Pequeña Compañía, a Spanish folk music group formed in 1976, emerged from the remnants of La Compañía, an earlier ensemble that adapted traditional Spanish themes and zarzuela repertoire. The new group, consisting of Álvaro Nieto, Araceli, Mamen, Alberto Villa, and Carlos Villa, released their debut album Al principio Boleros y Al final de la juerga in 1978, featuring classic party tunes like "La conga" and "Se va el caimán". Their breakthrough came with the 1979 release of Y al principio, boleros, which achieved significant success across Spain and Latin America. In 1982, Pequeña Compañía represented Spain at the Festival de la OTI with "Ay, amor", securing second place. The group's discography includes notable albums like Nuestra Navidad (1980), Tangos a media luz/Canciones de la Toda a Vida (1981), and Caja de música (1984). However, a shift towards original compositions in 1984 led to a decline in popularity, ultimately resulting in the group's dissolution in 1990.