Industry: Auto-Inspection Centres
Investment Date: 2007
Exit Date: 2017
Exit Type: Trade Sale
Stake: 30.0%

MasterTest was established by Inter-Risco with the purpose of executing an industry consolidation strategy within the highly regulated auto-inspection industry in Portugal. A highly fragmented market led Inter-Risco to identify an opportunity to build a player in the Top 5 of the industry, integrating multiple single centres into a well-run, customer-centric, high quality standards and nationwide corporation.

Following a new co-investment from a related-industry player, Inter-Risco’s strategy was based on the acquisition of 11 inspection centres throughout 3 years and an ambitious operational improvement plan. Since the beginning of the investment the company has generated extensive synergies by streamlining cost structures, developing brand differentiation, and improving service quality, reliability and professionalism, while introducing CRM-based marketing tools allowing to expand the coverage area of each centre. Currently, the existing installed capacity and activity makes Mastertest #4 player in the Portuguese auto inspections market.

In 2016, to comply with the new regulatory requirements MasterTest performed an investment on its inspections lines to open the new lines for motorcycle, tricycle and quadricycle (above 250 cc).

In July 2017, Fundo Caravela completed the sale of MasterTest to Dekra SE, the world’s fourth largest expert organization in the TIC industry (testing, inspection and certification) and the world leader in auto inspection services, confirming and achieving the strategic objectives and return on capital that underpinned the investment in the sector.

Subsidiaries from Fund Inter-Risco I Caravela

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