KPMG leads the Spanish Big Four market in M&A and due diligence transactions

KPMG has consolidated its position as the leader in the Spanish market for financial advisory and due diligence services, according to TTR Data’s annual Iberian market report. The firm tops the Big Four ranking by transaction volume, with 184 deals, ahead of PwC (169), EY (140) and Deloitte (83).

The report also places the firm as the undisputed leader in due diligence for the third consecutive year, having reported 167 transactions, representing a 40% market share.

These results are particularly significant as they come in a more challenging environment than the previous year, marked by greater investor selectivity and a general slowdown in the market. Despite this, the firm has managed to maintain its figures and strengthen its position as a partner of reference in an increasingly complex and competitive landscape.

Beyond the rankings: sustained leadership in Deal Advisory

The volume of mandates executed by the team over the past year includes advisory work on 23 M&A transactions, 25 debt advisory processes, around 100 valuation exercises, more than €1.3 billion in sale prices of debt and real estate portfolios transacted, the aforementioned 167 financial due diligences corresponding to closed transactions, over 40 tax incentive structuring projects, and 200 strategy projects carried out in transactional environments for both private equity funds and corporates.

“These results reflect the strength and consistency of our team in a particularly challenging year for the market. The trust our clients place in KPMG demonstrates the quality of our advice and our ability to deliver insight, rigor, clarity and value. All of this is the result of deep technical expertise, a multidisciplinary structure and close coordination across teams, which allows us to approach each transaction with a comprehensive perspective,” said Noelle Cajigas, Head of Deal Advisory at KPMG in Spain and EMA.

For his part, Jose A. Zarzalejos, Global Head of Corporate Finance at KPMG, noted that “in an especially complex global M&A environment, KPMG Spain’s Corporate Finance team has demonstrated outstanding resilience, driving a notable rebound in the final quarter of the year. Its performance reaffirms Spain’s strategic role within our international network and our ability to support high-impact transactions.”

Jaime Muñoz Estrada, Head of Transaction Services at KPMG in Spain, подчеркed that “despite the market’s cautious behavior, we have continued to advise on significant transactions and to support our clients with robust, in-depth and agile analyses.” He added that “this leadership reflects our clients’ trust in an exceptional team with extensive market experience and a constant focus on delivering professional, high-quality service.”

Multidisciplinary approach and integrated capabilities

One of the key drivers of this strong position lies in the close coordination among the teams that make up the Deal Advisory practice — Corporate Finance, Transaction Services, Funding Advisory and Strategy & Value Creation — as well as their integrated work with other areas of the firm, providing a rigorous and forward-looking perspective to the market’s emerging needs.

The practice comprises around 500 professionals dedicated to transaction advisory and supports companies, funds and financial institutions throughout the entire value creation cycle: from the analysis of strategic options and mergers and acquisitions, to due diligence, optimization of capital and financing structures, post-deal value extraction and restructuring processes. Thanks to its combination of financial expertise, sector knowledge and advanced analytical capabilities, the team delivers robust solutions tailored to the specific characteristics of each transaction

Photo: KPMG Spain’s executive team. From left to right: Jaime Muñoz Estrada, Jose A. Zarzalejos, Noelle Cajigas, Guillermo Padilla, Ovidio Turrado, Lourdes Sánchez and Javier Rodríguez.