M&A Newsletter — January 2022

Canada's Bear Creek Mining (TSX: BCM) reached a definitive agreement to acquire the gold and silver mine located in Sonora, Mexico from Premier Gold Mines (a subsidiary of Equinox Gold (TSE: EQX)) for USD $125.00 million.

Mexico's Desin, a contract-manufacturing services provider focused on the development and manufacturing of devices, components and technological processes based in San Luis Potosí, Mexico, was acquired by CCL Industries (TSE: CCL.A) for an undisclosed amount.

Fuzetouch, a provider of graphic-interface control panels and assemblies designed to serve the medical consumer and electronics markets throughout the USMCA region based in San Luis Potosí, Mexico, was acquired by CCL Industries (TSE: CCL.A) for an undisclosed amount.

MultiLatin Advisors, a provider of background research and verification services for the financial, healthcare, manufacturing, transportation and logistics, IT and BPO sectors based in Mexico City, was acquired by First Advantage (NAS: FA) for an undisclosed amount.

Mexico's OCESA, a live-entertainment events provider based in Mexico City, was acquired by Live Nation Entertainment (NYS: LYV) for MXN $8.84 billion.

Mexico's Roomin, a property-rental and management services provider based in Santa Catarina, Brazil, was acquired by Mexico's Casai for an undisclosed amount. The acquisition will help Casai become the leading smart-lodging player in Brazil.

CVI Refrigerantes, a producer and distributor of Coca-Cola-brand beverages based in Santa Maria, Brazil, was acquired by Coca-Cola FEMSA (PINX: COCSF) (a subsidiary of Aguafria) for BRL R$632.50 million.

U.S.-based Rubicon, a sustainable-waste technology and recycling developer, is in talks to raise USD $111.00 million from Palantir Technologies, Rodina and New Zealand Superannuation Fund through a private placement. At the same time, the company reached a definitive agreement to acquire Founder SPAC through a reverse merger, so that the combined entity would list on the New York Stock Exchange under the ticker RBT.

Brazil's Remessa Online, a fintech company operating an international payments platform, was acquired by EBANX (a payments company operating in Mexico and 15 other Latin American countries) for USD $229.00 million.

Navent, a company operating a real-estate marketplace that operates in Mexico through Inmuebles 24, was acquired by Gabriel Braga (CEO of Brazil's QuintoAndar) for an undisclosed amount.

U.S.-based Rubicon, a sustainable waste and recycling technology developer, is in talks to receive USD $111.00 million from Palantir Technologies, Rodina and New Zealand Superannuation Fund through a private placement. Simultaneously, the company reached a definitive agreement to acquire Founder SPAC through a reverse merger, so that the combined entity will list on the New York Stock Exchange under the ticker RBT.

Mexico's Vía Verde, a company dedicated to the installation of vertical gardens based in Mexico City, closed a financing round of MXN $300.00 million led by Vector Partners.

Around, a provider of workspace solutions designed to help client teams be more productive, closed a financing round for an undisclosed amount with Honey Badger Capital.

Mexico's Clara, a company developing an expense-monitoring and -management platform built around a corporate credit card, closed a financing round of USD $70.00 million with Coatue Management, General Catalyst and DST Global, reaching a pre-money valuation of USD $930.00 million. Monashees, Avid Ventures, Global Founders Capital, Picus Capital and Iconiq Growth, among others, also participated in this round.

Mexico's Mendel, a company developing an expense-management software designed to help businesses save money and spend less, is seeking USD $70.00 million in financing from undisclosed investors.

Mexico's Merama, operator of a strategic-investment and brand-development company aimed at helping teams grow exponentially and leverage their technology, closed a financing round of USD $285.00 million led by Advent International and SoftBank Latin America Fund, reaching a pre-money valuation of USD $915.00 million. Valor Capital Group, Monashees, Balderton Capital, Maya Capital and Partech, among others, also participated in this round.

