Himoinsa acquires in Portugal
11 April 2023
Himoinsa has acquired Powersil, a supplier of generator sets and manufacturer of electrical panels and automation systems. No financial details of the transaction have been revealed.
Based in Portugal, Powersil offers mechanical, electrical and acoustic engineering services in the power generation sector in both Portugal and Portuguese speaking countries. It employs 29 staff.
According to Himoinsa, the purchase is part of its “inorganic growth strategy” and comes off the back of a partnership between the two companies that started in 2016, when Powersil was appointed official technical service partner in Portugal by Himoinsa.
Sandra Santos, managing director of Himoinsa Portugal said, “Thanks to this acquisition, we are now able to strengthen the synergies between the two companies and to start work on a joint growth plan to increase our industrial, technical and service capacity, the aim being to enhance our leading position in the Portuguese market.”
Hugo Arez, a partner and commercial director of Powersil, said, “Himoinsa and Powersil are highly reputed companies in Portugal. Now, by combining our network and professionalism, we are joining forces to offer our clients the best possible solutions, products and services.”
Himoinsa opened its Portugal subsidiary in 2002. Since then, it has become one of the Group’s most well-established European subsidiaries, according to the company. It currently has a technical-commercial and service team of 10 people, excluding the Powersil team.