Odevo Expands Market Reach with Portik Group Acquisition

Deal News | Jun 27, 2025 | Iberian Lawyer

Odevo Expands Market Reach with Portik Group Acquisition

Swedish firm Odevo has successfully acquired the Portik Group, thereby securing a significant foothold in the Spanish market. This acquisition, which includes a 100% stake in Portik Group, enhances Odevo's international impact, growing its portfolio to encompass 2.2 million managed homes, supported by a workforce of 11,200 professionals globally. The transaction, subject to approvals from Spain’s Directorate-General for Insurance and Portugal's competition authority, will see Portik continue to operate independently across its existing regional presence in Spain, Portugal, Mexico, and Italy, with Jorge García Ala remaining as CEO. On the advisory front, Pérez-Llorca, a leading legal firm, provided essential multijurisdictional support relevant to Spanish, Portuguese, and Mexican law. Meanwhile, EY advised Odevo on financial matters. Oxy Capital, Portik's main investor, along with Jorge García Ala, will reinvest a substantial portion of the deal proceeds into Odevo shares, further aligning their interests with the future ambitions of the parent company.

Sectors

  • Property Management
  • Legal Advisory
  • Financial Advisory

Geography

  • Spain – Portik Group is the leading property management company in Spain and the acquisition marks Odevo's entry into the Spanish market.
  • Portugal – The acquisition requires regulatory approval from Portugal's competition authority due to Portik's presence in the region.
  • Mexico – Portik Group operates in Mexico, and Pérez-Llorca's Mexican office was involved in providing legal support.
  • Italy – Portik Group continues to operate in Italy as part of its independent operations post-acquisition.
  • Sweden – Odevo, the acquiring company, is based in Sweden.

Industry

  • Property Management – The acquisition involves Odevo, a company operating within the property management sector, and Portik Group, a leading player in Spanish property management.
  • Legal Advisory – Pérez-Llorca acted as the legal advisor to Odevo, providing multijurisdictional legal support during the acquisition.
  • Financial Advisory – Financial advice was key in this acquisition, with EY advising Odevo and KPMG advising Portik Group.

Financials

  • Not specified – Reinvestment by Oxy Capital and Jorge García Ala into Odevo shares.

Participants

NameRoleTypeDescription
OdevoAcquiring CompanyCompanySwedish property management firm acquiring Portik Group.
Portik GroupTarget CompanyCompanyA leading property management company in Spain.
Oxy CapitalSelling CompanyCompanyPortik Group's main investor reinvesting in Odevo.
Pérez-LlorcaLegal AdvisorCompanyProvided multijurisdictional legal support to Odevo.
EYFinancial AdvisorCompanyProvided financial advisory services to Odevo.
KPMGFinancial AdvisorCompanyProvided financial advisory services to Portik Group.
AvegoLegal AdvisorCompanyProvided legal advisory services to Portik Group.
Jorge García AlaCEOPersonCEO of Portik Group, remaining as CEO post-acquisition.
Daniel LarssonCEOPersonCEO of Odevo overseeing Portik operations post-acquisition.