The Portuguese construction company Grupo Casais has announced the acquisition of Terratest’s production unit in Spain. Terratest is a company specialising in foundations for construction and soil improvements. The Portuguese company emphasises that this deal guarantees it an “Iberian scale” and also allows it to look at “international opportunities” with a reinforced capacity.
Grupo Casais now intends to invest in the modernisation of Terratest’s production unit in Seville, as well as beefing up its production and maintenance areas.
In a communiqué, the Portuguese construction company did not divulge the value of the deal, but the Spanish newspaper El Confidential said the deal was closed for €13.5 million.
“This acquisition clearly expresses our strategy to specialise and internationalise. We have gained scale and strengthened our skills set by integrating highly-qualified teams, capable of increasing the Casais Group’s services across the Iberian peninsula”, said Casais Group President, António Carlos Rodrigues in a communiqué”.