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Sonae Sierra buys 50% of companies belonging to Luís Malheiro Group
20 May 2019 | Ana Tavares

Sonae Sierra acquired 50% of three companies belonging to Grupo Luís Malheiro group, a new partnership intended to expand its offer in project management, engineering and building maintenance.

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The companies in question are: LMSA, specialised in engineering technical installations, LMGE specialised in building maintenance management, building operation and maintenance, technical assessments and energy audits, and LMIT, which is dedicated to developing software to optimise energy and water consumption.

Sonae Sierra will now be able to offer its clients «a much more extensive set of services» in all areas of engineering and architecture, «with more know-how and ability to present integrated solutions for all types of challenges on any real estate project, with a team of expert professionals with a diversified set of skills», it can be read on a release.

José Falcão Mena, in charge of architectural and engineering services at Sonae Sierra, states that «this partnership allows us to reinforce our positioning as partners of choice on engineering, design and architecture services aiming at fully developing all types of real estate projects, which represents an important landmark for Sonae Sierra’s service offering both nationally and internationally and, at the same time, instilling a new dynamic into an increasingly more strategic area for Sonae Sierra».

Luís Malheiro, Grupo LM’s CEO, is certain that «this partnership (…) is the result of the thorough knowledge both parties have of each other and represents a great challenge to become even more competent, efficient and better prepared, reinforcing our ability to evolve, internationalize and achieve a sustained growth for the companies».

Sonae Sierra closed the year’s first quarter with a 15.6% growth yoy, representing a 20 million euro yield. According to a release from the company, this growth is the result of not only the European portfolio’s performance, but also of the services department.