We have advised the shareholders of Reynasa, a specialist in the distribution of spare parts, tyres, and equipment for automotive workshops, on the sale of 100% of the company to Mutua Madrileña, Spain’s largest motor insurer, as part of its strategy to expand and strengthen its mobility ecosystem.
The transaction represents one of the most innovative and strategic moves in the European automotive aftermarket in recent years, marking the entry of a major insurer into the independent distribution of spare parts for garages.
Founded in 1970, Reynasa is a family-run business specialising in the distribution of spare parts, tyres, and equipment for automotive workshops. The company operates through a network of 16 branches and, over more than five decades, has established itself as one of the leading independent aftermarket distributors in the Community of Madrid and a national benchmark within the sector. With a turnover of more than €70m in 2025 and a workforce of nearly 300 employees, Reynasa has established a distinctive position underpinned by extensive logistics coverage, customer proximity, high-quality service and a sustained track record of growth.
Mutua Madrileña is one of Spain’s leading insurance groups and, in recent years, has been developing a strategy to build an integrated mobility ecosystem, incorporating car hire, car-sharing, vehicle repair, and maintenance services.
The acquisition of Reynasa enables Mutua Madrileña to significantly expand its position across the automotive value chain by adding a new strategic business line: the independent distribution of spare parts. It also complements its current range of mobility services, where it already operates through companies such as Centauro (car hire), Voltio (car-sharing), and the workshop networks of Aurgi and Motortown.
The integration of Reynasa also marks the emergence of a new national player in the Spanish spare parts distribution market, with the capacity to compete with the major multinational operators that have driven much of the sector’s consolidation across Europe in recent years.
This transaction reflects how the aftermarket sector continues to accelerate its transformation, driven by consolidation, vertical integration, and the emergence of new types of investors and industrial operators. In this context, the entry of Mutua Madrileña represents a distinctive strategic move that could herald new competitive dynamics in the market.
With this transaction, Clearwater continues to consolidate its position as one of the leading advisers on the most significant deals in the Spanish aftermarket. In July 2025, we also advised Recambios Colón on its sale to Alliance Automotive Group, a sector milestone as it was the first significant deal in which a company belonging to one purchasing group (SERCA) was acquired by a company belonging to a different group (GAUIB). The sale of Reynasa confirms that the independent spare parts distribution market is undergoing a period of structural transformation and growing strategic interest from new players, both industrial and financial.
