CoRe Capital sells Electrofer
According to ECO, Mealogalva, the company that purchased it, which belongs to the VigentGroup, had undergone a period of restructuring by CoRe Capital which part-specialises in buying distressed assets and turning them around and selling them on.
The amount that CoRe sold the company for has not been revealed and the sale has yet to get the green light from the regulator.
CoRe Capital had acquired 60% of Electrofer’s capital in 2019 and sold its share after the company was returned to financial health with a 30% increase in sales, and an EBITDA that had trebled in value.
Electrofer has two business units: producing metal structures for the construction industry and supplying metallic coating solutions. Last year, for example, it worked on the restoration and conservation project for Porto’s Luís I bridge, and the construction of the Santo Ovídio Viaduct in Vila Nova de Gaia.