M&A Newsletter — December 2021

Mexico's Maxcom Telecommunications, an integrated telecommunications-services provider serving residential, commercial and wholesale customers, was acquired by Transtelco for USD $28.60 million.

Controladora de Servicios Riso sold a 33.50% stake in Mexico's Dresen Química, a chemical-manufacturing company focused on food manufacturers and industrial customers, for USD $8.50 million.

Mexico's ABC Capital, a banking-services provider focused on serving individuals, entrepreneurs and businesses, was acquired by Ualá for an undisclosed amount.

Agua Prieta Tees, a contract screen-printing services provider based in Tijuana Mexico, was acquired by Ripple Junction Design for an undisclosed amount.

Mexico's Buenavista Renewables, a photovoltaic solar project based in Chihuahua Mexico, was acquired by MPC Energy Solutions (OSL: MPCES) for an undisclosed amount.

Diseño y Manufactura Digital, a distributor and provider of Solidworks solutions specialized in product design and development processes in the manufacturing sector, based in Querétaro, was acquired by Virtual Integrated Analytics Solutions for an undisclosed amount.

Mexico's Dixo, a podcast-network operator and producer based in Mexico City, was acquired by Exile (Publishing) for an undisclosed amount.

Genomma Lab Internacional (MEX: LABB) reached an agreement to form a joint venture with Oravax Medical (a subsidiary of Oramed Pharmaceuticals (Nasdaq: ORMP)), a developer of oral drug-delivery systems focused on transforming injectable treatments.

Tandem, a developer of a business platform designed to provide on-demand office cleaning and management services, was acquired by Homely for an undisclosed amount.

Mexico's TrueHome, a developer of an online real-estate platform designed to help clients identify and acquire undervalued assets, renovate them and sell them at a premium, was acquired by Loft for an undisclosed amount.

Chile's OK Market, a convenience-store company, was acquired by Mexico's Femsa (MEX: FEMSA) for USD $55.00 million through its subsidiary Oxxo. The transaction involves the purchase of all 126 OK Market locations, situated primarily in Chile's Metropolitan, Valparaíso and BioBío regions.

Turkey's Garaj Sepeti, a company engaged in the buying and selling of used cars across Europe and Asia, was acquired by Mexico's Kavak for USD $40.00 million.

The 94.9 MHz radio station in Cancún, a concession held by Promotora de Éxitos (a subsidiary of Grupo Radio Centro (MEX: RCENTRO)), was acquired by La Mera en la Playa for an undisclosed amount.

Tracfone Wireless (owned by América Móvil (MEX: AMX)), the largest prepaid mobile virtual network operator in the U.S., was acquired by U.S.-based Verizon Communications Inc. for an approximate amount of USD $3.68 billion.

Walmart de México y Centroamérica reached an agreement with Gazpro for the launch of new gas stations to be located in the parking lots of select units across the Bodega Aurrera, Mi Bodega Aurrera, Sam's Club, Walmart Express and Walmart Supercenter formats throughout the country.

Sports World, a company that owns a gym chain, reached an agreement to merge with Smart Fit. Sports World signed, in April, a non-binding letter of intent with Smartfit Escola de Ginástica e Dança, the largest gym operator in Latin America, headquartered in Brazil, for a potential merger between Sports World and Latamgym, Smart Fit's subsidiary in Mexico. The transaction would result in a company with more than 230 units in operation across various states of the Republic.

Incode raised a Series B funding round of USD $220.00 million, reaching a valuation of USD$1.25 B (one billion two hundred fifty million dollars). The funding round was led by General Atlantic and SoftBank Latin America Fund, with participation from J.P. Morgan Technology Ventures, Capital One Ventures and Coinbase Ventures.

Mexico's Flexio, a financial-software company operating a digital payments platform designed to remotely manage all information, invoices, collections and payments for clients and suppliers, closed an angel funding round of USD $3.00 million in the form of SAFE Notes from undisclosed investors.

Mexico's ViveFácil, a provider of a real-estate platform designed to help property owners manage tenants and properties at an accessible rate, closed a financing round of USD $125,000.00 in conjunction with On Deck as part of its inaugural cohort.

Mexico's Aplazo, a developer of a fintech platform that enables users to pay for their online purchases in installments at affiliated stores, closed a financing round of USD $27.00 million led by Oak HC/FT. Picus Capital and Kaszek also participated in this round.

Mexico's hi:hab, a developer of a residential rental platform designed to offer housing memberships, is seeking financing for an undisclosed amount.

Mexico's Kredi, an operator of a financial platform designed to enable customers to obtain loans easily for various purposes through premium credit facilities, based in Monterrey, closed a financing round of USD $2.50 million in the form of options or warrants with Emles Venture Partners and Liquid 2 Ventures.

Mexico's Academlo, an operator of an online coding school based in Querétaro, closed a financing round of USD $790,000.00 led by Xuntos Capital, Salsa Ventures and Antler (Singapore). Brian Requarth, Jose Calderon and other undisclosed investors also participated in this round.

Mexico's Cheaf, an operator of a food-technology platform aimed at eliminating food waste in stores and restaurants, closed a seed financing round of USD $3.00 million led by Global Founders Capital. Side Door Ventures also participated in this round.

Fonti, an operator of an online beverage-delivery platform based in Guadalajara Mexico, closed a financing round for an undisclosed amount with JALE.

