New Shareholder Bamer SA

Bamer, one of the leading Iberian companies in the production of office partitions and tailor-made carpentry for offices, housing, and hotels, has taken an important step by including in its shareholder structure a new investor, the Spanish company BMR, until today the exclusive distributor of the Portuguese brand in the Spanish market.

Higher SGPS, which until now has held 100% of Bamer, decided to sell 33% of the company's capital to BMR, recognizing the importance that the Spanish company has had in its path and growth in the neighboring country market. The sale will also boost expansion to other international markets such as France, wherefrom next September it will have a direct presence.

Bamer has been responsible for supplying partitions and carpentry for some of the largest projects for offices, hotels and residential complexes in Iberia. Noteworthy are Microsoft's headquarters in Lisbon and Madrid, KPMG's headquarters in Lisbon, ING Bank's headquarters in Madrid, Spaces’s coworks in Iberia, and it is currently producing carpentries for one of the most renowned hotels worldwide and two luxury residential condominiums in the Lisbon region.

Raul de Miguel, CEO of BMR, will be part of the Board of Directors of Bamer, and will be responsible for the internationalization department.