M&A Newsletter — April 2021

Mexico's Grupo Gayosso, a provider of funeral and cemetery services, was acquired by Servicios Funerarios for USD $49.0 million. A portion of the proceeds will be used to repay a credit facility with the Ontario Teachers' Pension Plan.

Canada's Canadian Pacific Railway, a rail transportation company, will absorb the Mexican operations of Kansas City Southern as a result of the merger of both companies.

U.S.-based Eire Born Spirits, an alcoholic-beverage producer, was acquired by Cuervo (MEX: Cuervo) for an undisclosed amount.

Mexico's Alpek, a plastics manufacturer, formed a joint venture with U.K.-based Contour Global to develop products and applications for the medical and food sectors.

Mexico's Betterware Connect, a provider of telecommunications solutions and services — including voice and data, hotspots, and IoT developments for home integrations — was acquired by Betterware de México (NAS: BWMX) for USD $45.0 million.

Mexico's ECAPFIN, a provider of clean-energy solutions with the aim of capturing and processing carbon dioxide, was acquired by Itoco (PINX: ITMC) for an undisclosed amount.

Mexico's Turasu, a producer of blue agave plants used in tequila production, was acquired by Human Brands International, a subsidiary of Fresh Promise Foods (PINX: FPFI), for an undisclosed amount.

Three silver mining properties of Silver One Resources (TSX: SVE) were acquired by Plymouth Realty Capital (TSX: PH.H) for CAD $6.0 million. The mines in question are El Peñasco Quemado in Sonora, La Frazada in Guadalajara, and Plutón in Durango.

Two gold mining properties of Gunpoint Exploration (TSXV: GUN) were acquired by Inomin Mines (TSXV: MINE) for an undisclosed amount. The mines in question are La Gitana and Peña Blanca, both located in the state of Oaxaca.

Mining company Dowa Metaltech (TKS: 5714) reached a definitive agreement to sell 18.5% of the Los Gatos mine to Gatos Silver (NYS: GATO) for an undisclosed amount.

We would like to extend our warmest congratulations to our long-standing friend and client Ricardo Amper on closing an important funding round for his most recent venture: Incode. Incode is a company that Ricardo founded in Silicon Valley several years ago, dedicated to providing identity-validation services through proprietary AI and face-recognition technologies. Incode's funding round amounted to USD $29.98 million and was led by 3L Capital and DN Capital. Congratulations, Ricardo!

North American company Incode, an omnichannel digital identity platform that develops biometric products — including through AI-based facial recognition technologies — closed a funding round of USD $29.98 million led by 3L Capital and DN Capital. DILA Capital, Framework Ventures, FJ Labs, and Walter Ventures also participated in this round.

North American company EatSane, a company dedicated to the production of low-carbohydrate and artificial-sugar-free foods, closed a funding round for an undisclosed amount with Grupo Bimbo.

Mexico's Stori, a digital financial services platform offering credit products and credit cards to its customers, closed a funding round of USD $32.5 million led by Lightspeed Venture Partners. Source Code Capital, Visionplus Capital, and Bertelsmann Capital Ventures also participated in this round.

Wonder Brands, a company dedicated to providing services for building digital brands and generating growth opportunities for them, closed a financing round of USD $49.50 million led by ALLVP, Mountain Nazca, and Global Founders Capital.

Mexico's Minu, a company dedicated to payroll lending, closed a funding round of USD $14.0 million led by QED Investors, Next Billion Ventures, and Village Global. FinTech Collective, VEF, XYZ-Ventures, FJ Labs, Tom Gonser, and others also participated in this round.

Mexico's Higo, a vendor payment platform, closed a funding round of USD $3.3 million led by Homebrew. Susa Ventures, Haystack, J Ventures, and Dan Teran also participated in this round.

Mexico's Bocel fund acquired an equity stake in Grupo Alianza Estratégica Portuaria (GAEP), a logistics company operating at the port of Manzanillo.

