Scale Capital Acquires Ferrovial‘s Veltis Latam in Chilean Mining Sector Deal
Table of Contents
- Scale Capital Acquires Ferrovial’s Veltis Latam in Chilean Mining Sector Deal
- Veltis Latam Transitions to Scale Capital Ownership
- What is Veltis Latam?
- Scale Capital’s Expansion into Mining Services
- Ferrovial’s Strategic Shift
- Key Takeaways: Veltis Latam Acquisition
- Evergreen Insights: The Chilean Mining Sector and Foreign Investment
- Frequently Asked Questions About the Veltis Latam Acquisition
Santiago, Chile – In a strategic move finalized on July 1, 2025, Scale Capital has acquired Veltis Latam, the Chilean subsidiary of global infrastructure giant Ferrovial. The deal marks a significant shift in ownership for Veltis Latam, a key player in providing services to Chile’s robust mining industry.
Veltis Latam Transitions to Scale Capital Ownership
The transition, initially announced in December 2023 when Ferrovial indicated the rebranding of its Chilean service area from Ferrovial servicios Chile to Veltis Latam, has now culminated in a complete transfer of ownership to Scale Capital. While neither party has officially commented on the specifics of the transaction,sources confirm that all pending approvals were secured this month.
Did You Know? Ferrovial, founded in 1952, has a long history in infrastructure development, including airports, roads, and construction projects across five continents [[1]].
What is Veltis Latam?
Veltis Latam employs over 4,200 individuals in Chile and provides critical services to major mining operations, including projects at Escondida, Los Pelambres, and Radomiro Tomic. The company defines itself as a provider of innovative solutions and comprehensive services, specializing in complex project management within the mining and broader industrial sectors.
Veltis Latam operates through three distinct companies:
- Berliam: Focuses on operation and maintenance services for industrial clients.
- Steel: Specializes in infrastructure projects, small-scale construction within the mining sector, and machinery operation.
- Whale: Dedicated to fostering innovation in environmental solutions and promoting sustainability in mining operations.
Recent projects include deploying a team of over 200 workers to replace sections of a mineral stacking bridge at Codelco’s Radomiro Tomic Division and completing plant maintenance at Antofagasta Minerals’ Los Pelambres site with over 300 workers.
Scale Capital’s Expansion into Mining Services
Scale Capital, managing over US $200 million in assets across the US, Spain, and Latin America, is expanding its investment portfolio beyond telecommunications and technology with this acquisition. key partners at Scale Capital include Oliver Flögel, former general manager of Microsoft and Telefónica in Chile, Jacopo Bracco, and Pablo Tret.
Pro Tip: Diversifying an investment portfolio across different sectors, like Scale Capital is doing, can help mitigate risk and capitalize on new growth opportunities.
Scale Capital’s existing portfolio includes companies like mifibra (Peruvian fiber optic operator), Simple (Directv’s successor in Venezuela), AWNA (digital conversion consultant), and Mediaream (streaming service firm).
Ferrovial’s Strategic Shift
Ferrovial, a Spanish-origin company now headquartered in the Netherlands, is a global infrastructure operator listed on the Nasdaq, Euronext Amsterdam, and Ibex 35 stock exchanges. In Chile, Ferrovial has been involved in significant projects, including the construction of lines 3 and 6 of the Santiago Metro.
Ferrovial has operated in Chile since 1995, participating in highway, service, construction and airport projects. Their presence in the mining sector was strengthened by the acquisition of Steel in 2013.
Key Takeaways: Veltis Latam Acquisition
| Aspect | Details |
|---|---|
| Acquired Company | Veltis Latam (formerly Ferrovial Servicios chile) |
| Acquiring Company | Scale Capital |
| Industry | Mining Services |
| Employees | Over 4,200 in Chile |
| Scale Capital AUM | Over US $200 million |
What impact will this acquisition have on the Chilean mining industry? How will Scale Capital leverage Veltis Latam’s expertise to further innovate in mining services?
Evergreen Insights: The Chilean Mining Sector and Foreign Investment
Chile’s mining sector is a cornerstone of its economy, contributing significantly to its GDP and export revenue. The country is the world’s largest producer of copper, holding approximately 23% of the world’s copper reserves Chile Mining Equipment. foreign investment plays a crucial role in sustaining and expanding this sector, driving innovation and technological advancements.
Acquisitions like Scale Capital’s purchase of Veltis Latam reflect ongoing confidence in the long-term prospects of Chilean mining. These investments frequently enough bring new expertise, technologies, and management approaches that can enhance efficiency, sustainability, and overall competitiveness within the industry.
Frequently Asked Questions About the Veltis Latam Acquisition
- Why did Ferrovial sell its Chilean subsidiary Veltis Latam?
While the specific reasons for the sale have not been publicly disclosed by either Ferrovial or Scale Capital, it represents a strategic shift for both companies. Ferrovial,a global infrastructure operator [[1]], may be focusing on other core areas, while Scale Capital is expanding its investment portfolio into the mining services sector.
- what services does Veltis Latam provide in the mining industry?
Veltis Latam offers a wide range of critical and comprehensive services to the mining industry, including operation and maintenance, infrastructure development, and environmental solutions.They operate through three companies: Berliam (operation and maintenance), Steel (infrastructure and construction), and Whale (environmental innovation).
- Who is Scale Capital, the new owner of Veltis Latam?
Scale Capital is a fund manager with over $200 million in assets under management across the US, Spain, and Latin America. Their partners include Oliver Flögel, former general manager of Microsoft and Telefónica in Chile, along with Jacopo Bracco and Pablo Tret.
- How many employees does Veltis Latam have in Chile?
Veltis latam employs over 4,200 workers in Chile, according to their LinkedIn profile. These employees are involved in various projects across major mining deposits in the country.
- Where are Veltis Latam’s offices located in Chile?
Veltis Latam has offices in several key locations in Chile,including Santiago (Providencia),Calama (Puerto Seco),Los Andes (Valparaíso region),Salamanca (Coquimbo),and Rancagua.
- What is Ferrovial’s history in Chile?
Ferrovial has been operating in Chile since 1995, with involvement in highways, services, construction, and airports. They were recently responsible for the construction of lines 3 and 6 of the Santiago Metro. [[3]]
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