Explorer Investments

Explorer Investments, S.C.R, S.A., established in 2003 and based in Lisbon, Portugal, is a prominent private equity and venture capital firm focused on growth capital and buyout investments. The firm targets a wide range of sectors, excluding real estate and finance, primarily investing in Portuguese companies, with occasional investments in Spain. Its typical equity investments range from €15 million to €45 million, while total deal sizes can reach up to €150 million when leveraging debt. Explorer Investments takes either majority or minority stakes in its portfolio companies, ensuring a decisive influence on management, and aims for exits within three to six years, typically through sales to strategic or financial investors. The firm is recognized for its extensive experience and strong connections within the Portuguese business landscape, managing assets exceeding €1 billion across its investment areas. In addition to its investment activities, Explorer provides advisory services in real estate and tourism.

Pedro Coutinho

Partner

Rodrigo Guimaraes

Co-Founder, Partner, Board Member and CEO

Elizabeth Rothfield

Co-Founder, President of the Board, Investment Commission Member and CEO

Jose Tiago Silva

Partner, Member of the Executive Committee and Board Member

António Rocha e Silva

Partner

51 past transactions

Okra Solar

Seed Round in 2022
Okra Solar is an IoT technology solution that enables solar generating communities to share and utilize more energy. It is a plug-and-play smart grid technology that enables rapid electrification for last-mile communities. Using mobile payments, modular grid design, and remote monitoring, they provide utility companies with a low-cost, data-driven solution to operate solar networks in hard to reach communities. They are on a mission to connect off-grid communities to the modern economy. Okra Solar was founded in 2016 and is headquartered in Sydney, Australia.

4Teams

Private Equity Round in 2017
4Teams is a Portuguese company that specializes in the manufacture and commercialization of sports merchandise. The company focuses on producing textile products, catering to the needs of various sports enthusiasts and organizations. By prioritizing quality and innovation, 4Teams aims to enhance the sporting experience through its diverse range of merchandise.

SMARKIO

Seed Round in 2016
SMARKIO, lda. operates a digital marketing platform that helps marketers to generate leads and increase the performance of campaigns. Its services include copywriting, marketing, business intelligence, quality assurance, and deliverability. The company was founded in 2015 and is based in Porto, Portugal. As of October 16, 2020, SMARKIO, lda. operates as a subsidiary of Direct.One S/A.

Pagaqui

Private Equity Round in 2015
Pagaqui Portugal is a company based in Cascais that specializes in providing a comprehensive payment system suite designed for convenience services. The company enables users to perform various transactions, including mobile phone balance transfers, invoice payments, tax payments, ticket purchases, and the acquisition of e-money cash vouchers. These services are facilitated through proprietary Pagaqui Points, allowing customers to make safe and straightforward payments. By focusing on user-friendly solutions, Pagaqui aims to enhance the payment experience for its clients in Portugal.

Douro41 Hotel & Spa

Private Equity Round in 2015
The Douro41 Hotel & Spa is a contemporary hotel in harmony with the amazing natural surroundings. Beautifully situated hotel, right on the banks of the Douro, with fabulous views and excellent room comfort. Almost everywhere in the hotel you look out on the passing river and the green hills. The guarantee par excellence for a relaxing stay in a natural and contemporary setting.

Adclick

Private Equity Round in 2015
Adclick provides online marketing, lead generation and web traffic for businesses.

MM Group Lda

Private Equity Round in 2015
MM Group Lda, based in Braga, Portugal, specializes in the manufacturing of ducts and ventilation components. The company produces a variety of duct shapes, including circular, rectangular, and oval, along with essential components that ensure the effective operation of ventilation systems. By focusing on the quality and functionality of its products, MM Group Lda aims to meet the demands of the ventilation industry.

Ibero Massa Florestal

Private Equity Round in 2015
Ibero Massa Florestal, Lda, founded in 2011 and headquartered in Lisbon, Portugal, specializes in the production and commercialization of bio-charcoal and other wood derivatives for domestic and agricultural applications. The company is recognized as a pioneer in this field, utilizing innovative Portuguese technology to create Ecochar, a 100% ecological product designed to enhance soil quality in agricultural and forestry settings. By employing green technology and slow pyrolysis, Ibero Massa Florestal transforms agricultural and forest biomass into a sustainable bio-fuel, providing a safe and cost-effective alternative to traditional charcoal. The company's commitment to eco-friendly practices positions it as a leader in the biocarbon market.

Texamérica - Têxteis

Private Equity Round in 2015
Texamérica - Têxteis, Lda. is a Portuguese fashion industry is specialized in all apparel circular knitted and plain fabrics segments.

