M&A Newsletter — December 2022

Mexico's Voltrak (a subsidiary of Xignux), an engineering company dedicated to providing electrical engineering, construction and maintenance services based in Monterrey, Nuevo León, was acquired by Protexa for an undisclosed amount.

Mexico's E.R.N. (Evaluación de Riesgos Naturales y Antropogénicos), a seismic engineering services provider based in Mexico City, was acquired by U.K.-based Aon (NYS: AON) for an undisclosed amount.

Mexico's Another Company, operator of a communications agency dedicated to revolutionizing strategic communications based in Mexico City, was acquired by SEC Newgate (LON: SECN) for an undisclosed amount.

Mexico's NetPay, a payment and collections solutions provider based in Mexico City, reached a definitive agreement to be acquired by Fomento Económico Mexicano (MEX: FEMSAD) for an undisclosed amount.

Whiz Latam, a developer of digital-marketing software focused on business growth based in Mexico City, was acquired by 10Pearls for an undisclosed amount.

Solvay (BRU: SOLB) and Orbia Advance (MEX: ORBIA) reached an agreement to form a joint venture based in Georgia, United States, dedicated to providing critical materials for the battery market.

Chile's Intercal, a manufacturer of heat-exchange solutions for refrigeration, air conditioning and industrial applications based in Santiago, was acquired by Inversiones Magnani by Bohn for an undisclosed amount.

U.S.-based Premier Healthcare Professionals, a staffing-services provider for the healthcare industry based in Georgia, was acquired by Grupo Proeza (a subsidiary of Metalsa) for an undisclosed amount.

Bité Médica hospital was acquired by Mexico's Bupa, an insurance company operator based in Mexico City, for MXN $350.00 million.

The electric-mobility assets in Mexico owned by Viral Code and its electric-fleet business in Colombia were acquired by Mexico's VEMO, a cleantech company specializing in clean and electric mobility based in Mexico City, for an undisclosed amount.

Mexico's Emissary, a developer of an e-commerce platform designed for supply and goods management and the flow of items from one location to another, based in Monterrey, Nuevo León, joined Platanus Ventures as part of its fifth batch, generation 2022-2, and received funding of USD $500,000.00.

Mexico's Fudata, an operator of virtual restaurants designed to provide data-driven single-delivery services, based in Mexico City, graduated from Platanus Ventures as part of its fifth batch, generation 2022-2, and received funding of USD $500,000.00.

Mexico's Bree, an operator of a health-technology company designed to help healthcare professionals optimize their work, graduated from Platanus Ventures as part of its fifth batch, generation 2022-2, and received funding of USD $500,000.00.

Mexico's Leadsales, a developer of customer relationship management software based in Querétaro, closed a funding round for an undisclosed amount with Cross Ocean Ventures.

Mexico's Mendel, a developer of business expense-management software based in Mexico City, closed a funding round of USD $60.00 million in a combination of equity and debt with Victory Park Capital, Better Tomorrow Ventures and ALLVP. Infinity Ventures and Industry Ventures also participated in this round.

Mexico's YAVE, a developer of a real estate mortgage financing platform based in Mexico City, closed a funding round of USD $7.50 million led by Better Tomorrow Ventures and MetaProp NYC. Other undisclosed investors also participated in this round.

Mexico's Perfekto, a developer of an online retail platform designed to sell subscription-based boxes of fruits and vegetables, based in Mexico City, closed a funding round of USD $1.10 million with undisclosed investors.

Mexico's Metabase Q, a cybersecurity-services provider focused on reducing security risk through agile and innovative technologies based in Mexico City, closed an undisclosed seed funding round with GBM Ventures, SYN Ventures and other undisclosed investors.

Mexico's Quinio, a brand acquisition and development services provider for businesses based in Mexico City, closed a combined equity-and-debt funding round of USD $40.00 million led by Northgate Capital. AlleyCorp, DILA Capital, Western Technology Investment, Alchimia Investments and Cometa also participated in this round.

Mexico's Trully, developer of an AI-based platform for identity fraud and enforcement services based in Mexico City, closed a seed funding round of USD $4.10 million led by Costanoa Ventures. Eight individual investors also participated in this round.

Spain's Cobee, developer of financial software designed to hire personnel and manage employee compensation plans based in Madrid, closed a funding round of EUR €40.00 million led by Notion and Octopus Ventures. Speedinvest, Balderton Capital and DILA Capital also participated in this round.

Colombia's Muncher, developer of an end-to-end off-premises dining platform specializing in building and leasing ghost kitchens based in Bogotá, closed a funding round of USD $33.52 million led by Glisco Partners with participation from Disruptive.vc, Network VC, Igor Shoifot and undisclosed investors.

U.S.-based CoreZero, developer of a platform-as-a-service (PaaS) solution designed to measure the impact of waste prevention and minimization initiatives based in Miami, closed a funding round of USD $7.00 million led by Nazca. FEMSA Ventures, Bay View Capital and IDB Lab also participated in this round.

