What are the most significant cases or transactions that your legal team has recently been involved in?

By 12th May 2022, Goldman Sachs Asset Management has executed, once cleared all regulatory matters like anti-trust and foreign direct investment regulations, an investment of €200 million in Constructel Visabeira, a subsidiary of Grupo Visabeira, in exchange for a minority equity stake in its share capital. The proceeds from the investment have been predominantly used to accelerate organic growth further and to undertake targeted M&A to support an accelerated Constructel Visabeira growth strategy.

Constructel Visabeira is a leading service provider in the telecommunications and energy sectors with more than 40 years of extensive experience. The company has differentiated know-how in designing, engineering, building, maintaining and operating network infrastructures. Constructel Visabeira’s integrated skills and wide range of ‘turnkey’ solutions make it a market leader and favoured partner to incumbent operators internationally; the company is present in Portugal, France, the United Kingdom, Ireland, Germany, Belgium, Denmark, Italy, Spain and the United States of America.

The ongoing migration to full fibre solutions, increasing focus by operators to roll out 5G networks, IoT solutions, data centres and the evolution of electricity and gas network infrastructures are all set to drive further demand for Constructel Visabeira’s services across key target markets. Grupo Visabeira has elected to partner with a well-known global investor, as is the case of Goldman Sachs while maintaining the majority shareholding and its independence to assist in this next growth phase.

Following such investment, and aligned with its primary goals, Constructel Visabeira has already formalised the acquisition of different companies in diverse jurisdictions and is currently looking for new targets in the telecommunications and energy sectors not only within the European market but also the United States where it already operates through a subsidiary within the energy sector.

Why are in-house lawyers well-placed to drive change within their organisations?

In my view, in-house lawyers are well-placed to drive change within their organisations for several different reasons; some of the most relevant ones include a Deep understanding of the business — as they work closely with other departments, in-house lawyers have a thorough knowledge of their company’s goals, challenges, and priorities. This understanding enables them to identify opportunities for change and improvement within the company. Legal expertise — in-house lawyers can combine their business insight view with their respective legal backgrounds and knowledge, which can help them quickly identify legal risks and opportunities for their organisation. They can help shape policies and strategies aligning with legal and business goals. Trusted advisors — in-house lawyers are often seen as trusted advisors to senior management, guiding on legal and business matters. This trust enables them to influence decisions and drive change within the organisation. Communication skills —to communicate complex legal concepts in simple and understandable terms. This skill is essential in driving change, as it enables them to articulate the proposed changes’ benefits and gain stakeholders’ buy-in. Ethical responsibilities — lawyers have ethical and professional responsibilities to promote justice and the public good. In-house lawyers are well-placed to drive change that aligns with these responsibilities, such as promoting diversity and inclusion or advocating for environmental sustainability.

In conclusion, in-house lawyers have unique legal expertise, business acumen, communication skills, and ethical responsibilities that make them well-suited to drive change within their organisations.

In general, what would you like to see change about the external law firms you use?

There are some areas where external law firms may still need to improve. First, there is communication: Clients expect law firms to be responsive and provide timely updates on the progress of legal matters. Law firms that communicate effectively and proactively with their clients are more likely to build strong relationships and win repeat business.

Clients are looking for law firms that offer value-added services, such as training, seminars, and other educational resources that help clients manage legal risk more effectively. Law firms that provide these services can demonstrate their expertise and build stronger client relationships.

Another area that could improve concerns cost transparency; clients increasingly seek greater transparency in law firms’ billing practices. Law firms that provide clear and detailed invoices, and work collaboratively with clients to manage costs, are likely to be more successful in retaining clients.

Clients are emphasising diversity and inclusion more and are looking for law firms committed to these values. Law firms that prioritise diversity and inclusion in their hiring and promotion practices and the representation of their clients are likely to be more attractive to clients. Additionally, we expect law firms to keep pace with technological advancements and use technology to improve efficiency, streamline processes, and deliver legal services more effectively. Law firms that invest in innovative technologies and integrate them into their legal services will likely differentiate themselves from their competitors.

To conclude, law firms prioritising effective communication, value-added services, cost transparency, diversity and inclusion, and technological innovation will likely be more successful in attracting and retaining clients.