Through Viriato Capital, Arada has taken a stake in a Portuguese multinational whose waterproofing systems are on the Apple headquarters, the Guggenheim Abu Dhabi and the Santiago Bernabéu.
Arada Capital Partners is pleased to announce its first investment in Portugal through the acquisition of a stake in Effisus, a leading multinational in waterproofing solutions for ventilated façades. The investment was carried out via Viriato Capital, a search fund led by Miguel Costa Freire and Pablo Alvarez Guerra.
The company
Effisus was founded in Vila Nova de Famalicão in 2005 by Pedro Carvalho and Paulo Carvalho to develop and market integrated construction solutions promoting energy efficiency and ensuring the watertightness of building façades and roofs, as well as fire protection. Its solutions apply across a wide range of situations, from cladding the façades of towers and skyscrapers to resolving waterproofing issues in gutters, skylights, window frames, joints and perforations.
The company closed 2023 with turnover above €10m. Exports account for the majority of revenue, with the United Kingdom, United Arab Emirates, Saudi Arabia and Spain as principal international markets. Effisus employs around forty people across Portugal, the UK and Dubai.
Its portfolio of exclusive products includes dozens of landmark projects: the Apple headquarters in California, the Museum of the Future and the Burj Al Arab in Dubai, the Guggenheim Museum in Abu Dhabi, the Google headquarters in Dublin, the Santiago Bernabéu in Madrid, Hudson Yards in New York, Battersea Power Station in London and the Riyadh Metro.
The investment case
Viriato Capital's investment aims to accelerate growth, strengthen the company's position in current markets and support entry into new ones. It also supports the development of solutions contributing to energy efficiency and sustainability in construction — fitting, given that the name Effisus derives from efficiency and sustainability.
Effisus holds a niche position in a market with macro tailwinds, focused on a high-value segment that is well diversified across both products and geographies. With a solid track record of growth at good margins and a robust pipeline, the company is well positioned for this new phase.