Leading vehicle technical inspection (“VTI”) operator in Portugal
Type of Operation
Portobello Structured Partnerships Fund I
Vehicle technical inspection (“VTI”) operator
Founded in 1993 and based in Portugal, Controlauto is the leading vehicle technical inspection operator in Portugal and one of the five largest VTI groups in Iberia, with 51 inspection centers across Portugal carrying out ~1.6 million inspections per year. The Controlauto brand is widely recognized and linked to high quality services provided by certified and diligent professionals.
In this transaction, Portobello partners with Brisa Auto Estradas de Portugal – the leading motorways and mobility player in Portugal and Controlauto’s majority shareholder – to internationalize Controlauto’s business through M&A in Spain and other Southern European countries.
As part of the transaction, Portobello also acquires a stake in Controlauto Serviços, a platform aiming at developing businesses adjacent to vehicle testing. As an example, Controlauto Serviços recently launched the VerifiCar brand in Portugal with the aim of providing more security, transparency and confidence in the buying and selling process of used vehicles between individuals.
Why invest in Controlauto?
- High-quality business in Portugal: market leader, attractive margins and strong cash conversion
- Stable and predictable industry, with structural tailwinds related with mobility and significant entry barriers
- Co-investment with a world-class partner, and collaboration with an outstanding Management Team
- Company is highly committed to ESG initiatives
- Opportunity to internationalize the business in Spain and other Southern European countries through M&A