M&A Newsletter — April 2023

Mexico's Indar, a hardware-products provider based in Jalisco, Mexico, was acquired by Switzerland's Holcim for an undisclosed amount.

Ana Paula Project, a gold mine based in Guerrero, Mexico, owned by Canada's Aurea Mining (a subsidiary of Argonaut Gold (TSE: AR)), was acquired by Heliostar Metals (TSX: HSTR) for USD $10.00 million.

A 50% interest in Terminal Química Puerto México, a new ethane import terminal project based in Veracruz owned by Braskem Idesa, was acquired by Advario for USD $400.00 million.

Mexico's Murano, a construction-services and real-estate development provider for the industrial, residential and corporate sectors based in Mexico City, reached a definitive agreement to acquire SPAC HCM Acquisition (NAS: HCMA) through a reverse merger for an undisclosed amount.

Bombardier (TSE: BBD.B) reached a definitive agreement to acquire the electrical wiring and interconnection systems business based in Querétaro, Mexico, owned by Latecoere (PAR: LAT) for an undisclosed amount.

The offshore labor supply operations in the Gulf of Mexico owned by U.K.-based John Wood Group (LON: WG) were acquired by U.S.-based Danos for USD $17.00 million.

Mexico's Leüffer Mining Group, operator of an iron mining company based in Guadalajara, Jalisco, was acquired by Reostar Energy (PINX: REOS) for an undisclosed amount.

Mexico's nPotencia, an advertising and marketing services provider for the technology industry based in Monterrey, Nuevo León, was acquired by Rocking M Media for an undisclosed amount.

Mexico's Lamudi (a subsidiary of Emerging Markets Property Group), a real-estate portal developer based in Mexico City, was acquired by Lifull Connect for an undisclosed amount.

Mexico's Altos Hornos de México (MEX: AHMSA) (a subsidiary of Grupo Acerero del Norte), a steel producer based in Monclova, Coahuila, reached a definitive agreement to be acquired by a group of foreign investors. The agreement contemplates an initial contribution of USD $200.00 million as working capital.

U.S.-based Carolina International Trucks, operator of a commercial truck dealership based in Columbia, South Carolina, was acquired by Mexico's Bepensa for an undisclosed amount.

Chile's Rankmi.com, operator of a technology platform for comprehensive people management in Latin America, announced its merger with Mexico's Osmos, as well as the closing of a financing round led by SoftBank Latin America Fund, for a combined amount of USD $48.00 million.

Zeus, a portfolio of 46 industrial properties located across 11 states in Mexico owned by Mexico's FINSA and U.S.-based Walton Street Capital, was acquired by Fibra Mty for USD $662.00 million.

Mexico's Drive, a provider of motor-vehicle-related services designed to deliver customized solutions within the mobility ecosystem based in Mexico City, closed an angel financing round for an undisclosed amount with ID345.

Mexico's Tcpip, operator of a software-development center dedicated to providing information technology (IT) consulting services to each of its clients, based in Santiago de Querétaro, closed an angel financing round for an undisclosed amount with ID345.

Mexico's Refer, developer of a referral-incentive application designed to recommend companies and earn money, closed an angel financing round for an undisclosed amount with ID345.

Mexico's Meddi, a developer of a health platform designed to provide affordable medical-care services based in Zapopan, Jalisco, closed an angel financing round of USD $500,000.00 with Antonio Rallo, Paul Walborsky and Seth Potter.

Mexico's UCIRI, an operator of an agricultural community designed to eliminate the need for intermediaries in regional and national coffee markets based in Oaxaca, closed a financing round of USD $250,000.00 with Conservation International Ventures.

Mexico's Wave Media, an operator of a content-production company for over-the-top (OTT) platforms based in Monterrey, Nuevo León, closed a seed financing round for an undisclosed amount with Life is too short Capital.

Mexico's Pacto, a developer of a digital-commerce platform designed to order and pay at restaurants based in Mexico City, closed a seed financing round of USD $4.00 million led by DILA Capital. FEMSA Ventures and six other investors also participated in this round.

Mexico's Fertilidad Integral, a developer of a fertility-clinic platform designed to provide specialized, comprehensive and personalized treatments based in Mexico City, closed a seed financing round of MXN $3.50 million with DILA Capital, Interplay, Supernode Ventures and Four Acres Capital.

