Bondo Advisors acted as financial advisor (buy-side advisor) to Good Rebels on the acquisition of Asesores, a Spanish corporate communications agency and consultancy with over 30 years of track record. This represents Good Rebels’ largest acquisition to date and marks a milestone in the group’s strategy to deliver an integrated communications, reputation management, and digital marketing service 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 over 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 pursued a sustained inorganic growth strategy through the acquisition of specialist companies such as Estudio34 (SEO/GEO and performance), Muskae (UX/UI design and branding), and social-first production company ok,z — the latter also advised by Bondo Advisors. Additionally, the group launched Kuantik, its AI software and solutions division for marketing, which in late 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 Spain’s longest-standing independent communications agencies and ranks among the highest-rated by brand managers according to El Publicista’s annual ranking. With over 25 professionals, headquarters in Madrid, and a local office in Lisbon, the firm brings over three decades of experience in integrated strategic communications, reputation management, media relations, corporate narrative, event management, and research. Its client portfolio includes companies such as Microsoft, Repsol, Xbox, ACS, Puig, and Carretilla, and the agency has operated in recent years with revenues between EUR 1.5 and 2.5 million. Asesores is a member of D&A Comunicación, an independent PR agency group with a presence across major Ibero-American markets.
The deal responds to the growing demand from companies and institutions that need to manage their communications and reputation in a coordinated manner across multiple environments: traditional media, content creators, digital communities, and artificial intelligence systems. In a context where the convergence of corporate communications, public relations, and digital marketing is increasingly necessary, companies are seeking partners capable of connecting brand strategy, narrative, digital activation, and measurement under a single operating model. The integration breaks down the silos between communications and marketing, enabling reputation to drive sales and commercial results to strengthen reputation.
With this acquisition, the group’s combined client portfolio now includes companies such as Microsoft, Repsol, Xbox, ACS, Puig, Telefónica, Toyota, Domino’s, Eroski, and Carretilla, forming a multi-sector portfolio spanning major B2B accounts and consumer brands with omnichannel needs. Asesores retains its brand, operational independence, and service model. Founders Carlos del Hoyo and José Manuel Gutiérrez complete their leadership tenure after 30 years, remaining as partners, while Luis Dorado continues as partner and chief operating officer, alongside Carlos Hergueta and Iván Bermejo.
This transaction consolidates Bondo Advisors’ role as Good Rebels’ recurring M&A advisor, following its earlier advisory on the integration of production company ok,z. The deal represents the thirteenth transaction Bondo Advisors has advised in the marketing, advertising, and communications sector in recent years, reaffirming its position as one of the most active independent advisors in this space in Spain.
Press releases: https://www.anuncios.com/agencias/noticia/1193047014401/good-rebels-amplia-sus-capacidades-especializadas-con-la-compra-de-asesores.1.html | https://www.elpublicista.es/agencias/grupo-good-rebels-crece-compra-asesores
About Bondo Advisors: Bondo Advisors is a financial advisory boutique specializing in mergers and acquisitions (M&A), focused on the sale of B2B, B2C, technology, software, SaaS, AI, digital marketing, and digital businesses. The firm advises founders, entrepreneurs, and shareholders on company sale processes, integrations, and strategic growth, with a particular focus on sell-side engagements.