OHL announced on Tuesday the change of logo and corporate identity. The construction company founded by Juan Miguel Villar Mir in 1998 as a result of the merger of Obrascón, Huarte and Laín, adds an “A” to its name and will be renamed OHLA. In this way, the brothers Luis and Mauricio Amodio, the Mexican businessmen who have taken control of the company, erase the inheritance of the Villar Mir family, which had to give up the management and capital burdened by the weight of the debt. and bad corporate decisions.
In addition to playing with the pronunciation of the most universal greeting (hello), it is assumed that the “A” of the new name responds to the idea of ”advance” and “opening”, according to those responsible for corporate change, although no one is missing that the “A” is also the initial of the last name Amodio, the family of the two Mexican brothers who have taken over the Spanish construction company.
“OHLA, which shows the legacy of 110 years of history, is also synonymous with advancement, progress, openness and, above all, welcome to a new stage,” according to its president, Luis Amodio, in the presentation to the means of the new identity.
For the Mexican businessman, OHLA is a new brand for a global group prepared to return to the path of profit through the promotion of infrastructures that have a positive impact on society, with its commitment to the circular economy, the use of green energies and the choice of materials with a lower environmental footprint.
For his part, the CEO of OHLA, José Antonio Fernández Gallar, that the new company was born with a strengthened balance sheet, and has as strategic pillars: the talent of its more than 20,000 employees; innovation and digitization in its construction processes, giving rise to infrastructures with less environmental impact, the commitment of shareholders and a commitment to transparency, ethics, good governance and sustainability as driving forces for its growth.
OHLA, which has a portfolio of around 5,200 million euros, will continue to have its strategic markets in Europe, the US and Latin America, where it will develop projects through its lines of activity. In Construction, it aims to reach a contract of more than 3,000 million euros this year, mainly adding new awards in the United States, Latin America and Europe. The concessions division will be the lever for the future with a focus on the hospital and road sector in Latin America, and will analyze assets in Europe and the US In the Industrial area, it will strengthen the renewable energy business, and will incorporate storage and production technology of green hydrogen. In Services, its growth will be boosted with disruptive technological solutions and in Developments, it will focus on the construction and rehabilitation of residential assets.
Shareholder reinforcement of Amodio
OHLA has completed its refinancing, which has allowed it to reduce its leverage by more than 105 million euros and has boosted its equity by nearly 180 million euros.
The Amodio brothers have consolidated themselves as reference shareholders of the company with almost 26% of the capital (25.96%) after completing the recapitalization plan, as reported to the National Securities Market Commission (CNMV). After the 37 million injected in the capital increase to reinforce the company’s funds, in which they previously held 16%, the two Mexican brothers have respectively controlled 12.98% of OHL.
Once this debt refinancing plan was completed, the Villar Mir Group, through Inmobiliaria Espacio, has seen its stake reduced from 14.6% to 7.09% of the company, in which until the arrival of the Amodio family they were the reference shareholders. In addition, the Monegasque fund Tyrus Capital has emerged a 2.35% stake in OHL after its contribution of 5 million in the capital increase. On the other hand, the main holders of OHL’s bonds, the Sand Grove, Searchlight or Investment Opportunities SPC funds, hold around 20% of the company, in which they have a concerted share of 4.6%.