Aquisição de PME's portuguesas por parte de grandes grupos internacionais

: caso de estudo Irbal

Abstract

This dissertation analyzes the impact of the acquisition of the Portuguese company Irbal, an SME in the construction sector, by the international group Altrad. The study focuses on changes in organizational structure, commercial management, and especially in management control systems. A qualitative methodology was adopted, based on a single case study supported by interviews with three members of the company’s leadership: the CEO, Financial Director, and Commercial Director. The literature review identifies common challenges in SME’s acquisitions, such as loss of autonomy, imposition of formal control systems, and cultural clashes. The Irbal case, however, stands out by deviating from these trends: Altrad adopted a decentralized integration model, preserving the acquired company’s identity and autonomy. The most significant changes occurred in the formalization of management control and reporting to the holding company. The findings show that the flexibility of the acquiring group and the maturity of the SME’s are key factors for a successful integration. This study contributes to the literature by demonstrating that it is possible to achieve synergies and organizational efficiency through an integration model that allows for high local autonomy, an approach still underexplored in the context of international acquisitions.

Date of Award	1 Jul 2025
Original language	Portuguese
Awarding Institution	Universidade Católica Portuguesa
Supervisor	Luís Marques (Supervisor)