Mexico's Cometa, a developer of a financial-payments platform designed for the education sector based in Mexico City, closed a seed financing round of USD $5.00 million led by Latitude, Investo VC and Reach Capital. Homebrew, 500 Global and four other investors also participated in this round.

Mexico's Granatum Bioworks, a developer of biotechnology products for personal care based in Monterrey, Nuevo León, closed a seed financing round for an undisclosed amount with Life is too short Capital.

Mexico's Soyrumi, an operator of an online real-estate management platform designed to connect property owners and guests based in Monterrey, Nuevo León, closed a SAFE-note financing round for an undisclosed amount led by Grupo Multimedios. Angel Hub also participated in this round.

Mexico's Portèlo, operator of an online marketplace designed to offer second-hand luxury fashion products based in Mexico City, closed a seed funding round for an undisclosed amount with Life is too short Capital.

U.S.-based Gauge Automotive, operator of an online automotive marketplace designed to simplify the sale of used cars based in Salt Lake City, Utah, closed a seed funding round of USD $14.19 million led by Maniv Mobility. FJ Labs, Proeza Ventures, LAUNCH Fund and other undisclosed investors also participated in this round.

U.S.-based Paybook, developer of a financial and resource-management platform based in Austin, Texas, closed a seed funding round of USD $9.97 million led by Point72 Ventures. Avalancha Ventures, Mantis VC, FJ Labs, Ausum Ventures and JAM Fund, among others, also participated in this round.

U.S.-based Zenki, developer of a cryptocurrency payment platform designed to protect buyers' e-commerce transactions based in Austin, Texas, closed a funding round of USD $8.48 million led by Holding Monex, G2 Momentum Capital and Nazca. Cracks Fund, Brainstorm Ventures, Angel Ventures Mexico and ID345 also participated in this round.

Chile's Toku, developer of an online financial platform designed to enable companies to automate recurring-revenue collections and streamline the payment process based in Santiago, closed a seed funding round of USD $7.00 million led by F-Prime Capital. FundersClub, Clocktower Technology Ventures, Honey Island Capital, 4UM and Wollef, among others, also participated in this round.

U.S.-based Mezcla, a producer of plant-based protein bars designed to provide a healthy snack alternative based in New York, closed a funding round for an undisclosed amount with Santatera Capital.

Mexico's Totem Computer, developer of a cloud-based platform designed to create, study or play from any computer based in San Pedro Garza García, Nuevo León, closed a seed funding round for an undisclosed amount with Life is too short Capital.

Mexico's Clara, developer of an expense-management platform for companies in Latin America based in Mexico City, closed a debt funding round in the form of a loan of USD $90.00 million with Accial Capital.

Mexico's Indicium Solutions, a provider of digital tax-document solutions designed for the execution of electronic-invoicing projects in Mexico based in Tlalnepantla de Baz, Estado de México, was acquired by Accel-KKR through an LBO for an undisclosed amount.

Mexico's Grupo Lucalza, a distributor of lubricants and gasoline to the automotive, commercial and industrial sectors based in San Pedro Garza García, Nuevo León, was acquired by RelaDyne, through its financial sponsor American Industrial Partners, via an LBO for an undisclosed amount.

Mexico's Pegaso Tecnología, a developer of an electronic-services platform for electronic invoicing and tax compliance based in Tlalnepantla de Baz, Estado de México, was acquired by Accel-KKR through an LBO for an undisclosed amount.

Mexico's Dooper, operator of a digital-business platform designed to help people generate an additional source of income based in Guadalajara, Jalisco, closed a convertible-debt financing round for an undisclosed amount with Redwood Ventures, Carabela and Nido Ventures.

Chile's Komax, operator of a chain of retail stores representing consumer brands based in Santiago, was acquired by Grupo Axo, through its financial sponsors BlackRock Private Equity Partners and General Atlantic, via an LBO for an undisclosed amount.

Mexico's Konfío, a fintech company operating a financial-solutions and payments platform for businesses, closed an expansion of its combined credit facilities with Goldman Sachs and Gramercy for MXN $500.00 million, bringing the total to MXN $4,100.00 million.

