Weekly M&A Debrief (2-8/2/2026)

By Nikos Tsolakis, Dimitris Chatziasimiadis, Stavroula Bichta, Dimitris Machairas, Angeliki Stampouli and Thanasis Ntatsis

ENERGY

1) Schroders Greencoat and METLEN Strengthen Strategic Partnership Through Major 283 MW Solar Deal

Schroders Greencoat has expanded its renewable energy footprint through the acquisition of a 283 MWp solar PV portfolio from METLEN Energy & Metals, marking a pivotal second transaction between the two firms. This strategic deal encompasses seven projects across the UK, split between 143 MW of fully operational assets and 140 MW currently under construction, which are scheduled to reach commercial operation by Q2 2026. By securing this substantial capacity and leveraging long-term offtake agreements with Vodafone and Engie, Schroders Greencoat further solidifies its status as a premier manager of utility scale solar infrastructure in the British market.

The Target

METLEN Energy & Metals, established in 1908, operates two highly interconnected and complementary business sectors, energy and metals, enabling synergies that unlock hidden value and significantly amplify its overall performance. Strategically positioned at the forefront of the global energy transition, METLEN is established as a reference point for competitive green metallurgy at both European and global levels.

Revenue – 2024: €5.6bn.

EBITDA – 2024: €1.0bn.

Net Income – 2024: €0.6bn.

Leverage – 2024: 2.43x

The Asset

A 283 MWp solar PV portfolio, refers to a grouped set of utility-scale solar photovoltaic power plants with a combined capacity of 283MWp(Megawatts-peak).

The Buyer

Schroders Greencoat, established in 2009, has a formidable reputation for the delivery of its investment propositions and its commitment to innovation. As one of the largest pure-play renewable infrastructure managers globally, Schroders Greencoat maintains a significant presence across the UK, Europe, and the US. 

2) METLEN Acquires Stakes in BOAK Concession Entities

METLEN Energy & Metals announced its participation in the Northern Road Axis of Crete (BOAK) concession project (Chania–Heraklion section). Under the Concession Agreement, METLEN will acquire a 24% stake in the concessionaire DIKTAION PARACHORISEIS S.A. and a further 24% stake in DIKTAION OPERATION S.A., responsible for operation and maintenance. Additionally, its construction arm METKA ATE will hold 30% in the Design–Construction joint venture (JV) alongside TERNA and AKTOR. The BOAK project covers 187 km, carries an estimated value of €2bn, and is structured as a 35-year concession.

FOOD AND BEVERAGE

1) Golden Age Capital Acquires Majority Stake in Proedro

Golden Age Capital has agreed to acquire a majority stake in Proedro, a rapidly expanding Greek street-food restaurant chain. This transaction marks the first strategic investment by Golden Age Capital, following the successful fundraising of nearly €250m aimed at backing growth opportunities in the domestic food & beverage sector. The acquisition reflects the fund’s strategy to build platforms in fragmented markets with scalable concepts and international expansion potential.

The Target

Proedro is a Greek restaurant and street-food brand founded by brothers Vasilis and Iason Tsarouchas, which has grown over the past decade from a neighborhood grill into a structured multi-location operator. The concept specializes in contemporary Greek street food, combining traditional offerings with a franchise-style growth model. The chain also benefits from vertical integration through its own meat processing facilities and recent expansion via the acquisition of the Cook & Grill chain, reinforcing its competitive footprint in the fast-casual dining segment.

Revenue – 2025: €42.0m

EBITDA – 2025: €5.8m

The Buyer

Golden Age Capital is a private equity firm focused on investing in growth-oriented Greek businesses with the potential for operational improvement and international scaling. Led by experienced investment professionals with global private-equity and operating backgrounds, the fund targets majority or control positions in mid-market companies across select sectors, including food & beverage, consumer brands, and services. Its approach emphasizes hands-on value creation, buy-and-build strategies, and long-term partnership with founders and management teams.

TECHNOLOGY

1) Profile Systems & Software Finalizes 100% Acquisition of Indigo (London) Holdings and Contemi Solutions

Profile Systems & Software is set to acquire a 100% stake in Indigo (London) Holdings Limited, including its subsidiary Contemi Solutions (London) Ltd, following the fulfillment of all closing conditions. The transaction, valued at €3.8m, successfully concludes the agreement initiated in late 2025 and solidifies the Group’s presence in the UK financial software market.

The Buyer

Founded in 1990, Profile Software is a leading international software solutions provider for the Banking and Investment Management industries. The company has a presence in Europe, the Middle East, US, Asia and Africa delivering innovative solutions to both start-ups and established banking & finance institutions, through direct communication or a reliable partners network.

Revenue – 2024: €40m

EBITDA – 2024: €10m

Net Income – 2024: €5.5m

The Target

Indigo (London) Holdings Limited, is a UK-based financial technology holding company operating through its wholly owned subsidiary, Contemi Solutions (London) Ltd. The Group specializes in development and implementation of software solutions for asset management, wealth management, insurance and capital markets sectors. Its platform supports core front-to-back processes, including portfolio management, risk and compliance, regulatory reporting and digital client service.

REAL ESTATE

1) Share Transfer in Noval Property by Viohalco and Sidenor

Noval Property a Real Estate Investment Company (REIC), announced that, on 3 February 2026, Viohalco acquired 2,001,882 common registered shares of the company at a price of €2.80 per share, representing a total value of approximately €5.6m. 

