Urbas buys the promoter CHR for €9M

Urbas buys the promoter CHR for €9M

Urbas has acquired the Spanish construction company and developer CHR, based in Castilla y León, for 9 million euros, as reported by the company on Wednesday.

For Urbas, this operation "is a big step" in its expansion plans and adds in a note that it has allowed it to "recognize the value of reference markets" at the state level, such as those of Valladolid, Burgos, Salamanca and Zamora.

He adds that the purpose of this purchase is "to develop an orderly organic growth, in which synergies are created between all the companies" that make up the group, to reach more than 1,000 million in turnover and a gross operating result (EBITDA) by 2025 of nearly 150 million.

All this, says the company, "will contribute to achieving the objective" of more than 2,000 million capitalization. Urbas indicates that its forecasts are consolidated with the incorporation of the CHR business, which with a portfolio of more than 1,000 homes in different phases of development brings the number of homes to be delivered to more than 4,000 in 2025.

With this acquisition, Urbas will have a direct workforce of close to 1,200 workers, after the integration of the hundred CHR workers.

Urbas's growth formula dates back to the end of 2021, after buying the construction company Jaureguizar, followed by the acquisition of Alandulus Real Estate, the agreement with the Belgian company Care Property Invest and the purchase of Fortia Healthcare. In the Infrastructure and Building area, Urbas strengthened its position with the acquisitions of the construction companies Murias, Joca, Ecisa and Urrutia.

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