ACQUISITION STRENGTHENS NEARING VISABEIRA’S POSITION IN ONE OF THE GROUP’S KEY GROWTH MARKETS AND LIFTS COMBINED ANNUAL U.S. REVENUES ABOVE $1 BILLION 

Nearing Visabeira, a subsidiary of Grupo Visabeira and a global leader in energy and telecommunications engineering and construction services, with a minority investment from Goldman Sachs Alternatives (“Goldman Sachs”), has acquired Carter Electric Inc., a Florida-based electrical contractor with expected revenues of more than $50 million in the current year, through its U.S. subsidiary Sargent Electric.

The acquisition represents another important step in Nearing Visabeira’s expansion strategy in the United States, currently one of the Group’s key growth engines, further strengthening its position in one of the country’s most dynamic energy infrastructure and electrification markets. The transaction expands Nearing Visabeira’s operating platform in Florida while creating new opportunities for Carter Electric’s customers to benefit from a broader range of technical capabilities and the Group’s extensive experience in delivering large-scale and complex projects nationwide.

Founded in 2003, Carter Electric is a full-service electrical contractor serving the Central Florida market from offices in the Orlando and Tampa areas. With more than 300 employees, the company operates across multiple market sectors and has built a strong track record and proven capabilities in delivering commercial and industrial projects.

Today, Carter Electric is particularly active in providing low- and medium-voltage infrastructure services throughout Central Florida, including Universal Studios and the Space Coast, serving leading customers such as SpaceX and Blue Origin. Carter Electric also operates a growing services business and provides select electrical construction services for projects across the healthcare, municipal and institutional markets.

Together with other Nearing Visabeira Group companies, including Sargent Electric, J.F. Edwards Construction Company and Verità will gain access to a significantly broader range of capabilities, enabling it to expand into additional market sectors and strengthen its presence with new and existing customers across Florida’s growing economy. These capabilities span power generation, battery energy storage systems, electric transmission and distribution infrastructure, and telecommunications projects – services already delivered by Nearing Visabeira to strategic customers across the United States.

In addition, Nearing Visabeira has been steadily expanding its presence in the data center market, leveraging its experience in delivering large-scale, technically complex and fast-track projects. The acquisition further strengthens the Group’s ability to capture opportunities arising from the significant investment cycle in electrification, energy infrastructure, data centers and artificial intelligence currently reshaping the U.S. economy.

This strategic acquisition further enhances Nearing Visabeira’s position to capitalize on the substantial growth opportunities across the U.S. energy, technology and AI sectors, expanding its capabilities, geographic footprint and customer base.

Carter Electric’s current management team, led by Doug Carter, will continue to lead the company, maintaining its strong focus on close customer relationships, commitment to employees and partners, and a culture of excellence built around safety, quality and execution, while driving the company’s next phase of growth.

According to Doug Carter, CEO of Carter Electric:

“This strategic partnership will allow us to further accelerate our growth, bringing additional services and capabilities to our existing customers while also introducing Carter Electric to Nearing Visabeira customers. We are also excited about the opportunity to strengthen our combined value proposition and better serve the Florida market.”

Combined with continued double-digit organic growth, the acquisition of Carter Electric will enable Nearing Visabeira’s operations to surpass $1 billion in annual revenues in the United States and €2.5 billion globally, further consolidating the Group’s evolution into an increasingly balanced and diversified international platform across energy and telecommunications infrastructure services.

Nuno Terras Marques, CEO of Nearing Visabeira, stated:

“The United States today plays a central role in Nearing Visabeira’s growth strategy, and this acquisition significantly strengthens our presence in one of the most attractive and dynamic markets in our industry. We are delighted to welcome Doug Carter and the entire Carter Electric team to the Nearing Visabeira family.

Carter Electric’s commitment to customer service excellence, together with its values and long-term vision, are fully aligned with the culture and principles of Nearing Visabeira. Together with Sargent Electric, JF Edwards Construction Company and Verità, we will be able to offer an even broader and more integrated range of services across the Florida market, strengthening our ability to respond to the significant investments in electrification, energy infrastructure, data centers and artificial intelligence that are transforming the U.S. economy.

We remain firmly committed to executing our ambitious U.S. growth strategy in a disciplined manner, supported by a strong and prudent financial structure that provides us with the flexibility to continue investing, growing and creating long-term value for our customers, employees and shareholders.”