cross-border transactions and understanding market conditions helps strengthen bilateral investments and supports the ongoing growth of business relations between Spain and Italy.