Lisbon private-equity house founded by Miguel Lucas. In October 2025 it acquired 963,359 shares — 5.22% of the capital — in Helsinki-listed Relais Group Oyj, the Finnish commercial-vehicle parts group, a stake then worth about €15.85 million.
Oxy Capital is a Portuguese private-equity firm founded by Miguel Lucas. nif.pt lists Oxy Capital, S.A. (NIF 510354785) and the fund-management company Oxy Capital – SGOIC, S.A. (NIF 510064760), both in Lisbon (1070-102), together with the Oxy Capital venture-capital funds it manages.
Its Nordic position is a listed-equity stake in Finland. According to Jornal de Negócios (27 October 2025), Oxy Capital acquired 963,359 shares of Relais Group Oyj, equal to 5.22% of the capital and worth about €15.85 million at the time, in a holding announced by Relais. Relais chief executive Arni Ekholm welcomed Oxy Capital “as a long-term professional investor”; Oxy partner Pedro Sousa said the firm had spent almost a year analysing the company and believed Relais could keep growing organically and through acquisitions.
Relais imports and sells parts for light and heavy commercial vehicles. Jornal de Negócios reported 2024 sales of €322.6 million (up 13.5%) and about 1,700 employees in eight countries.
Most capital in the corridor flows from the Nordics into Portugal. Oxy Capital’s Relais stake runs the other way: a Portuguese private-equity investor taking a disclosed holding in a Nordic listed company.
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