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The Visabeira Group subsidiary announced the acquisition of Verità Telecommunications Corporation (“Verità”), a company that provides engineering services for fixed and mobile telecommunications networks in the Midwest region of the USA, with a turnover of more than 100 million dollars .

Verità is Constructel’s tenth acquisition since 2021, in its main markets: France, United Kingdom, Belgium, Portugal, Germany and USA. With Verità, Constructel gains a strong platform in the large and growing US telecommunications services market. Upon completion of this acquisition, Constructel’s US revenues will double to approximately $250 million, split between energy engineering services and telecommunications.

Verità, headquartered in the state of Michigan, employs around 500 employees and operates in the areas of engineering, construction and maintenance of fixed and mobile telecommunications network infrastructures. With operations primarily in the Great Lakes and Midwest regions, the company has achieved double-digit revenue growth since 2021.

With a reputation for excellence, Verità’s experience, combined with its customer-focused approach and expertise in providing turnkey solutions, aligns perfectly with Constructel’s growth strategy for the United States. By exploiting Verità’s established presence and capabilities, Constructel aims to provide high-quality turnkey solutions for the growing fiber optic and 5G deployment market.

Verità’s current management team, under the stewardship of Verità’s founder and CEO, Michael A. Falsetti, will continue to lead the company by maintaining strong customer relationships, commitment to employees and partners, and a relentless focus on quality delivery to drive the company’s next wave of growth.

According to Michael A. Falsetti, “this strategic partnership will allow us to accelerate our growth, not only providing new opportunities to better serve our current customers and facilitating new relationships, but also fostering the digital and management transformation that has already it was taking shape. I foresee a prosperous trajectory for Verità and its workforce.”

For Nuno Marques, CEO of Constructel Visabeira, “this investment represents an important milestone. It positions us at a level that will allow us to achieve annual sales of around 250 million dollars in the United States, balancing our growth in the Energy and Telecommunications sectors. As we execute our expansion strategy in the United States, where we have strong long-term ambitions, this investment will play a key role.” He added, “Based on our shared values ​​and a common vision for the future, coupled with my deep understanding of Verità’s strong foundations, I am confident that we can leverage commercial and operational synergies to realize our customers’ aspirations and achieve a trajectory of growth and sustained profit. Additionally, the strength of our balance sheet will allow us to continue to pursue our growth priorities and our acquisition strategy in the coming years, in Europe and the US.”

Since 2021, Constructel has achieved more than double-digit growth in organic revenues and more than double-digit growth in EBITDA margins, reporting a turnover of around 1.3 billion euros. These numbers reflect annual sales and margin growth of over 20%, supported by a combination of strong organic expansion, which represents the majority of Constructel’s growth, and a history of successful acquisitions, supported by a solid balance sheet. Constructel has significantly increased its Energy Engineering Services activity, which contributes to more than 30% of the company’s global revenues, supporting customers with investments in transmission and distribution networks, renewable energy and electric vehicle charging infrastructure. At the same time, Constructel reinforced its international presence in France, Belgium, the United Kingdom, the USA and Germany, which together contribute more than one billion euros to the company’s revenue. The transaction is expected to close in the second quarter of 2024.