215
215
  • Transaction / Assets
    Vallis Sells Elevo Group to Nacala Holdings
  • Seller
    Vallis Consolidation Strategies
  • Buyer
    Nacala Holdings
  • € MM
    90

Vallis Fund Sells Elevo Group for €90MM

13 September 2017

The Vallis Consolidation Strategies fund sold the Elevo Group to Nacala Holdings for about 90 million euros this week.

A statement from Nacala, quoted by the Jornal de Negócios, read that “this transaction, which consists of the acquisition of the full capital of the Elevo Group, together with a capital increase and the purchase of bank loans, will strengthen the company’s capital base, with the consequent reduction of indebtedness, and aims to position Elevo as a major player in the area of infrastructure, logistics, energy and environment, both in Portugal and in the international market, especially in Africa and Latin America.”

SRS Advogados advised the selling party in the deal, by way of a team led by Alexandra Valente. According to the company, this is the largest private equity operation in Portugal in the construction sector.

The law firm FCB Sociedade de Advogados advised the buyer.

Vallis acquired and restructured the Edifer, Monte Adriano, Hagen and Eusébios groups, thus forming the Elevo Group. Last year, the Elevo had a turnover of around 450 million euros.

Original Story: Vida Imobiliária – Ana Tavares

Translation: Richard Turner