Scoop Portugal

Private Equity Round in 2015
Scorecode Têxteis SA is an exporting company, inserted in the sector of the textile textile industry that distinguishes itself by the human factor of high experience and dedication.

Marize

Private Equity Round in 2015
Marize is specialized in production of jacquard home textiles.

Greenfiber Tech

Private Equity Round in 2015
Greenfiber Tech, S.A., founded in 2011 and based in Rebordosa, Portugal, specializes in the manufacture of sustainable composite products aimed at enhancing outdoor spaces. The company focuses on developing innovative materials that combine natural fibers with a polymer base, resulting in high-performance solutions without the use of harmful additives, stabilizers, or pigments. By utilizing selected natural materials and promoting the recovery and reuse of raw materials, Greenfiber Tech significantly reduces environmental impact. Their flagship product, SmartComposite®, exemplifies this approach, offering a durable and visually appealing alternative for applications such as flooring and decking, where traditional wood products may fall short. The company's commitment to sustainability positions it as a leader in the green materials market, addressing both aesthetic and functional needs.

Villa C Boutique Hotel

Private Equity Round in 2015
Villa C Boutique Hotel is a DHM - Discovery Hotel Management unit and a member of Design Hotels.

Throttleman

Private Equity Round in 2015
Throttleman is a brand owned by Brasopi-Comercio De Vestuário, S.A., a company established in 1991 and based in Maia, Portugal. It operates retail stores specializing in apparel, including t-shirts, children's clothing, undergarments, outerwear, swim trunks, knits, and other clothing lines. In addition to physical retail locations, Throttleman also sells its products through online channels, catering to a diverse customer base. However, it is important to note that Brasopi-Comercio De Vestuário, S.A. is currently under liquidation.

Crivedi Vestuário

Private Equity Round in 2015
Crivedi Vestuário operates as a manufacturer, distributor, and retailer in the fashion industry, specializing in woven apparel. The company offers a diverse range of clothing items, including shirts, tops, trousers, dresses, and skirts. Crivedi sources and develops various fabrics, such as dyed yarns, printed and embroidered textiles, linens, denim, polyester, and cotton. By focusing on organic materials, Crivedi aims to provide consumers with enhanced clothing options at budget-friendly prices while delivering a personalized and unique service.

Shikan & Grill

Private Equity Round in 2015
Shikan & Grill is a drive-in restaurant located in Vila Nova de Famalicão, Portugal, specializing in a diverse menu that includes barbecued chicken, burgers, salads, snacks, and desserts. The establishment offers customers the convenience of drive-in and take-away services, focusing on delivering healthy and fresh fast food options. To enhance its customer experience, Shikan & Grill has implemented digital signage, providing information about menus, products, and prices, along with an external communication station.

BBG Aluminium Sytems

Private Equity Round in 2015
BBG Aluminium Systems specializes in the manufacturing and assembly of a wide range of aluminum products, including doors, windows, metal structures, railings, and guardrails. The company focuses on creating a minimalist design for its aluminum windows, which are tailored to meet customer specifications and enhance technical performance. By combining advanced technology with high-quality raw materials, BBG Aluminium Systems aims to deliver products that reflect both functionality and aesthetic appeal, contributing to contemporary urban architecture.

Grestel

Private Equity Round in 2014
Grestel is a manufacturer specializing in tableware, serving accessories, and ovenware crafted from high-fired stoneware and premium natural resources sourced from Portugal. The company combines artisanal ceramic techniques with advanced technology to produce durable and stylish products suitable for oven-to-table use. By integrating traditional craftsmanship with modern manufacturing processes, Grestel aims to deliver innovative sandstone products that cater to a global clientele, ensuring that each piece meets the needs of contemporary dining while maintaining high quality and aesthetic appeal.

Espaço Casa

Acquisition in 2014
Espaço Casa is a privately held company that operates a chain of retail stores specializing in home utility products. The company focuses on providing a wide range of household items, allowing customers to fulfill their home needs conveniently and affordably in one location. Through its retail outlets, Espaço Casa aims to make essential household products accessible to a broad customer base.

Girandola - Valindo - Texteis, SA

Private Equity Round in 2014
Girandola - Valindo - Texteis, SA is a Manufacturer and retail of clothes for babies and children

Moldit

Private Equity Round in 2014
Moldit has a Design department in Portugal, two manufacturing facilities (Portugal and Brazil) and a network of partners across the world.

Skypro

Private Equity Round in 2014
Skypro is a global brand specializing in the development of uniforms and footwear designed specifically for aviation industry professionals. The company focuses on creating elegant and functional attire that enhances both performance and quality of life for airline employees. In addition to its uniform offerings, Skypro provides a fully integrated software system that manages the complete uniform needs of its clients, ensuring a streamlined and efficient process for uniform procurement and maintenance.