Keyo, developer of a biometric identification software that enables access unlocking and in-store payments through encrypted palm scanning based in Chicago, closed a seed funding round of USD $7.00 million led by Liil Ventures, Hard Yaka and Fairhill Ventures. Iluminar Ventures, SquareOne Capital, Marc Randolph and Rajeev Krishnan also participated in this round.

Colombia's Refurbi, operator of a consumer electronics restoration company based in Bogotá, closed a funding round of USD $4.40 million led by Impacta Fund, Pygma and Irie. Bridge Latam, Inca Ventures, Colectivo Jaguara and other undisclosed investors also participated in this round.

Netherlands-based Deftpower, a developer of a charging application designed to improve the efficiency of charging-infrastructure networks in Europe based in Arnhem, closed a funding round for an undisclosed amount with Proeza Ventures.

U.S.-based Electric Era, a battery manufacturer aimed at providing cost-effective energy management based in Seattle, closed a funding round for an undisclosed amount led by REMUS Capital, Proeza Ventures and Blackhorn Ventures. Liquid 2 Ventures and Karen Law also participated in this round.

Mexico's Baubap, a developer of a microcredit financial platform designed to offer personal loans based in Mexico City, closed a debt-financing round in the form of a credit facility of USD $20.00 million with Park Cities Asset Management.

Tierra Mojada Power Plant, an 875 MW combined-cycle gas turbine (CCGT) power plant based in Guadalajara, Jalisco, owned by Fisterra Energy, was acquired by Saavi Energía through its financial sponsor Global Infrastructure Partners, via an LBO for an undisclosed amount.

Mexico's Empaques Moldeados de América Tecnologías (Ematec), a molded-pulp packaging manufacturer based in Apodaca, Nuevo León, was acquired by Tekni-Plex through its financial sponsor Genstar Capital, via an LBO for an undisclosed amount.

Chile's Komax, a retailer of clothing, footwear and accessories for consumers in Chile and Peru based in Santiago, reached a definitive agreement to be acquired by Grupo Axo through its financial sponsors BlackRock Private Equity Partners and General Atlantic, via an LBO for an undisclosed amount.

ION Financiera (MEX: ION) carried out the issuance of short-term market securities (certificados bursátiles de corto plazo) for MXN $140.32 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Base.

Almacenadora Afirme (MEX: AFIRALM) carried out the issuance of short-term market securities (certificados bursátiles de corto plazo) for MXN $3,162.15 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Base.

Mercader Financial (MEX: MERCFIN) carried out the placement of short-term market securities (certificados bursátiles de corto plazo) for MXN $117.56 million on the Bolsa Mexicana de Valores (BMV) through Intercam Casa de Bolsa and Casa de Bolsa Banorte.

Fundación Dondé (MEX: DONDE) carried out the placement of short-term market securities (certificados bursátiles de corto plazo) for MXN $500.00 million on the Bolsa Mexicana de Valores (BMV) through Intercam Casa de Bolsa.

GM Financial de México (MEX: GMFIN) carried out the placement of short-term market securities (certificados bursátiles de corto plazo) for MXN $3,267.54 million on the Bolsa Mexicana de Valores (BMV) through Scotia Inverlat Casa de Bolsa and Casa de Bolsa Banorte.

Navistar Financial (MEX: NAVISTS) carried out the placement of short-term market securities (certificados bursátiles de corto plazo) for MXN $453.76 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México and Scotia Inverlat Casa de Bolsa.

Paccar Financial México (MEX: PCARFM) carried out the placement of short-term market securities (certificados bursátiles de corto plazo) for MXN $1,461.00 million on the Bolsa Mexicana de Valores (BMV) through Scotia Inverlat Casa de Bolsa.

Toyota Financial Services México (MEX: TOYOTA) carried out the placement of short-term market securities (certificados bursátiles de corto plazo) for MXN $879.15 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México and Scotia Inverlat Casa de Bolsa.

Cetelem (MEX: CETELEM) carried out the placement of short-term market securities (certificados bursátiles de corto plazo) for MXN $837.98 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México.

Volkswagen Leasing (MEX: VWLEASE) carried out the placement of market securities (certificados bursátiles) for MXN $3,074.73 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México.

Grupo Hyc (MEX: HYCSA) completed the placement of short-term market securities (certificados bursátiles de corto plazo) for MXN $100.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Banorte and Actinver Casa de Bolsa.

Arrendadora Afirme (MEX: AFIRMAR) completed the placement of short-term market securities (certificados bursátiles de corto plazo) for MXN $187.10 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) for MXN $541.50 million on the Bolsa Mexicana de Valores (BMV) through Actinver Casa de Bolsa.

