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Saturday, March 25, 2023

Portobello and Santalucia join the renewables business through Servio and Iris Global

Servio, an infrastructure services firm owned by Portobello (75.01% of the capital) and Ferrovial (24.99%), has reached an agreement with Iris Global, a company controlled by Santalucia Insurance Company, to promote business To form a coalition. Improvement and rehabilitation of immovable property.

Both companies will have a 50% stake in a newly created company that, with a long history in facility management, will control a digital platform specialized in these activities in which SERVO already operates. Now, the involvement of Iris Global, which provides support services to 17 million customers with insurance policies from both Grupo Santalucía and other insurance companies, will strengthen the jointly introduced reforms and rehabilitation proposal.

SERVO already has experience with projects in both the private and public sectors

The operation has not yet received relevant authorizations in this type of process, including from the National Market and Competition Commission (CNMC).

In the Improvement and Repair business, SERVO already has experience with projects in both the private and public sectors. In the latter, the company directed by Juan Ignacio Beltrán was awarded last summer by the Municipal Housing and Land Company of Madrid (EMVS), dependent on the Madrid City Council, to carry out the improvement works of all its houses of new acquisitions. The contract includes construction, rehabilitation and maintenance work on the buildings. The services will be provided for a total of two years for an amount of 3.7 million Euros. This contract was added to another contract, in force from November 2020, for comprehensive maintenance of buildings owned by EMVS, as well as houses and related elements. The total amount of this contract is 11 million for a period of two years.

Most recently, Servio was selected by Airbus to rehabilitate the roofs of buildings A20, A22, A26, A01N09 and A21 (partially) at its facilities in Elecsas, Toledo, to repair all leaks affecting production. Can be done ,

In February 2022, Portobello acquired 75.01% of the infrastructure business of Ferrovial Services. Ferrovial retained 24.99%. The value of 100% of the subsidiary, which was renamed Servo, was a maximum of 220 million. The firm, specializing in the maintenance of transport infrastructure, healthcare and social services, facility management and industrial services, is expected to generate revenue of 856 million in 2021. To this end, it has set its sights on the disinvestment of the services sector of Saceir – the sales handbook will be delivered in the coming days – and maintains an open line of talks with Acciona for the eventual acquisition of its ancillary services.

World Nation News Desk
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