Gloval acquires the Portuguese company Prime Yield to strengthen its valuation and real estate consulting services for investment funds
With the acquisition, Gloval enters several Portuguese-speaking markets in Latin America and Africa.
Under its new ownership, Prime Yield plans to expand its current presence to Spain and the rest of Europe.
20 DECEMBER, 2018- Gloval, a leading firm in valuation, engineering and real estate consulting services resulting from the integration of, among others, the companies Ibertasa, Valtecnic and VTH, announces the acquisition of Prime Yield: a Portuguese company established in several Portuguese-speaking markets, with a solid track record providing valuation of assets and real estate loans for investment funds and banking entities.
Prime Yield, registered in the Portuguese securities commission (CMVM) and certified by RICS, provides services to a wide range of clients, including large private equity firms, financial institutions, insurance companies and players from the hospitality, automotive, healthcare and logistics industries. The company has advised leading firms such as Bain Capital, KKR and Cerberus, and financial entities such as the Banco Portugués de Investimento (BPI), GE Money, Santander, BBVA and Bankinter.
Following this acquisition, Gloval will add the 80 professionals comprising Prime Yield’s staff and network, spread across its three offices in Portugal and its subsidiaries in Brazil, Cape Verde, Mozambique and Angola, to its team.
Nelson Rêgo, founder and chief executive of Prime Yield, will keep his current role and act as Gloval’s international business development manager for valuation and real estate consulting services for investment funds. Since 1998, Rêgo has developed a successful career in the real estate valuation field supporting a wide range of clients, including Banco Comercial Português (BCP), Santander, BBVA, Credit Suisse and several funds that have relied on him to acquire asset portfolios.
Rêgo said that: “For Prime Yield, joining Gloval is a unique opportunity to be part of a solid company, benefit from its extensive know-how and expand our services to other markets.”
Roberto Rey, President and CEO of Gloval, said: “This deal allows us to integrate a leading provider of valuation and real estate consulting services for large international investment firms. In addition to that, it also gives us the opportunity to expand our international footprint towards Latin America and Africa and to develop Prime Yield’s business in Spain and in southern Europe.”
Prime Yield is the sixth acquisition of Gloval after integrating the valuation companies Ibertasa, Valtecnic and VTH in 2017, and adding VT Asset and OCO in 2018: two small firms specialized in providing real estate and engineering consulting services, respectively.
Gloval has been advised in this transaction by Gómez-Acebo & Pombo (legal) and BDO (due diligence), while Prime Yield has been advised by DLA Piper (legal).
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Gloval is a leading firm in valuation, engineering and real estate consulting services. The company integrates Ibertasa, Valtecnic and VTH –three preexisting brands with a solid market share, more than 70 years of accumulated experience and responsible for more than 5 million valuations–, has a team of more than 1,000 professionals, presence across Spain and also provides international coverage.
Gloval is trusted by all the key players of the real estate industry and integrates four business units, which allow the company to support its clients across the sector’s value chain: valuation, consulting, engineering and data analytics.
Under the ownership of private equity firms Charme Capital Partners and Miura Private Equity and the company’s management team, Gloval is currently carrying out a diversification strategy focused on increasing its portfolio of services, meeting the needs of new industries and expand geographically.
For more information visit www.glovaladvisory.com.