Visabeira announces closing of €200m investment from Goldman Sachs

Constructel Visabeira S.A. (“Constructel Visabeira”), a subsidiary of Portuguese multinational and multi-sector holding company Grupo Visabeira, SA (“Grupo Visabeira”), has announced the closing of the transaction with Goldman Sachs Asset Management (“Goldman Sachs”), following receipt of customary competition and regulatory approvals.

Nuno Terras Marques, CEO of Constructel Visabeira and Grupo Visabeira, said: “We are very happy to be moving swiftly forward with the backing of our new long-term strategic partner and investor. We have the opportunity to accelerate both our organic and M&A expansion plans in a competitive market ripe for consolidation.”

Constructel Visabeira is a leading service provider in the telecommunications and energy sectors with more than 40 years of extensive experience. The company has differentiated know-how in designing, engineering, building, maintaining and operating network infrastructures. Constructel Visabeira’s integrated skills and wide range of “turnkey” solutions make it a market leader and favoured partner to incumbent operators internationally. Constructel Visabeira is present in Portugal, France, the United Kingdom, Germany, Belgium, Denmark, Italy, Spain, Ireland and the United States of America.

Within the organic growth strategy of the European and USA telecommunications and energy market, sustained on such investment, Constructel Visabeira has acquired the following entities in the following markets; CUNHA SOARES & FILHOS S.A. – (Portugal), INPOWER GROUP – CONSORZIO STABILE SCPA – (Italy), NORTH WEST SOLAR LIMITED – (UK), OBELISK INTERNATIONAL GROUP HOLDINGS LIMITED – (Ireland) and Elektro-Würkner GmbH – (Germany).

Throughout all of these deals, Grupo Visabeira’s in-house legal team has led the legal aspects (signature of the Non-Disclosure Agreement, the Non-Binding Offer up to the signature of the final Transaction Documents (i.e. Share Purchase Agreement, Shareholders Agreement and other related documents)), in strict coordination with external legal advisers, and always totally aligned with the management structure of the company.

Isabel Fernandes, General Legal Counsel at Grupo Visabeira said:There is no doubt that Grupo Visabeira’s in-house team has been assuming an active and relevant role on the conducting of its business operations and particularly on the execution of strategic investments/transactions, as it is the case of Goldman Sachs, being regarded and treated as a business partner, able to combine the legal background and expertise with the development of a genuine business insight view, broadening their knowledge and improving their problem-solving capacity, which has been fundamental for the overall success of the business and the legal team!”

Alvarium and Nau Securities acted as corporate finance advisors, Ernst & Young provided financial and tax advice and Vieira de Almeida provided legal guidance to Constructel Visabeira. Oliver Wyman, Linklaters UK, and Deloitte advised Goldman Sachs on the transaction. Sullivan & Cromwell advised Goldman Sachs in relation to competition law and foreign investment matters.

Michael Heron