Almacenadora Afirme (MEX: AFIRALM) completed the placement of short-term market securities (certificados bursátiles de corto plazo) in the amount of MXN $3,697.07 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Base.

Start Banregio (MEX: START) completed the placement of short-term market securities (certificados bursátiles de corto plazo) in the amount of MXN $1,043.00 million on the Bolsa Mexicana de Valores (BMV) through Actinver Casa de Bolsa.

GM Financial de México (MEX: GMFIN) completed the placement of short-term market securities (certificados bursátiles de corto plazo) in the amount of MXN $3,158.52 million on the Bolsa Mexicana de Valores (BMV) through Scotia Inverlat Casa de Bolsa and Casa de Bolsa Banorte.

Toyota Financial Services México (MEX: TOYOTA) completed the placement of short-term market securities (certificados bursátiles) for MXN $812.25 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México and Scotia Inverlat Casa de Bolsa.

Cetelem (MEX: CETELEM) completed the placement of short-term market securities (certificados bursátiles) for MXN $1,262.39 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México.

Paccar Financial México (MEX: PCARFM) completed the placement of short-term market securities (certificados bursátiles) for MXN $1,438.00 million on the Bolsa Mexicana de Valores (BMV) through Scotia Inverlat Casa de Bolsa.

Navistar Financial (MEX: NAVISTS) completed the placement of short-term market securities (certificados bursátiles) for MXN $554.28 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México and Scotia Inverlat Casa de Bolsa.

Ford Credit de México (MEX: FORD) completed the placement of short-term market securities (certificados bursátiles) for MXN $1,446.00 million on the Bolsa Mexicana de Valores (BMV) through Scotia Inverlat Casa de Bolsa and Casa de Bolsa Banorte.

Arrendadora Actinver (MEX: ARREACT) completed the placement of short-term market securities (certificados bursátiles) for MXN $400.94 million on the Bolsa Mexicana de Valores (BMV) through Actinver Casa de Bolsa.

Arrendadora Afirme (MEX: AFIRMAR) completed the placement of short-term market securities (certificados bursátiles) for MXN $810.31 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Base.

Minera Frisco (MEX: MFRISCO) completed the placement of short-term market securities (certificados bursátiles) for MXN $3,000.00 million on the Bolsa Mexicana de Valores (BMV) through Inbursa Casa de Bolsa.

México Infrastructure Partners F2 (MEX: FSOCIAL) carried out the placement of energy and infrastructure real estate investment trust certificates (CBFEs) for MXN $6,088.15 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México.

ION Financiera (MEX: ION) carried out the placement of short-term securities certificates for MXN $58.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Base.

Volkswagen Leasing (MEX: VWLEASE) carried out the placement of securities certificates for MXN $2,282.53 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México and Scotia Inverlat Casa de Bolsa.

Grupo Aeroportuario del Centro Norte (MEX: OMA) carried out the placement of long-term securities certificates for MXN $3,200.00 million on the Bolsa Mexicana de Valores (BMV) through Citibanamex Casa de Bolsa, HSBC Casa de Bolsa and Casa de Bolsa Santander.

Fibra Uno Administración (MEX: FUNO) carried out the placement of fiduciary securities certificates for MXN $6,700.00 million on the Bolsa Mexicana de Valores (BMV) through Actinver Casa de Bolsa, Casa de Bolsa Banorte, Casa de Bolsa BBVA México and Casa de Bolsa Santander.

Grupo Carso (MEX: GCARSO) carried out the placement of short-term securities certificates for MXN $2,000.00 million on the Bolsa Mexicana de Valores (BMV) through Inbursa Casa de Bolsa.

Factoring Corporativo (MEX: FACTOR) carried out the placement of short-term securities certificates for MXN $91.00 million on the Bolsa Mexicana de Valores (BMV) through Vector Casa de Bolsa.

Financiera Bepensa (MEX: FINBE) carried out the placement of short-term securities certificates for MXN $574.80 million on the Bolsa Mexicana de Valores (BMV) through Actinver Casa de Bolsa, Casa de Bolsa Banorte and Intercam Casa de Bolsa.

Sofoplus (MEX: SFPLUS) completed the placement of short-term market securities (certificados bursátiles) in the amount of MXN $40.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Ve por Más.

