PORTUGAL - Espírito Santo Capital acquires 30% of Amal Group

Amal Group produces pipes, tanks, silos, chimneys, equipments and special steel structures for the oil, petrochemical, paper and energy industries.

Headquartered in Moita, the group has two industrial plants, in Setúbal and Sines, as well as a strong presence in Angola through Amal Angola. It reported a EUR 100m turnover last year.

The investment will facilitate the implementation of Amal's current strategy: expansion into emerging markets, especially to Maghreb and Brazil, a joint venture in the Brazilian market is currently under way; operational improvements; and reorganisation and strengthening of the team.

Amal's founder and main manager, Samuel Pacheco, retains a 70% stake.

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• Topics
• Expansion
• Southern Europe