Clearwater has advised the founding shareholders of Sorefoz on the sale of an 81% stake in the business, to TESTA Group.
Sorefoz is a leading operator in the distribution of home appliances, telecommunications and micro informatics, in Portugal. The company intervenes in the market as a purchasing centre, providing services such as logistics, to a network of c.260 associated retailers with a common identity (Tien 21 and Confort), with c.1,200 independent retailers, and other players in the market.
TESTA Group is a holding company invested in several business areas, including natural smoke ventilation and daylight solutions, fire and smoke curtains, doors (fire-rated, acoustic, security, bullet protection), fire glazing systems (passive fire protection), heat resistant products (furniture/fit-out), and wholesale/retail.
With this acquisition, TESTA Group becomes the Portuguese market leader in the wholesale appliances sector, following the acquisition of Macorlux last year.
