Lisbon-headquartered shopping centre specialist Sonae Sierra has acquired a 50% stake in three companies belonging to a Portuguese project management firm, broadening its business scope in engineering project management, building maintenance and sustainability software.
Financial details were not disclosed.
According to Sonae Sierra, the investment in the three businesses of the Luís Malheiro (LM) Group, adds key services which can be deployed across all types of projects, both in Portugal and abroad.
'This partnership allow us to strengthen our position as preferred partners for engineering, design and architecture services for every conceivable type of real estate project, representing an important milestone in Sonae Sierra’s national and international services, while also imparting a new dynamic in a business area increasingly more strategic to Sonae Sierra,' said José Falcão Mena, head of Sonae Sierra’s architecture and engineering services area.
The companies in question are LMSA, specialising in projects of technical engineering facilities; LMGE, specialising in maintenance management, building maintenance and operations, technical audits and energy efficiency; and LMIT, which develops software for energy and water consumption optimisation.
Luís Malheiro, chairman of the LM Group, said: 'This partnership, established with a customer we have worked with for more than 30 years, stems from solid knowledge on both sides, challenging us to be even more competent, more efficient and better prepared, and bolstering our development capacities, internationalisation and sustained company growth.'
LM, which primarily built its reputation on retail real estate across some 30 years in the design, architecture and management of engineering projects, has developed into an all-rounder, the firm said, with expertise in mixed-use projects, retail real estate, offices, residential properties and hotels in multiple geographies.
