Portuguese multinational Metalogalva buys Electrofer – Industria

Portuguese steel engineering and protection company Metalogalva will buy Electrofer, a Marinha Grande metalworking company with more than 250 employees.

In a statement sent Friday to newsrooms, VigentGroup, which has a presence in 15 countries and a combined turnover of €400m in 2022, announced that the acquisition is part of the Portuguese multinational’s “growth strategy based in Trova”. It will boost its production capacity by about 30,000 square meters, which will house all of Electrofer’s engineering and production staff.

The acquisition, the value of which has not been disclosed, is still subject to the opinion of the competition authority. “We are very satisfied with this process, which allows us to guarantee the immediate enhancement of our production capacity, responding to the demands of Metalogalva and Electrofer existing customers and the market potential. We are continuing the ambitious development plan and are interested in growth opportunities ‘organic and inorganic’,” said Sergio, Chairman of the Board of Directors of Metalogalva. Silva, on the same note.

Electrofer, “recognized in the heavy metalworking sector for the technical quality of its engineering solutions, implemented in various interventions in large projects, of which, with greater exposure in the past year, stands the recovery of the D. Luís Bridge, in Porto out, the construction of the Santo Bridge Ovidiu, in Gaya”, underwent a restructuring by venture capital fund CoRe Capital.

This process, which began in 2019, included capital injections, qualification of technical personnel and strengthening of management skills, which “allowed Electrofer’s global business to record sales growth of around 30% and almost triple EBITDA between 2019” . And 2022, a good performance that was reinforced in 2023, the year in which the surface treatment unit showed unprecedented levels of sales growth and profitability.” In 2022, Marinha Grande’s metalworking company generated €21.9 million.

“The recovery process carried out by Electrofer is fully consistent with the objectives for which the CoRe Restart Fund was created: to recover companies and bring them back stronger to the market and in conditions of consolidation of leading national groups, Metalogalva stands out as an example of excellence, creating more value for the Portuguese economy, At the same time, profitability for the investors in the CoRe Restart Fund”, confirmed CoRe Capital Partner and Chairman of the Board of Directors of Electrofer, Pedro Araújo e Sá.

Metalogalva has an active presence in 15 countries and four continents, including production centers in Germany, Saudi Arabia, Brazil, France, Ukraine, Angola, Poland, Portugal and the United States, with more than 1,400 employees. Having inaugurated, last May, its first production unit in the United States, the company is now taking “another important step in its sustainable development strategy and commitment to innovation,” says the Trova-headquartered company, adding that it expects the end of 2023. With consolidated sales of 460 One million and 2400 employees.