Vicoustic

Private Equity Round in 2014
Vicoustic is a designer, engineer, and manufacturer of acoustic products, focusing on custom-designed solutions for both professional and home audio environments. The company offers a diverse range of products, including professional audio systems and high-fidelity home cinema setups suitable for workspaces and public areas. These products are developed through extensive research and testing at Vicoustic's R&D Center, ensuring they meet high standards of design and sound quality. Additionally, Vicoustic provides training programs such as the Vicoustic Academy Room Acoustics course, which educates participants on the interaction of sound energy with materials in enclosed spaces, enhancing their understanding of acoustical response.

GlobalTest

Private Equity Round in 2014
Globaltest is a privately held company based in Barcelos, Portugal, specializing in vehicle inspection services. The company offers MOT test services aimed at promoting road safety and ensuring the security of drivers by assessing the condition of their vehicles. Globaltest is committed to helping drivers maintain safe vehicles while also responding to societal and environmental responsibilities. Through its services, the company plays a vital role in enhancing vehicle safety and supporting responsible driving practices.

The Ramiro group

Private Equity Round in 2014
The Ramiro group is a supplier to the footwear industry.

Francork

Private Equity Round in 2014
Frankcork provides its customers with the highest quality cork products plus additional added-value services to partner companies.

Tintex Textiles

Private Equity Round in 2014
Tintex Textiles is a manufacturer and supplier of eco-responsible knitted fabrics located in Vila Nova de Cerveira, Portugal. The company specializes in high-quality, natural-based jersey fabrics, primarily serving the contemporary fashion, sport, and lingerie markets. Tintex employs advanced sustainable dyeing and finishing processes, along with proprietary mercerization and coating techniques, to enhance the aesthetic appeal and functionality of its products. This commitment to innovation allows clients in the textile industry to access unique and refined fabrics while minimizing lead times. Through its focus on sustainability and quality, Tintex Textiles aims to meet the evolving needs of its customers.

Caixiave - Frames Industry SA

Private Equity Round in 2013
CAIXIAVE is currently leading the Iberian market for efficient windows and doors.

Six Senses Douro Valley

Private Equity Round in 2013
Six Senses Douro Valley operates a luxury hotel and spa in Lamego, Portugal, situated in the scenic Douro Valley. The establishment offers a variety of accommodations, including rooms, suites, and villas, catering to diverse guest needs. In addition to comfortable lodging, the hotel features a spa, swimming pools, and multiple restaurants. A notable highlight is the wine library, which complements the region's renowned viticulture. An organic garden further enhances the guest experience, providing fresh produce and a tranquil environment.

MEU SUPER

Private Equity Round in 2013
My Super is the brand of the new proximity stores in franchising format of the group Sonae MC, with dimensions between 100 and 500 m2.

nMusic

Private Equity Round in 2013
NMusic:registered: was launched in 2010 as part of Diligence Capital SGPS SA to do what was thought as impossible at the time: to find a creative solution for digital content distribution, able to please all consumers, partners and music agents.

Finieco

Private Equity Round in 2013
Finieco is a manufacturer based in Santo Tirso, Portugal, specializing in environmentally friendly paper bags for the commercial and food packaging industries. The company focuses on providing sustainable packaging solutions made from biodegradable raw materials sourced from sustainable forestry operations. Operating primarily in European markets, Finieco aims to meet the growing demand for eco-conscious packaging alternatives, aligning with trends towards sustainability in consumer goods.

Brandcare

Private Equity Round in 2013
Brandcare is a privately held retailer based in Miraflores, Portugal, specializing in a diverse range of beauty, home, and personal care products. The company focuses on the sale of hygiene and cleaning products, as well as skincare, makeup, and perfumery items. By offering a comprehensive selection of products, Brandcare aims to meet the various needs of consumers in the personal and household care markets.

NDrive

Private Equity Round in 2013
NDrive, founded in 2007 and headquartered in Porto, Portugal, specializes in cloud-based navigation software that leverages on-board map data to provide a seamless user experience. The company's solutions include detailed turn-by-turn navigation, real-time traffic updates, and integration with social networks, making them suitable for a variety of platforms including mobile devices and automobiles. NDrive utilizes mapping data from sources such as OpenStreetMap, Here, and TomTom, ensuring comprehensive global coverage. With a customer base of several million active users across more than 50 countries, NDrive has established itself as a key player in the navigation sector, having developed solutions for over 50 partners worldwide. Its recent application, Karta GPS, has received positive feedback across diverse markets. NDrive's software is installed on over 20 million devices, reflecting its strong position in high-growth markets and commitment to providing advanced location-based services.

