Lorinvest funds currently invest in two major business development niches: (1) shipping and logistics; and (2) biomass. The company also operates in the technology market to build today the companies of the future.

Actively managing its invested companies, Lorinvest is directly involved in creating the corporate strategy of each business. While disseminating the culture and values of Lorinvest at every level of the companies, it is also focused on building and adding new talents. Ethical attitudes, management excellence, focus on results and returns in line with the capital invested are transformed into improved operations and performance of the companies, minimizing risks and generating value for investors.



Norflor develops and manages forest assets. Founded in 2006, the company inherited know how from its precursor Aracruz to develop eucalyptus plantations. After part of the assets were sold in 2013 to a forest fund, it currently concentrates its operations in three municipalities in the North of Minas Gerais state, in one of the most deprived regions of Brazil.

Starting from the vision of being a reference in generating economic, social and environmental values in the forest-based industry with a focus on renewable energy in Brazil, Norflor has 34,000 hectares of land located in Grão Mogol, Josenópolis and Padre Carvalho. Eucalyptus plantations occupy 17,000 hectares of the total area; 15,000 hectares are maintained as permanent preservation areas, legal reserves and native forest; and the remaining 2,000 hectares are used for logistic operations and new plantations.

The eucalyptus plantations are located in flat areas at high altitudes of around 1,000 meters, which allows maximizing the forests’ productivity, while minimizing operating costs. The genetic material of cloned origin is selected to suit the edaphoclimatic conditions, providing healthy, uniform forests that are ideal to optimize harvesting. Various genetic resources are planted to minimize the risk of pests and diseases and serve multiple markets (energy and pulp).

To stand-out in an extremely competitive market, Norflor relies on experienced managers who fully master the business and regional markets where it operates. The company’s management aims at ensuring that its assets are perpetuated through responsible management, optimized land use, maximizing investor returns and respecting the principles of sustainable development.

In a long-term partnership, Lorinvest actively participates in Norflor’s strategic decisions and implementation of modern management systems, with technological platforms that help to monitor operations, increase resource efficiency, control and reduce the costs of operations. A new governance and management model was also introduced, including the creation of a risk management committee, code of conduct, reporting channel, plan of targets and variable remuneration for executives and assistants, as well as a productivity program for the field teams.

In the social area, Norflor carries-out several projects that positively impact the communities near its activities. In addition to creating agroforestry systems and community gardens for hundreds of families, environmental education programs and workshops at public institutions and schools, and a series of cultural events have been developed.

Norflor, certification code FSC® – C136614, declares its commitment to the principles and criteria of the Forest Stewardship Council® (FSC®).


Companhia de Navegação Norsul

Norsul was created in 1963 with the mission of being the best and most desirable option for waterway logistics in South America, offering the client reliability and peace of mind, with efficiency and sustainability.

With a strong presence along Brazil’s coast and support bases in the states of Rio de Janeiro, Espírito Santo, Santa Catarina and Maranhão, the company has held its position as the largest private carrier of dry bulk, neo-bulk, general cargo and supplies for projects in Brazil since 1997, besides ranking in first place in quantity of vessels and fleet size. Norsul carries cargo for major industrial groups through its industrial cabotage operations.

The company’s fleet has a capacity to carry 290,000 deadweight tons, distributed in 23 Brazilian flag vessels. Adding its subsidiaries’ foreign-flag vessels, Norsul controls around 30 vessels with a total capacity of over 500,000 gross tons. In 2014, the company began to operate regularly as a carrier of liquid/chemical bulk in coastal trade and in the Mercosur, thus completing its portfolio in the long run.



Acting as a major carrier of raw material – such as steel products, iron ore, bauxite, log wood and pulp – its clients include important Brazilian industrial groups and global companies. The diversity of vessels allows greater flexibility to face the oscillations in the shipping market and represents a significant competitive advantage for the company.

Norsul’s values are pursued with determination and commitment by its entire team, whose conduct is guided by initiative, integrity, responsibility and transparency. As a result of this dedication, Norsul develops its work with excellence, discipline and efficiency, targeting maximum quality and safety while avoiding accidents or conduct deviations. This is the path that the company follows towards longevity, with sustainability and total respect towards the people and environments where it develops its activities.

Norsul brings in its DNA the drive to value human beings and dedicates special attention to people. This is how the company achieved zero accident records, something unheard of in Brazil. The company is formed by a cohesive group of professionals, ensuring unity and contact between the maritime and land teams. As its activities are strongly tied to Brazil’s economy, the company’s challenge is to continue operating with sustainability and to be a special company for its clients, suppliers, shareholders and above all its employees.

Norsul’s sustainable attitude begins by valuing people, followed by clean operations, protecting the environment and closes the cycle producing financial returns that meet its shareholders expectations.

Target Bank

Target Bank

Created in 2011, Target specializes in electronic payment and carrier management technology, focused on freight transportation and the logistics market. The company was approved by Brazil’s land transport agency – ANTT for freight payment operations and provides the mandatory Vale Pedágio toll.

Target’s mission is to deliver innovative and quality solutions to the market, impacting its clients with the vision and feeling of a company that masters technology and provides solutions that involve convenience, practicality, credibility, savings and safety. In 2016, Lorinvest assumed control of the company, providing financial, institutional and strategic support and incorporating its long-term vision. Highly qualified professionals develop innovative products and guarantee they reach the market and are consolidated in a consistent and sustainable way.

The company adopted the values of commitment and responsibility, competence and innovation in a partnership of respect towards clients and employees focused on results. For the future, Target intends to be the largest payment means and management company related to transportation in Brazil.

With operations in the road cargo transportation market, its strategic alliances offer differentiated solutions that are committed to sustainability. Target has built a modern, robust and secure information system fully adaptable to the different business processes of its clients, creating a card that combines freight, fuel, toll and expense facilities, having Bradesco Cartões and Visa Cargo as its main partners. The Bradesco Target transportation card optimizes cargo operations in its different stages, integrating all the information in a single platform, reducing operating costs while increasing the safety of its controls.

Target Bank

As a result of a partnership established in April 2016 between Target and Bradesco, the Bradesco-Target Transportation Card combines the most advanced technology in the payments market with the financial institution’s national presence and leadership as a card administrator. Compatible with any Transport Management System (TMS) the card allows scheduling and controlling cargo operations, including definition of the best route, toll calculation through the Maplink/Google platform, issuing the toll voucher (Vale Pedágio) purchase certificate and transport operation identity code – CIOT (Código Identificador de Operação de Transporte), cargo tracking, as well as loading credits and checking the balance at a distance. The system provides customized service and support 24-hours a day that guarantee safety, time reduction, eliminating errors and reducing operating costs for shippers or carriers.

Today, Target has around 1,200 clients and reached the mark of R$ 1 billion worth of shipments a year, with operations throughout Brazil and partnerships to meet the light-fleet market demand. The company’s solutions allow integrating the different modes of the logistics chain, such as road and maritime transportation.

Pursuing best market practices, the company joined the corporate pact of the Na Mão Certa program, conceived to address sexual abuse of children and adolescents on federal highways. Target also supports the Continued Education Project, which provides information and guidance concerning this topic and other relevant citizenship issues to truck drivers, aware that the eradication of sexual abuse of children and adolescents on Brazilian highways depends on efforts by the entire society.