Gloval Advisory bought Prime Yield - Consultoria e Avaliacao Patrimonial Ltda. for an undisclosed amount.
Gloval, owned by private investment firms Charme Capital Partners SGR SPA and Miura Private Equity, is a Madrid-based provider of valuation, engineering and real estate consulting services. Prime Yield is a São Paulo-based company that values assets and real estate loans for investment funds and bank entities.
Under the terms of the transaction, Gloval will add 80 employees to its team, comprising Prime Yield's staff and network across its three offices in Portugal and its subsidiaries in Brazil, Cape Verde, Mozambique and Angola.
Gloval President and CEO Roberto Rey said in a news release that the acquisition will enable Gloval to broaden its geographic footprint in Latin America and Africa and will allow Prime Yield to build its business in Spain and southern Europe.
Prime Yield founder and CEO Nelson Rêgo will continue in his role and will serve as Gloval's international business development manager for valuation and real estate consulting services for investment funds.
Gómez-Acebo & Pombo served as legal adviser to Gloval, while BDO provided due diligence advice. DLA Piper was legal adviser to Prime Yield.