Sonae launches industrial investment company Prismore Capital
Portugal’s Sonae Capital Industrials has changed its name to Prismore Capital and has acquired two Spanish companies – Madrid-based Waste Plastic Iberia (WPI) and 33% of the capital of the Catalan company Greenertis according to Gil Mata, the CEO of the new group held by Efanor, a holding of the group owned by the Belmiro de Azevedo family.
The new family group, which has a smorgasbord of factories in Portugal, Spain, Italy, Mexico and Canada, is focused on acquisitions of companies involved in sustainable inovation industries.
Efanor is a family office holding that controls the Sonae (SGPS) Group, which in turn holds large companies such as Continente (supermarkets), NOS (telecommunications), Sonae Sierra (shopping centres), Worten (home appliances and electronic items) and Musti (pet shops).
It also has Sonae Arauco – one of the largest wood derivatives companies in the world – and Sonae Capital Investments – with fitness companies Solinca and Element – and hotels – The Editory Hotels – and has recently sold Troia Resort to the UK’s Arrow Global.
The holding also has the now renamed Sonae Capital Industrials that aggregated the former industrial assets held by Sonae Capital and Sonae Indústria.
It is this company that has been renamed Prismore Capital, now repositioned and with its own identity and strategy to make the manufacturing and industrial companies it holds more sustainable.
As for the latest acquisitions by Prismore Capital, Gil Mata told the business daily Negócios: “These are companies in Spain that have expertise in advanced recycling technology that enable plastic waste to be recycled as part of a circular economy so it doesn’t end up being incinerated or in landfills, but is turned into pyrolysis oil”.
Pyrolysis oil, also known as bio-oil or biocrude, is a synthetic fuel produced by heating organic materials like biomass and waste plastics in an oxygen-free environment. This process, called pyrolysis, involves the thermal decomposition of the materials at high temperatures, typically around 500°C (900°F). The resulting pyrolysis oil is a complex liquid mixture of organic compounds, including oxygenated compounds, polymers, and water.