Mexico's Meru, a one-stop-shop marketplace operator designed to facilitate the Asian wholesale market, closed a funding round of USD $15.00 million led by Valor Capital Group and Emles Venture Partners. Nazca and other undisclosed investors also participated in this round.

Mexico's Nowports, a digital freight-forwarding platform developer designed to manage cargo transportation based in Monterrey, Mexico, closed a funding round of USD $60.00 million led by Tiger Global Management. Mouro Capital and six other investors also participated in this round.

Mexico's Solvento, a digital-platform developer designed to provide credit lines to truckers enabling them to collect invoices at the moment goods are delivered, closed a funding round of USD $4.50 million led by Dynamo Ventures. Zenda Capital and Wollef Ventures also participated in this round.

Mexico's Kueski, an online microlending platform developer designed to offer unsecured loans based in Guadalajara, Mexico, closed a funding round of USD $202.00 million, of which USD $102.00 million were provided by StepStone Group with the participation of eight other investors and USD $100.00 million in debt were provided by Victory Park Capital, Capri Ventures and other undisclosed investors.

Mexico's Stori, a digital financial payment services provider designed to offer users credit facilities through a credit card, closed a funding round of USD $2.90 million with undisclosed investors.

Mexico's Quinio, a brand acquisition and development services provider designed to help businesses grow and expand their brand value, closed a seed funding round of USD $20.00 million led by Cometa. GBM Ventures, Bridge Partners, AlleyCorp, DILA Capital and WTI, among other individual investors, also participated in this round.

U.S.-based Neology, a mobility-platform developer designed to accelerate the vision of a smart city and safer communities, received USD $38.00 million in funding from AINDA. As part of this transaction, the company also received USD $12.00 million from its subsidiary.

Colombia's Muncher, a kitchen-space provider specializing in building and leasing dark kitchens in shipping containers and operating its own delivery-only brands, closed a funding round of USD $30.00 million led by FEMSA Ventures, MGM Innova Capital and Copernion Capital Partners. Amador Holdings, TMT Investments and other undisclosed investors also participated in this round.

U.S.-based Tacombi, an omnichannel Mexican food-and-beverage restaurant operator based in New York, received USD $27.50 million in financing from Union Square Hospitality Group, Rodina and Capital Mazapil.

U.S.-based Nuvocargo, a cross-border freight services provider based in New York, closed a financing round of USD $20.50 million led by Tiger Global Management, reaching a pre-money valuation of USD $159.50 million. Flexport, Mango.vc, NFX, QED Investors and Federico Ranero also participated in this round.

U.S.-based Slang, a digital professional-development services provider designed to help users master the English required for professional careers and other purposes, based in Boston, closed a financing round of USD $14.00 million led by DILA Capital and Alive Ventures, reaching a pre-money valuation of USD $14.00 million. Salesforce Ventures, Roble Ventures, Impact Engine and Inter-American Development Bank also participated in this round.

Colombia's Lentesplus, a developer of an e-commerce platform dedicated to the commercialization of visual-health devices, closed a financing round of USD $8.00 million led by DG Ventures, Empire Group and IGNIA Partners. Palm Drive Capital also participated in this round.

Israel's Vault AI, a developer of a predictive-analytics and marketing platform designed to deliver critical audience insights, closed a financing round of USD $8.00 million led by Hearst Ventures and Pico Partners. Tv Azteca, Remagine Ventures and Yair Landau also participated in this round.

Colombia's Autolab, a multi-brand self-service automotive-center operator aimed at reinventing automotive mechanics, closed a seed financing round of USD $6.50 million led by Bullpen Capital. Polymath Ventures, VU Venture Partners, Proeza Ventures, 10X Capital and Western Technology Investment also participated in this round.

Colombia's Aptuno, a developer of an online property-listing platform designed to make the rental process easier and more efficient, closed a seed financing round of USD $5.00 million led by Dalus Capital and Kayyak Ventures. Salkantay Ventures, Amador Holdings, Frontier Digital Ventures, Luis Arbulu and other investors also participated in this round.