Mexico's Kodda, an operator of an insurance company aimed at providing insurance products to its clients swiftly, based in Monterrey, closed a financing round for an undisclosed amount with MGV Capital Group.

RetryPay, a financial-software developer designed to boost payment conversion without increasing fraud for e-commerce stores based in Guadalajara, Mexico, closed a funding round for an undisclosed amount with Kamay Ventures.

Singapore's MoonPay, a developer of a payments platform and infrastructure built to facilitate and simplify cryptocurrency transactions, closed a funding round of USD $555.00 million led by Coatue Management and Tiger Global Management, reaching a pre-money valuation of USD $3.00 billion. Blossom Capital, Thrive Capital, Paradigm, Northeast Angels Investment Group and Artfo Holdings also participated in this round.

Colombia's Melonn, a developer of an end-to-end fulfillment platform designed to facilitate product delivery, closed a seed funding round of USD $4.50 million with SIMMA Capital, Pear and NFX. Wollef and other undisclosed individual investors also participated in this round.

Colombia's Cubbo, operator of an e-commerce fulfillment company that repurposes real-estate assets and converts them into spaces suited for new industries, is seeking funding from undisclosed investors. Previously, the company closed a seed funding round of USD $4.00 million led by SV Latam Capital. Bragiel Brothers, Ricardo Weder, Florian Hagenbuch, Federiko Malek, Nicolás González Luna and four additional investors also participated in this round.

UAE-based SuperBonds, an operator of a decentralized finance (DeFi) market designed to enable buyers to purchase at fixed duration and fixed interest-rate outcomes, closed a seed funding round of USD $3.00 million led by Commonwealth Asset Management. Polychain Capital, Genesis Block Capital and Lvna Capital also participated in this round.

Chile's Hackmetrix, a developer of a cybersecurity platform designed to detect and prevent web-page hacking vulnerabilities, closed a seed funding round of USD $1.50 million led by Cometa. Eight other investors also participated in this round.

U.S.-based Banyan Water, a developer of an Internet of Things-based platform designed to deploy comprehensive water management, closed a funding round for an undisclosed amount with Grupo Rotoplas.

Tribal, a developer of a fintech platform offering corporate cards, closed a funding round of USD $34.30 million led by QED Investors and Partners for Growth to strengthen its growth in Mexico and expand its operations to Colombia, Chile and Peru. BECO Capital, Global Ventures and Endeavor Catalyst also participated in this round.

Wortev, a venture-capital firm based in Mexico City, projected an investment of MXN $125.00 million in the development and structuring of five new Mexican startups, including Yunno (dedicated to the production of instant breakfasts), Terry Mansey (a designer of luxury experiences and travel in the Mexican Caribbean), MrNeux (dedicated to market research using AI) and Mithril (a technology-enabled health platform for comprehensive medical care).

iNBest, an information-technology services provider specialized in cloud computing based in Guadalajara, Mexico, was acquired by Servnet Telecomunicaciones via its financial sponsors ALZA Capital Partners, Anacapa Partners, Argo Management Group and The Operand Group through an LBO for an undisclosed amount.

Mercado Libre (NAS: MELI), through its lending unit MercadoCrédito, received USD $375.00 million in financing from Citi to expand its lending capacity to consumers, entrepreneurs and SMEs in Brazil and Mexico.

APx Acquisition (NAS: APXIU), a SPAC based in Mexico City, filed an application to list on the Nasdaq stock exchange under the ticker symbol APXIU.

Pretmex (BIVA: PRTMXCB) conducted a public offering of certificados bursátiles in the amount of MXN $150.00 million on the Bolsa Institucional de Valores (BIVA) through Punto Casa de Bolsa and Bursamétrica Casa de Bolsa.

Mexarrend (BIVA: MEXAMX) conducted a public offering of certificados bursátiles in the amount of MXN $90.00 million on the Bolsa Institucional de Valores (BIVA) through Vector Casa de Bolsa.

Compartamos Banco (BIVA: COMPART) conducted two public offerings of long-term certificados bursátiles for a total amount of MXN $2,500.00 million on the Bolsa Institucional de Valores (BIVA) through Vector Casa de Bolsa.

El Fideicomiso Hipotecario (BIVA: FHIPO14) conducted a public offering of short-term certificados bursátiles in the amount of MXN $100.00 million on the Bolsa Institucional de Valores (BIVA) through Casa de Bolsa Banorte, Actinver Casa de Bolsa, HSBC Casa de Bolsa and Casa de Bolsa BBVA México.

Engencap (BIVA: ENCAPCB) conducted two public offerings of certificados bursátiles for a total amount of MXN $2,500.00 million on the Bolsa Institucional de Valores (BIVA) through Citibanamex Casa de Bolsa, Casa de Bolsa Banorte, Casa de Bolsa Santander and Scotia Inverlat Casa de Bolsa.

Germany's Bosch, a technology company and auto-parts supplier, announced an investment of USD $83.00 million in its Aguascalientes plant to expand operations at the facility and strengthen its mobility business.

France's Alstom, a company specialized in train manufacturing, announced an investment of MXN $500.00 million in its Ciudad Sahagún, Hidalgo plant and in the design of the Tren Maya railcars. Last May, Alstom won the tender for rolling stock and railway systems for the Tren Maya, which encompasses the manufacturing of 42 railcars, with an investment of MXN $36,563.00 million.