By Brazil Stock Guide – Simpar (B3: SIMH3) secured a major capital reinforcement after BNDESPar agreed to invest up to roughly R$1.48 billion across Simpar, Vamos and Movida, part of a broader capital increase approved by the boards of the logistics and mobility group’s listed companies.
The transaction involves three simultaneous private capital increases. Simpar plans to raise between R$1.4 billion and R$2.0 billion, while truck and equipment lessor Vamos (B3: VAMO3) aims to raise between R$400 million and R$600 million, and car rental company Movida (B3: MOVI3) will seek between R$500 million and R$750 million. The new shares will be issued at R$11.24 for Simpar, R$3.85 for Vamos and R$11.72 for Movida.
State capital returns
BNDESPar, the investment arm of Brazil’s development bank, will play a central role in the operation. It committed to invest between R$600 million and R$680 million in Simpar, between R$200 million and R$300 million in Vamos, and between R$250 million and R$375 million in Movida, depending on final subscription levels.
The group’s controlling shareholder, JSP Holding, also pledged to invest up to R$300 million in Simpar, while institutional investors committed R$500 million in the holding company. Simpar itself will inject additional capital into its subsidiaries Vamos and Movida.
The commitments ensure the minimum subscription required for Simpar’s capital increase, reducing execution risk and providing immediate visibility for investors.
Strategic financing
According to the companies, the transaction aims to strengthen the group’s balance sheet, reduce cost of capital and improve share liquidity, while supporting long-term expansion in logistics, mobility and infrastructure services.
The deal also deepens BNDESPar’s strategic relationship with the group. Under the agreement, the state investor may build stakes of up to 10% in Simpar, Vamos and Movida, while maintaining a minority position without control.
Governance and optional stake in JSL
As part of the transaction, BNDESPar will gain governance rights typical of a strategic minority investor, including the ability to appoint one board member and representatives to audit and finance committees in the companies once the participation thresholds are reached.
Simpar also granted BNDESPar an option to purchase up to 5% of JSL (B3: JSLG3) at a price capped at R$7.89 per share or 95% of the market price, whichever is lower.
The operation still depends on regulatory approvals from Brazil’s antitrust authority CADE and the Central Bank before completion.
Results
Simpar reported record adjusted EBITDA of R$3.1 billion, up 14% year-on-year, with gross revenue excluding construction reaching R$12.4 billion (+5%) and ROIC improving to 13.9%. The company posted a net loss of R$119 million, compared with a profit of R$160 million a year earlier. The BNDESPar capital injection is expected to strengthen Simpar’s balance sheet, support deleveraging and lower funding costs, reinforcing the group’s capacity to sustain its investment cycle.
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