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- Public sector transactions in Mexico
- Private sector transactions in Mexico
- Private Equity fund transactions
- Venture Capital fund transactions
- Asset Purchases
- Other International News
- Analysis of Mergers and Acquisitions in Mexico
- Analysis of Venture Capital Transactions in Mexico
- Subscription
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In February we highlighted the acquisition of Grupo Bimbo of the Uruguay-based company Pagnifique from Chilean fund Linzor Capital Partners, thus increasing its presence in the frozen bread segment.
During February 2024, there was a 35.3% increase in the number of transactions carried out, compared to February 2023, while there was a 23.4% decrease in deal volume.
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1.- Public sector transactions in Mexico |
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The Mexican government acquired the 49% it did not already control of ESSA - Exportadora de Sal, the world's largest salt producer, for USD $87.6 million from Japan-based Mitsubishi Corporation.
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The Mexican government acquired the Mitla-Tehuantepec Highway Concession from Ideal, a Mexican infrastructure developer.
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Rotoplas Servicios de Aguas, a Mexico-based company controlled by Rotoplas, acquired a water treatment plant designed to serve the hotel and industrial sector in Puebla.
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Grupo Bimbo, the world's largest bread manufacturer, acquired Pagnifique, a Uruguay-based frozen bread manufacturer, from Chile's Linzor Capital Partners.
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Alsea, a Mexico-based manager of food franchises and restaurants, acquired Food Service Project (Alsea Europe), the Mexican group's business in Europe, to become the sole partner.
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2.- Private sector transactions in Mexico |
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Tiendas 3B, a Mexico-based chain of low-price retail stores, raised USD $460 million with its initial public offering on the U.S. stock market.
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An undisclosed investor acquired 80% of Unlimited Vacation Club, an operator of clubs and resorts in Mexico, for USD $80 million from Hyatt, which will continue operating the business.
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GFT Technologies, a German-based company that designs and implements technology solutions for the financial sector, through GFT Technologies Spain, acquired Sophos Technology Solutions Chile, Sophos Technology Solutions Mexico, and Sophos Technology Solutions Peru following the acquisition of its Colombia-based parent company, Sophos Solutions, a provider of IT solutions and services for the financial sector, from U.S.-based Advent International.
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Kohler, a U.S.-based manufacturer of kitchen and bath products, acquired Germany's Klafs, including its Mexican subsidiary, which sells saunas and steam rooms, from Spain-based Egeria.
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LegaLario, a Mexican startup developer of a platform that ease the signing of legal documents digitally, acquired Ali Tech, a Mexican legaltech that offers legal solutions with AI.
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IntouchCX, a Canada-based CRM software developer, acquired Mexico's Beliveo, a nearshore contact center and business processing outsourcer (BPO).
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Bureau Veritas, a France-based company engaged in inspection, analysis, auditing and certification of products and services, acquired the Mexican company ANCE - Asociacion de Normalizacion y Certificacion, a provider of certification and standardization services for electrical and electronic products from ANCE Estandares.
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CuidaMiMascota, a Mexico-based full-service pet care platform, acquired the Argentina-based company Tu Mejor Amigo, operator of a pet care services platform in Mexico.
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T2O Media, a Spain-based company specialized in designing, managing, and optimizing cross-sector marketing strategies, acquired LeadGenios, a Mexico-based company provider of marketing and advertising services.
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SigmaQ, a Salvador-based manufacturer and distributor of paper, cardboard, plastic packaging, and displays, acquired Mexico's AGH Labels, provider of integrated label solutions, from ALTA Growth Capital.
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kSARIA Corporation, a U.S.-based manufacturer and installer of highly-specialized interconnectivity solutions, acquired Charles E. Gillman Company, including its Mexican subsidiary Charles E. Gillman Company Mexico, a manufacturer of cable assemblies for the military and aerospace industries.
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ENGIE, a French generator and distributor of electricity, natural gas, and renewable energy, acquired a 50% stake in Heolios EnTG, a Mexican company that manages and sustains renewable energy projects from Tokyo Gas.
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PrimeFlight Aviation Services, a U.S.-based company provider of aircraft, passenger, and security services, acquired Aero Charter de Mexico, a provider of ground services.
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Numaris, a holding of Mexican telematics and IoT solutions companies to accelerate the digital transformation in various industries, acquired S-Fleeta Mexico-based company operator of a platform for managing vehicle fleets.
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3.- Private Equity Fund Transactions |
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Valores Bocel, a Mexico-based private equity firm, acquired a minority stake in Grupo Solufi, a company engaged in the leasing of motor vehicles for SMEs and individuals in the subprime segment.
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Andez Capital, a Mexico-based private equity firm, acquired PayPaga Mexico, a Mexican provider of payment services.
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4.- Venture Capital Fund Transactions |
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Vemo, a Mexico-based electric mobility startup specialized in charging infrastructure, vehicles, and monitoring technology, raised USD $60 million from Orion Infrastructure Capital.
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Simetrik, a Colombia-based company developer and manager of software to organize and reconcile business transactions, closed a USD $55 million Series B round, led by Goldman Sachs Asset Management, with the participation of FinTech Collective, Cometa (Mexico), Falabella Ventures, Actyus, Moore Strategic Ventures, Mercado Libre Fund, Endeavor Catalyst, and the co-founders of Vtex Simetrik.
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YoFio, a Mexico-based credit platform for businesses and microenterprises, closed a USD $10 million seed investment round, led by Oikocredit, with the participation of 500 Global, Innogen Venture Capital, G2 Fintech Fund, Cauris and others.