Adla Aluminium SA

Private Equity Round in 2013
Adla Aluminium SA is a manufacturer and supplier of aluminum products based in Celorico de Basto, Portugal. The company specializes in the extrusion, commercialization, and treatment of aluminum profiles, offering a wide range of products including aluminum plates, bodywork, gates, blinds, and partitions. Adla Aluminium also engages in the assembly of profiles with thermal rupture and develops various solutions tailored for architectural and industrial applications. With years of experience in the aluminum industry, Adla Aluminium aims to provide high-quality products and services to meet the needs of its clients.

ROQ

Private Equity Round in 2013
ROQ is a manufacturer of textile printing and packaging machinery, specializing in automatic screen printing machines. Founded in 1983 and based in Vila Nova de Famalicão, Portugal, the company is recognized for its precision, reliability, and durability in its product offerings. ROQ designs and builds hybrid screen printing and digital textile stamping equipment tailored for garment manufacturers, particularly those serving mass-market brands. This enables clients to utilize both digital and analog direct-to-garment printing technologies, supporting a wide range of textile printing needs.

J&J Teixeira

Private Equity Round in 2013
J&J Teixeira S.A. provides custom made carpentry solutions for residential and commercial sectors. It offers doors, wardrobes, wardrobes, closets, wood flooring products, decks, kitchen products, furniture, washstands, wooden windows, paneled systems, and interior coverings. The company’s projects include houses, residential buildings, commercial spaces, and hotels. J&J Teixeira S.A. was founded in 1977 and is based in Vila Nova de Gaia, Portugal with locations in Angola, Mozambique, and Qatar.

Totalmedia Group

Private Equity Round in 2010
Totalmedia Group specialize in the delivery of promotional leaflets to the home through field teams that provide a door-to-door service.

PowerVia

Private Equity Round in 2010
PowerVia is a privately held company that provides logistics and transportation services.

Gascan

Acquisition in 2009
Gascan owns and supplies a number of gas networks in Portugal and provides gas to around 60,000 customers.

Solzaima

Venture Round in 2008
Solzaima provides a clean, renewable and more costeffective energy.

Probos Group

Acquisition in 2008
Probos Group produces, supplies, and exports protective, functional, and decorative thermoplastic edgings for the furniture industry. The company offers polymethyl metacrylate–acrylic, acrylonitrile butadiene styrene (ABS), polyvinyl chloride (PVC), polypropylene, and paintable PVC and ABS edgings.

Starfoods

Private Equity Round in 2008
Starfoods SA is a privately held company that owns and operates fast food restaurants in Portugal.

Crioestaminal

Private Equity Round in 2007
Crioestaminal is a privately held biotechnology company that engages in preservation of stem cells to treat future ailments.

Mop

Private Equity Round in 2007
Mop is a privately held company that operates as an advertising company.

Insyncro

Acquisition in 2007
Insyncro is a privately held company that provides services for the design, production, and implementation of stands.

Oficina do Livro

Acquisition in 2006
Oficina do Livro is a privately held publishing company that specializes in the publication and distribution of both fiction and non-fiction works, as well as children's and youth literature. The company focuses on providing a diverse range of non-educational books, catering to various audiences and interests. Through its publishing services, Oficina do Livro aims to contribute to the literary landscape by offering quality titles that engage readers of all ages.

Nutricafes

Private Equity Round in 2006
Nutricafes is a company that produces and markets coffee while also operating restaurants. It specializes in the production and distribution of coffee, owning two prominent brands, Nicola and Chave D'Ouro. These brands are exported to various countries, including Angola, Cape Verde, Brazil, the United States, and the United Kingdom. Nutricafes focuses on managing its coffee brands effectively to reach a global audience while maintaining a presence in the restaurant industry.

Industrias H. Pardo

Venture Round in 2006
Industrias H. Pardo manufactures and markets hospital and nursing, geriatric, and home beds and furniture. The company offers armchairs, bedside tables, cranes, cribs, accessories, mattresses, covers, and pillows. It serves customers in Spain and internationally.

Holmes Place

Private Equity Round in 2005
Holmes Place is a premium health, fitness, and wellness company based in Madrid, Spain, with over 35 years of experience in the industry. It operates health and fitness clubs that provide a variety of services, including gymnasiums, swimming pools, saunas, and steam rooms. Additionally, Holmes Place offers well-being programs and beauty clinics, catering to both men and women. The company focuses on enhancing overall health and wellness through its comprehensive fitness and beauty offerings.

Nuter

Funding Round in 2005
Nuter is one of the largest animal nutrition companies in the Iberian peninsula. It employs over 500 people and annually produces one million tonnes of animal feed.
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