Madrid-based N+1, which merged with fellow Spanish private equity firm Mercapital in 2012, is at it again, announcing today that it will combine with Spanish private equity firm Dinamia.

N+1, which has an investment banking, asset management and private equity divisions, said it will merge with Spain-listed Dinamia. The two companies will combine to create a European mid-market asset manager and investment bank, with operations in France, Germany, Italy, Spain, Switzerland, Turkey and the UK.