Bondo Advisors advises Good Rebels on the acquisition of Asesores

Bondo Advisors has acted as financial advisor (buy-side advisor) to Good Rebels in the acquisition of Asesores, a Spanish corporate communications agency and consultancy with more than 30 years of experience. This is the largest acquisition carried out by Good Rebels to date and marks a milestone in the group’s strategy to offer an integrated service in communication, reputation, and digital marketing to advertisers.

Good Rebels, an independent Spanish advertising group founded by Juan Luis and Fernando Polo, specializes in digital strategy and transformation. With a team of more than 145 professionals, the group combines data, creativity, and technology to create digital experiences that connect brands and people. Its clients include companies such as Repsol, Telefónica, ACS, Toyota, Cellnex, Fujifilm, LG, Domino’s, Eroski, and Volotea. Good Rebels has maintained a sustained inorganic growth strategy through the acquisition of specialized companies such as Estudio34 (SEO/GEO and performance), Muskae (UX/UI design and branding), and the social-first production company ok,z — the latter also advised by Bondo Advisors. In addition, the group launched Kuantik, its software and artificial intelligence division for marketing, which at the end of 2025 released AI Rank, a tool to measure brand reputation in LLMs.

Asesores, founded in 1995 by Carlos del Hoyo and José Manuel Gutiérrez, is one of the longest-standing independent communications agencies in Spain and ranks among the most highly regarded by brand managers according to the annual ranking by El Publicista. With more than 25 professionals, headquarters in Madrid, and an office in Lisbon, the firm brings over three decades of experience in integrated strategic communication, reputation management, media relations, corporate storytelling, event organization, and research. Its client portfolio includes companies such as Microsoft, Repsol, Xbox, ACS, Puig, and Carretilla, and in recent years the agency has generated revenues in the range of €1.5 million to €2.5 million. Asesores is a member of D&A Comunicación, an independent group of public relations agencies with a presence in the main Ibero-American markets.

The transaction responds to the growing demand from companies and institutions that need to manage their communication and reputation in a coordinated way across multiple environments: traditional media, content creators, digital communities, and artificial intelligence systems. In a context where the convergence between corporate communication, public relations, and digital marketing is increasingly necessary, companies are seeking partners capable of connecting brand strategy, storytelling, digital activation, and measurement under a single operating model. The integration breaks down the silos between communication and marketing, enabling reputation to drive sales and commercial results to reinforce reputation.

With this acquisition, the group’s combined client portfolio now includes Microsoft, Repsol, Xbox, ACS, Puig, Telefónica, Toyota, Domino’s, Eroski, and Carretilla, forming a multi-sector portfolio that spans large B2B accounts and consumer brands with omnichannel needs. Asesores will retain its brand, operational independence, and service model. Founders Carlos del Hoyo and José Manuel Gutiérrez are stepping down after 30 years at the helm, remaining involved as shareholders, while Luis Dorado continues as partner and Chief Operating Officer, alongside Carlos Hergueta and Iván Bermejo.

This transaction further consolidates Bondo Advisors’ role as a recurring M&A advisor to Good Rebels, having previously advised on the integration of the production company ok,z. The deal represents the thirteenth transaction advised by Bondo Advisors in the marketing, advertising, and communications sector in recent years, reaffirming its position as one of the most active independent advisors in this sector in Spain.

About Bondo Advisors:

Bondo Advisors is a financial advisory boutique specialized in mergers and acquisitions (M&A), with a focus on B2B and B2C company sales, technology, software, SaaS, AI, digital marketing, and digital businesses. The firm advises founders, entrepreneurs, and shareholders on company sale processes, integration, and strategic growth, with a particular focus on sell-side transactions.