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Pulsar, a U.S.-based company that offers real-time productivity monitoring and analysis services, closed a USD $8 million investment round led by Cometa (Mexico) in which Seaya Cathay Latam Fund (Mexico), Kayyak Ventures, and Arca also participated.
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Wynwood House Mexico, a digital lodging platform designed for the tourism industry, raised USD $7.5 million in a deal led by Innogen Capital Ventures and Fen Ventures.
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SmartBeemo, a U.S.-based e-commerce online solutions startup, raised USD $6 million in a post-seed or pre-Series A round led by Redwood Ventures (Mexico), New Ventures and Simma Capital, in addition to Impact Ventures PSM (Mexico), Multifamily EPC's RGMA Holdings, Angelhub (Mexico), and Aluna Partners.
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Techreo, a Mexican integrated financial services platform, closed a USD $3.4 million bridge seed round led by G2 Momentum Capital (Mexico) and Creation Investments.
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Atlas, a U.S.-based flexible benefits platform for companies with globally distributed employees, closed a USD $2.7 million seed round extension led by Hi Ventures (Mexico).
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Darwin AI, a Brazil-based developer of artificial intelligence platform to be used in the sales funnel, raised USD $2.5 million including a pre-seed and seed round led by Canary and joined by H20 Capital Innovation, Dalus Capital (Mexico), FJ Labs, and Latitude Capital.
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Coba, a U.S.-based startup that offers US dollar deposit accounts in the United States, raised USD $2.2 million in a seed round led by Alaya Capital and Switch VC, in which the founding family of Banco BASE and Grupo Topaz (Mexico) also participated.
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Fibra Mty, a Mexico-based real estate management company, acquired an industrial real estate portfolio that includes six Class A industrial buildings in the Aerotech industrial park in Queretaro, for USD $83.3 million, from American Industries, Impulsora Queretana de Inmuebles and Abitat Construction Solutions.
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Fibra Storage, a Mexican REIT that manages investments in real estate for the self-storage business, acquired two properties in Monterrey for USD $3.2 million.
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Be Grand, a Mexican real estate asset management company, acquired a rental housing project in the city of Guadalajara.
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6.- Other International News |
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Capital One, acquired Discover for more than USD $35 billion in a transaction that combines two of the largest credit card issuers in the United States.
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Diamondback Energy, an oil and gas producer, acquired Endeavor Energy Resources, one of the last private drilling giants, for USD $26 billion from Autry Stephens.
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Novo Holdings, a Danish pharmaceutical company, acquired U.S.-based Catalent, Inc., a global provider of drug delivery, development, manufacturing, biologics, genetics, and healthcare technologies, for USD $16.5 billion.
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Owens Corning, a U.S.-based building materials company, acquired Masonite International Corporation, a U.S. door manufacturer, for USD $3.9 billion.
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Novartis data42 AG, a Swiss pharmaceutical company, agreed to acquire German-based biotech company MorphoSys AG for USD $2.9 billion.
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Walmart agreed to purchase the television manufacturer Vizio for USD $2.3 billion.
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Banco Santander agreed to acquire a 33% stake in Seaya Ventures, the largest venture capital fund in Spain.
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7.- Analysis of Mergers and Acquisitions in Mexico |
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Volume and Value of Transactions 2022 - 2023 |
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During February 2024, 23 M&A transactions were registered in Mexico, a figure 35% higher than the 17 registered in the same month of the previous year. The amount disclosed went from USD $332 million to USD $254 million, a decrease of 23.5%.
Likewise, in terms of the accumulated volume of transactions in these two months, there have been 4 more transactions than a year ago, which represents an increase of 12.5%. Similarly, the accumulated amount increased by 15.5%, from USD $407 million to USD $471 million.
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Transactions in Mexico by Sector |
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During the second month of 2024, the most active sector in terms of mergers and acquisitions was the Consumer sector, with a total of 6 transactions, equivalent to 26% of the total number of operations reported.
The Real Estate and Construction sector stands out with 22% of the total number of transactions reported, followed by the Technology and Telecommunications sector, which accounted for 19% of the total.
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Transactions by Origin of Buyer and Seller |
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In February 2024, in terms of number of transactions, Mexican entities acquiring Mexican companies predominated, with 9 transactions, representing 39% of the total. In terms of the amount disclosed, transactions involving Mexican companies investing abroad stood out with a total of USD $88 million, 34% of the total amount disclosed.
In terms of accumulated volume, Mexican companies acquiring peers in our country also stand out with 14 transactions, 39% of the total. Regarding the amount disclosed, Mexican entities investing in the country also stand out with a total of USD $277 million, representing 59%.
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8.- Analysis of Venture Capital Transactions in Mexico |
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During February 2024, 10 Venture Capital transactions were registered in Mexico, 3 more than those observed a year earlier. As for the published number of investments in startups in the country, this amounted to USD $81 million compared to the USD $13 million reported in the same month of the previous year. This represents an increase of more than 5 times.
In terms of the volume of cumulative transactions, one more transaction has been reported with respect to those existing at this point in the previous year, increasing from 16 to 17. In terms of cumulative amount, there was an increase of 21.5%, from USD $67 million in 2023 to USD $81 million in 2024.
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The editor is not responsible for the damages caused by the use of the information included. The information included in this newsletter was gathered from public sources (América Economía, Bloomberg, El Economista, El Financiero, El Excelsior, El Universal, Sentido Comun, Reforma, El Norte, The Wall Street Journal, Mergermarket, Business Week, New York Times, Expansión y CNN / Expansion, DealWatch, LatinLawyer, among others) and direct sources of RIoN M&A and it is subject to the accuracy and truthfulness of them.
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