Inmho and LDC Group Merge to Lead Iberian Property Management

✦ Meridian Analysis

Spanish property management company Inmho has completed its merger with LDC Group, the condominium administration leader in Portugal. The combined group operates under an integrated structure led by Antonio Baldellou as chief executive officer, while Pedro Pinheiro, formerly CEO of LDC Group, takes on the direction of Asset Management in Portugal within the executive team. Both entities preserve their respective brands, local offices, and teams while sharing technology, capabilities, and projects. The transaction forms an organization serving one million clients across approximately 24,000 managed owner communities, supported by a combined team of 2,500 professionals and a rental management portfolio spanning 200 properties in Portugal and 10,800 in Spain. The merged platform reported a joint turnover of €93.8 million at the close of 2025. In Spain, Inmho generated €63.8 million in recurring revenue after integrating approximately 50 companies during the year, including the September acquisition of Tranquiler. In Portugal, LDC recorded €30 million in recurring revenue and managed 8,500 condominiums following the completion of over 70 acquisitions. Financial terms of the merger, including valuation, multiples, funding arrangements, and any advisory mandates, were not disclosed in the sources.

The Meridian Weekly