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The English group Arrow Global, whose ex-Finance Minister Maria Luís Albuquerque is a non-executive director, has just announced its expansion in Portugal, where it was already present with Whitestar, a collection company. receivables. Now he will also have in his portfolio the property manager Norfin Investimentos. The operation, which involves the acquisition of the company's total capital, will have to go through the sieve Banco de Portugal (LoP).
Norfin, an asset management and real estate fund company currently with a portfolio of 1, 5 billion under management and 50 employees, was founded in 1999 and has João Brion Sanches (CEO), Alexandre Relvas and Felipe de Botton as shareholders.
According to a statement released by Arrow Global in its website, the transaction has a starting price of £ 15.1 million (€ 17 million), although it is still possible that according to the results of the 39, business, there will be a subsequent payment to sellers, which can reach a maximum of 29, 4 million pounds (33 million euros). According to the same document, the operation will be financed by own resources.
The statement indicates that Norfin's revenues reached 6.7 million euros at the end of 2017, with a pre-tax profit of 2.1 million euros.
According to another statement, this time sent to Portuguese newsrooms, this acquisition strengthens Arrow Global 's investment and asset management capabilities. "We are very excited about this acquisition, which is strategic for the entire Arrow Group, as many of the capabilities and skills that it brings to the management of real estate assets in Portugal are replicable in many areas. 39, other geographic areas where Arrow Global is present. " According to Lee Rochford, CEO of Arrow Global Group, Brion Sanches, CEO of Norton, who will retain his position with the company, is now part of the UK group.
We have been very pleased to join Arrow Global in recent years and have created a company whose know-how and capabilities will allow us to reinforce the growth of the Arrow Group in Portugal and the geographic regions where it is present . "
Arrow Global The FTSE London Index, which uses sophisticated analytical models to identify, acquire and manage banks and other financial institutions," the statement said. It operates in six markets: in addition to the United Kingdom and Portugal, he is still in the Netherlands Belgium, Italy and Ireland
In March 2016, Maria Luís Albuquerque, former Minister of Finance of the government led by Passos Coelho, was a member of the PSD when he announced its participation in the London-based non-executive administration Arrow Global owned in Portugal Whitestar Asset Solutions, a credit and real estate asset management company, with more than $ 6.6 billion euros under management
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