Transaction Value: €5.6m

The Target

Noval Property is a Real Estate Investment Company, listed on the Athens Stock Exchange, active in the sectors of real estate development and property investment. One of the largest REICs in Greece, Noval Property maintains a modern and diversified real estate portfolio, characterized by high marketability and significant geographic dispersion.

Revenue – 2024: €33.4m

Adj-EBITDA – 2024: €20.5m

Net Income – 2024: €47.2m

Net Debt – 2024: €137.4m

Net Debt/Adj-EBITDA: 6.85x

The Buyer

Viohalco is a Belgium-based industrial holding company owning and managing a diversified portfolio of leading metal processing and manufacturing businesses in Europe. Its subsidiaries operate across a full-value chain of aluminium, copper, steel, cables and related industrial products.

Revenue – 2024: €6.6bn

Adj-EBITDA – 2024: €0.6bn

Net Income – 2024: €0.2bn

Net Debt – 2024: €1.5bn

Net Debt/EBITDA – 2024: 2.4x

2) CENTRIC and TEN Brinke partner for residential investment in Ellinikon

CENTRIC Group has entered a strategic partnership with TEN Brinke to develop a large-scale residential project in Ellinikon, Athens. As part of the transaction, CENTRIC will acquire a 50% stake in NELLENCO S.M.S.A., a subsidiary of TEN Brinke Hellas, forming a joint venture to undertake the development. The investment involves the acquisition of two plots with a total buildable area of approximately 15.700 m², for total consideration of approximately €41.5m, with the overall acquisition phase cost expected to reach around €45m including taxes and related expenses.

The development will be implemented in three phases, including land acquisition, construction and the commercialization of residential units in both domestic and international markets. The construction phase is estimated at approximately €55m and will be primarily financed through bank funding, complemented by equity contributions from the joint venture partners.

The Target

NELLENCO S.M.S.A. is a Greek company and subsidiary of TEN Brinke Hellas, engaged in the acquisition, development and construction of real estate assets in Greece, as well as their management and commercial exploitation through leasing and other forms of utilization.

The Buyers

CENTRIC Holdings S.A. is a Greek investment company with activities spanning real estate, hospitality and tourism, including hotel ownership, yachting and property management services. In addition, the company maintains an investment portfolio in securities and participates in strategic investments across multiple sectors.

Revenue – 2024: €5.1m

Net Income – 2024: €0.8m

Net Cash – 2024: €2.7m

TEN Brinke Hellas S.A. is the Greek subsidiary of TEN Brinke Group, a privately held Dutch real estate developer and construction company. It specializes in the development, construction and delivery of residential, commercial and mixed-use real estate projects, operating across multiple European markets with an integrated development and construction model.

Revenue – 2024: €3.4m

Net Income – 2024: €1.9m

Net Debt – 2024: €87.8m

CONSTRUCTION

1) Titan completes acquisition of Vrac de l’Estuaire

Titan Cement International S.A. has completed the acquisition of Vrac de l’Estuaire, a cement distribution and logistics company based in France, strengthening its presence in the Western European cement market. The transaction enhances Titan’s distribution network and logistics capabilities, supporting the group’s broader strategy to expand its footprint in key European markets.

The acquisition provides Titan with access to strategically located import and distribution infrastructure, improving supply chain efficiency and supporting the group’s ability to serve regional demand more effectively.

The Target

Vrac de l’Estuaire is an industrial operator active in cement production and bulk-material handling in France’s Le Havre estuary area. The company runs a cement facility with mid-scale capacity, provides storage and logistics services for bulk goods, and functions as Cimat Group’s platform for supplying the French market. Its activities include production, processing, and port-adjacent distribution of cement and related materials.

The Buyer

TITAN Group is a long-established player in the construction material and infrastructure sector, with operations dating back to 1902. The Group employs more than 6,000 people and operates through vertically integrated production network. With a strong presence across US and Europe, including Greece, the Balkans and Eastern Europe, TITAN continues to expand its portfolio.

Revenue – 2024: €2.6bn

EBITDA – 2024: €0.5bn

Net Income – 2024: €0.3bn

RUMOURS AND OTHER DEVELOPMENTS

1) LAMDA Development Sells Two Plots in The Ellinikon to TEN Brinke Subsidiary

LAMDA Development S.A. has accepted a binding offer from NELLENCO S.M.S.A., a subsidiary of TEN Brinke Hellas, for the sale of two land plots located in the “A-Π2” zoning area of The Ellinikon megaproject.  The plots have a total maximum buildable area of approximately 15,700 m², and the total consideration of the sale is approximately €41.5 million, corresponding to an average price of about €2,650 per buildable m². The transaction is subject to the completion and signing of the relevant contractual documentation. 

2) PPC Denies Reports of Potential Nova Acquisition

Public Power Corporation (PPC) has officially denied recent media reports suggesting it was considering the acquisition of Nova. In a regulatory announcement to the Athens Stock Exchange, PPC stated that it has not entered into any discussions or agreements related to the purchase of Nova, and that the press coverage does not reflect ongoing or contemplated negotiations. The clarification aims to update the investment community following speculation in the business press about PPC potentially expanding into telecommunications.