Mercader Financial (MEX: MERCFIN) completed the placement of short-term market securities (certificados bursátiles) in the amount of MXN $100.00 million on the Bolsa Mexicana de Valores (BMV) through Intercam Casa de Bolsa and Casa de Bolsa Banorte.

Banco Latinoamericano de Comercio Exterior (MEX: BLADEX) completed the placement of short-term market securities (certificados bursátiles) in the amount of MXN $250.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México.

Factoraje Afirme (MEX: AFIRFAC) completed the placement of short-term market securities (certificados bursátiles) in the amount of MXN $26.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Base.

América Móvil (MEX: AMX) completed the placement of market securities (certificados bursátiles) in the amount of MXN $12,446.46 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Santander, HSBC Casa de Bolsa and Scotia Inverlat Casa de Bolsa.

Grupo Aeroportuario del Pacífico (MEX: GAP) completed the placement of long-term market securities (certificados bursátiles) in the amount of MXN $5,400.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México, Casa de Bolsa Santander and Scotia Inverlat Casa de Bolsa.

Banco Actinver (MEX: BACTIN) completed the placement of bank market securities (certificados bursátiles bancarios) in the amount of MXN $2,000.00 million on the Bolsa Mexicana de Valores (BMV) through Actinver Casa de Bolsa.

Portafolio de Negocios (MEX: PDN) completed the placement of short-term market securities (certificados bursátiles) in the amount of MXN $196.83 million on the Bolsa Mexicana de Valores (BMV) through CI Casa de Bolsa and Casa de Bolsa Banorte.

Banco Santander México (MEX: BSMX) completed the placement of bank securities certificates (certificados bursátiles bancarios) for MXN $6,400.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Santander.

Genomma Lab Internacional (MEX: LAB) completed the placement of long-term securities certificates (certificados bursátiles de largo plazo) for MXN $1,500.00 million on the Bolsa Mexicana de Valores (BMV) through broker-dealers Actinver, Banorte, BBVA México, Santander, Intercam and Scotia Inverlat.

Fondo Especial para Financiamientos Agropecuarios (BIVA: FEFA) completed the placement of short-term fiduciary securities certificates (certificados bursátiles fiduciarios de corto plazo) for MXN $643.78 million on the Bolsa Institucional de Valores (BIVA) through Casa de Bolsa BBVA México and Scotia Inverlat Casa de Bolsa.

Grupo Elektra (BIVA: ELEKTRA) completed the placement of long-term securities certificates (certificados bursátiles de largo plazo) for MXN $500.00 million on the Bolsa Institucional de Valores (BIVA) through Actinver Casa de Bolsa, Punto Casa de Bolsa and Intercam Casa de Bolsa.

Fibra Infraestructura y Energía México (BIVA: FMX) completed the placement of energy and infrastructure fiduciary securities certificates (CBFEs) for MXN $6,639.68 on the Bolsa Institucional de Valores (BIVA) through Casa de Bolsa Santander and Scotia Inverlat Casa de Bolsa.

Firma Car (BIVA: FMCARCB) completed the placement of fiduciary securities certificates (certificados bursátiles fiduciarios) for MXN $800.00 million on the Bolsa Institucional de Valores (BIVA) through Casa de Bolsa Finamex.

Walmart de México (MEX: WALMEX), a retail chain based in Mexico City, announced an investment of approximately MXN $27,100.00 million in Mexico and Central America for the remodeling and maintenance of existing stores, among other objectives.

Academia Global, a company specializing in educational technology focused on adaptive and personalized learning models for corporations, launched Universidad Index, a project that will be responsible for training approximately 3.20 million employees of affiliated companies in the manufacturing and export-maquiladora sector in Mexico over the medium term.

Mexico's Grupo Lamosa, a manufacturer of ceramic tiles, sanitary ware and ceramic adhesives, announced an investment of USD $260.00 million to grow its global operations, increase its production capacity by 10%, and consolidate acquisitions made over the past two years.

Mexico's Real Estate Investments, a developer of speculative and build-to-suit (BTS) industrial buildings, announced the expansion of its Industrial Gate Escobedo park with an investment of MXN $60.00 million, with the objective of addressing demand for industrial space driven by nearshoring.