Mexico's Baubap, a microcredit / personal-lending platform, closed a funding round of USD $3.0 million led by Alfin.

Mexico's Kredi, a financial platform that enables users to apply for credit from the financial institutions best suited to their credit profile, closed a funding round of USD $2.0 million led by Liquid 2 Ventures and Emles Venture Partners.

Mexico's Fondeadora, a digital banking-services platform, closed a funding round of USD $14.9 million led by Portag3 Ventures.

Mexico's iVoy, a company specializing in express delivery services, closed a funding round for an undisclosed amount with Northgate Capital.

Mexico's First Corp, a company developing technology to bring sustainable practices to agriculture, closed a funding round of USD$4.10 million with an undisclosed group of investors.

Mexico's Alxedo, a company developing a mobile platform to measure water quality in real time, closed a funding round of USD$700,000.00 with an undisclosed group of investors.

Mexico's CLARA, a credit platform, closed a funding round of USD $3.5 million led by General Catalyst. Adapt Ventures, Picus Capital and Canary Ventures also participated in the round.

Mexico's Atrato (software developer), Boitas (e-commerce), Mendel (financial technology), Terapify (medical services) and Workout OS (fitness platform) each received USD $125,000.00 in funding from Y Combinator.

Mexico's Atrato (software developer), Boitas (e-commerce), Mendel (financial technology), Terapify (medical services) and Workout OS (fitness platform) each received USD $125,000.00 in funding from Y Combinator.

Mexico's Atrato (software developer), Boitas (e-commerce), Mendel (financial technology), Terapify (medical services) and Workout OS (fitness platform) each received USD $125,000.00 in funding from Y Combinator.

Mexico's Atrato (software developer), Boitas (e-commerce), Mendel (financial technology), Terapify (medical services) and Workout OS (fitness platform) each received USD $125,000.00 in funding from Y Combinator.

Mexico's Atrato (software developer), Boitas (e-commerce), Mendel (financial technology), Terapify (medical services) and Workout OS (fitness platform) each received USD $125,000.00 in funding from Y Combinator.

The Whole Coffee Company, a chocolate manufacturer, closed a funding round of USD $17.91 million from undisclosed investors.

Asteya, an income-insurance company, closed a funding round of USD $10.0 million led by Atrum Coal, Capital Factory and Cap-Meridian Ventures.

Mexico's Kaan Asesores Independientes, an independent financial adviser, was acquired by Azimut Holding through an LBO for an undisclosed amount.

Mexico's Neolpharma, a pharmaceutical laboratory, received financing of USD$ 30.0 million from the IFC – International Finance Corporation.

Mexico's DD3 Acquisition III (NAS: DIIU), a SPAC, completed an IPO on Nasdaq for USD$ 150.0 million.

Upward America Venture, a single-family rental-home provider formed as a joint venture between Centerbridge Partners, Allianz Real Estate and Lennar, will be initially capitalized with USD $1.25 billion.

SPAC Acamar Partners Acquisition II (NAS: ACAMU) registered to list on Nasdaq under the symbol ACAMU. The amount to be raised is USD $350 million.

SPAC H.I.G. Acquisition Corp II (NAS: HIGBU) registered to list on Nasdaq under the symbol HIGBU. The amount to be raised is USD $300 million.

SPAC Lionheart IV (NAS: LHIVU) registered to list on Nasdaq under the symbol LHIVU. The amount to be raised is USD $2.75 million.

SPAC LDH Growth I (NAS: LDHAU) registered to list on Nasdaq under the symbol LDHAU. The amount to be raised is USD $50.00 million.

SPAC Lionheart III (NAS: LHRTU) registered to list on Nasdaq under the symbol LHRTU. The amount to be raised is USD $100.00 million.

SPAC Dila Capital Acquisition (NAS: DILAU) registered to list on Nasdaq under the symbol DILAU. The amount to be raised is USD $50.00 million.