A leading independent advisory firm specialising in M&A, debt advisory and NPL portfolio transactions across the European middle market. Senior-led, conflict-free, and built for complexity — since 2004.
MaC Group was founded in 2004 on a simple but uncompromising conviction: the most consequential transactions demand the most rigorous, conflict-free advice. We are a pure advisory firm — no balance sheet, no proprietary capital, no affiliated products. Our only agenda is our clients'.
We operate where complexity is highest and the margin for error is lowest. Our mandates span contested cross-border acquisitions, bespoke debt structures for financial sponsors, and large-scale disposals of non-performing loan portfolios for financial institutions navigating regulatory and balance sheet pressure.
For over two decades, MaC Group has been the trusted partner of choice for corporates, private equity funds, sovereign institutions and banks seeking decisive, experienced advice — not a process managed by analysts.
We advise on the full spectrum of equity transactions in the middle market — from founder-led disposals and family business successions to sponsor-backed buyouts, carve-outs and cross-border mergers. Our process is rigorous and proprietary: we run competitive, structured processes that maximise value and certainty of close. On the buy side, we provide strategic origination, target assessment and negotiation support to corporates and private equity funds seeking acquisitions in Iberia and Southern Europe. We do not rely on intermediary networks — we go direct.
Debt is increasingly the differentiating factor in competitive M&A processes, and our debt advisory practice is built around that reality. We advise borrowers — corporates, sponsors and financial institutions — on the design, structuring and execution of complex financing transactions. Our approach is lender-agnostic: we run competitive processes across the full range of debt providers, including commercial banks, direct lenders, debt funds and capital markets, to secure the most efficient terms available. We have deep experience in acquisition finance, leveraged buyouts, bilateral refinancings, unitranche structures, mezzanine and hybrid instruments, and liability management exercises.
MaC Group has been at the forefront of the European NPL market since its inception, building a practice that is unmatched in Southern Europe for depth of relationships, technical expertise and execution track record. We advise banks, savings institutions, insurance companies and public sector entities on the disposal of non-performing and sub-performing loan portfolios, real estate owned assets and other distressed exposures. Our work spans granular unsecured retail books, secured corporate portfolios, REO and mixed collateral packages, and whole-bank NPL programmes. We manage the full process: portfolio stratification and analytics, data room preparation, investor marketing and book-building, negotiation and regulatory liaison through to close.
Since our founding in 2004, MaC Group has advised on more than 75 completed transactions with an aggregate value in excess of €3 billion. Our track record spans complex cross-border M&A, sponsor-backed leveraged buyouts, large-scale NPL portfolio disposals for financial institutions, and bespoke debt financings — across Spain, Portugal, the United Kingdom and continental Europe. We have advised in virtually every market environment, including the 2008 financial crisis, the European sovereign debt crisis and the post-COVID restructuring wave. Our experience across cycles is one of the most valuable things we bring to any mandate.
Aggregate deal value across completed buy-side, sell-side, debt and NPL mandates since inception in 2004.
Completed mandates across M&A equity, debt advisory and NPL portfolio disposals — spanning 8 countries.
Advising through the 2008 crisis, the European sovereign debt crisis, the NPL clean-up cycle and beyond.
Permanent senior presence in Madrid, Lisbon and London — covering the Iberian Peninsula and international capital markets.
Our partners have built their careers at the intersection of M&A, financing and distressed asset markets — at bulge-bracket banks, specialist boutiques and as operating principals. They bring to every mandate not just technical expertise, but the judgement, network and credibility that only comes from having navigated complex transactions across multiple market cycles. At MaC Group, every client has a Partner's personal attention from day one to close.
Pablo brings over 25 years of experience in strategy consultancy and corporate finance, developed at leading global firms. Prior to co-founding MaC Group, he served as European Leader of the Asset & Wealth Management Practice and Financial Services Partner at Deloitte Consulting, where he was a member of the Global Financial Services Industry Board.
He has built deep expertise across financial services, REO and NPL portfolio advisory, and debt restructuring — advising financial institutions, direct lending funds, private equity and debt funds, corporates and promoters. His work spans strategy, M&A, project financing, transaction advisory and acting as Expert Witness in national and international litigation and arbitration proceedings.
Grant brings over 30 years of experience in strategy consultancy and corporate finance at leading global firms. Prior to co-founding MaC Group, he served as Global Coordinator of Renewable Energies at Arthur D. Little, and before that as Senior Partner at Deloitte Consulting — Iberian Managing Director, member of the European Management Team and Global Board member.
He has developed a market-leading practice in renewable energy and clean technology, advising across Europe, Latin America, MEA and SEA. His clients include venture capital, private equity and infrastructure funds, project promoters, IPPs, utilities and technology providers across the full spectrum of renewables markets. His advisory work spans strategy, M&A, project financing, transaction advisory and Expert Witness roles in national and international litigation and arbitration.
Michael is an internationally renowned expert in renewable energy and cleantech, serving as Chairman and Board Advisor to numerous funds and companies active in the sector, as well as being an investor in his own right. He brings unparalleled depth of expertise and relationships within the global renewable energy institutional investor and financing communities.
His experience spans a broad range of renewable energy technologies, water-related utilities and innovative cleantech companies across the US, Latin America, Europe and Emerging Markets. Michael has supported companies across the entire renewable energy value chain — from initial capital raises and growth equity to venture capital, private equity and infrastructure investment — and combines active board roles with corporate finance mandates in equity raising for funds and projects.
Cuzco IV Building
Paseo de la Castellana 141, 5th Floor
28046 Madrid
Rua Latino Coelho 87
1050-134 Lisbon
8 St James's Square
London SW1Y 4JU
Whether you are exploring a sale process, evaluating an acquisition, optimising your capital structure or managing a distressed asset disposal, we would welcome a confidential conversation. Our partners are directly reachable and give every enquiry their personal attention.