Arrendadora Actinver (MEX: ARREACT) completed the placement of short-term market securities (certificados bursátiles de corto plazo) for MXN $596.53 million on the Bolsa Mexicana de Valores (BMV) through Actinver Casa de Bolsa.

Concesionaria de Autopistas del Sureste (MEX: CASCB) completed the placement of fiduciary market securities (certificados bursátiles fiduciarios) for MXN $5,200.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Santander.

Fomento Económico Mexicano (MEX: FEMSA) completed the placement of market securities (certificados bursátiles) for MXN $9,273.84 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México, Casa de Bolsa Santander and Scotia Inverlat Casa de Bolsa.

Factoraje Afirme (MEX: AFIRFAC) completed the placement of short-term market securities (certificados bursátiles de corto plazo) for MXN $41.90 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Base.

Factoring Corporativo (MEX: FACTOR) completed the placement of short-term market securities (certificados bursátiles de corto plazo) for MXN $179.00 million on the Bolsa Mexicana de Valores (BMV) through Vector Casa de Bolsa.

Ford Credit de México (MEX: FORD) completed the placement of short-term stock-market certificates for MXN $600.00 million on the Bolsa Mexicana de Valores (BMV) through Scotia Inverlat Casa de Bolsa and Casa de Bolsa Banorte.

Genomma Lab Internacional (MEX: LAB) completed the placement of short-term stock-market certificates for MXN $500.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México and Actinver Casa de Bolsa.

Compañía Minera Autlán (MEX: AUTLAN) completed the placement of stock-market certificates for MXN $100.00 million on the Bolsa Mexicana de Valores (BMV) through Actinver Casa de Bolsa and Intercam Casa de Bolsa.

Desarrollos Hidráulicos de Cancún (MEX: DHIC) completed the placement of long-term stock-market certificates for MXN $1,400.00 million on the Bolsa Mexicana de Valores (BMV) through Grupo Bursátil Mexicano, Casa de Bolsa and Casa de Bolsa BBVA México.

Comisión Federal de Electricidad (MEX: CFE) completed the placement of stock-market certificates for MXN $10,000.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Banorte, Casa de Bolsa BBVA México, Citibanamex Casa de Bolsa and Casa de Bolsa Santander.

Financiera Bepensa (MEX: FINBE) completed the placement of short-term stock-market certificates for MXN $460.40 million on the Bolsa Mexicana de Valores (BMV) through Actinver Casa de Bolsa, Casa de Bolsa Banorte and Intercam Casa de Bolsa.

América Móvil (MEX: AMX) completed the placement of stock-market certificates for MXN $24,002.37 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México, Casa de Bolsa Santander and Scotia Inverlat Casa de Bolsa.

Sofoplus (MEX: SFPLUS) completed the placement of short-term stock-market certificates for MXN $75.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Ve por Más.

Almacenadora Mercader (MEX: ALMER) completed the placement of short-term market securities (certificados bursátiles de corto plazo) for MXN $229.72 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Banorte, Actinver Casa de Bolsa and Intercam Casa de Bolsa.

Fondo Especial para Financiamientos Agropecuarios (MEX: FEFA) completed the placement of short-term fiduciary market securities (certificados bursátiles fiduciarios de corto plazo) for MXN $1,357.48 million on the Bolsa Institucional de Valores (BIVA) through Casa de Bolsa BBVA México and Scotia Inverlat Casa de Bolsa.

Banco Invex, trustee of Irrevocable Trust Agreement F/2061 (BIVA: FHIPO), completed the placement of short-term fiduciary market securities (certificados bursátiles fiduciarios de corto plazo) for MXN $200.00 million on the Bolsa Institucional de Valores (BIVA) through Casa de Bolsa Banorte.

Aeroenlaces Nacionales (BIVA: VIVAACB) completed the placement of fiduciary market securities (certificados bursátiles fiduciarios) for MXN $1,000.00 million on the Bolsa Institucional de Valores (BIVA) through HSBC Casa de Bolsa and Casa de Bolsa BBVA México.

Mexico's El Puerto de Liverpool (MEX: LIVEPOLC-1) announced its entry into the electric-vehicle retail market in partnership with BYD, a Chinese high-technology multinational with an automotive division, with an initial investment of MXN $100.00 million and the opening of four showrooms in Mexico City.

The Home Depot México, a home-improvement, hardware, do-it-yourself and construction-materials retailer, announced the opening of two new stores located in Jalisco and Nuevo León, with an investment of MXN $400.00 million and MXN $370.00 million, respectively.

Mexico's Grupo Financiero Afirme, a financial-services provider based in Monterrey, Nuevo León, announced the launch of its new digital bank Billú, with an investment in excess of MXN $300.00 million.

Mexico's TEO Foods, a food-products manufacturer based in Tijuana, Baja California, completed its initial public offering on the over-the-counter (OTC) exchange under the ticker TEOF.