Spain's Ufounders, an acceleration and incubation services provider designed to guide entrepreneurs through all phases of a startup, closed a financing round of EUR €3.00 million led by BID Capital. Marcos Parada, Javier Sabas and seven other investors also participated in this round.

U.S.-based Banyan Water, an internet-of-things platform developer designed to implement total water management, closed a funding round of USD $3.00 million led by Grupo Rotoplas and other undisclosed investors.

U.S.-based GuruHotel, an e-commerce hotel platform operator designed to create a link between technology and hospitality experts, closed a funding round of USD $2.10 million led by 500 Startups, Anthemis and Magic Fund. Shruti Challa and other undisclosed investors also participated in this round.

Colombia's Rocketfy, an online sales platform developer designed to enable businesses to operate their own online store, closed a seed funding round of USD $700,000.00 led by Chile Ventures and The Ark Fund. Other angel investors also participated in this round.

Mexico's Cacao Paycard, a Fintech platform developer designed to help entities offer digital payment methods in compliance with regulations, was acquired by Conductor Tecnologia through its financial sponsors Temasek Holdings, Viking Global Investors and Riverwood Capital via an LBO for an undisclosed amount.

DM Color Mexicana (a subsidiary of Dainichiseika Color and Chemicals Mfg. Company and Mitsubishi Corporation Plastics), a plastic compound and colorant manufacturer based in Guanajuato Mexico, reached a definitive agreement to be acquired by Ascend Performance Materials via its financial sponsor SK Capital Partners through an LBO for an undisclosed amount.

Mexico's Gasoducto de Morelos (a subsidiary of Elecnor and Enagás), owner and operator of the gas pipeline crossing the states of Morelos, Puebla and Tlaxcala, reached a definitive agreement to be acquired by Macquarie Asset Management via an LBO for USD $173.80 million.

Mexico's Grupo Edid, a rigid and printed packaging manufacturer focused on the food and beverage, household, health and personal care sectors based in Lerma Mexico, was acquired by Pretium Packaging via its financial sponsors Clearlake Capital Group and Branford Castle Partners through an LBO for an undisclosed amount.

Mexico's Interquim, an active pharmaceutical ingredient (API) manufacturer based in Cuautitlán Izcalli Mexico, was acquired by Alta Growth Capital and Fondo de Fondos via an LBO for an undisclosed amount.

Mexico's Kio Networks, an information-technology services provider based in Mexico City, was acquired by I Squared Capital through an LBO for an undisclosed amount.

PWS Mexico, a reinsurance-intermediation services provider focused on real estate and third-party liability businesses based in Mexico City, reached a definitive agreement to be acquired by BMS Group through its financial sponsors British Columbia Investment Management and Preservation Capital Partners, via an LBO for an undisclosed amount.

Mexico's Viva Aerobus, operator of a low-cost airline in Mexico based in Apodaca Mexico, reached a definitive agreement to receive USD $50.00 million in financing from Allegiant Travel. The transaction seeks to provide affordable flights and connect numerous new cross-border cities.

Singapore's Gozem, a company developing an online shared-transportation platform designed to provide seamless access to transportation services, is in the process of receiving USD $15.00 million in debt in the form of a loan from undisclosed investors. Previously, the company received financing in the form of SAFE notes and USD $5.00 million from Thunes, Momentum and Lil Ventures. CMC Ventures, Bernhard Schulte INNOPORT and AAIC Ventures also participated in this round.

APx Acquisition (NAS: APXIU), operator of a blank-check company based in Mexico City, raised USD $150.00 million in its initial public offering on the Nasdaq under the ticker APXIU.

LIV Capital Acquisition II, operator of a blank-check company based in Mexico City, filed a request to list on the Nasdaq under the ticker LIVBU.

Aeroméxico (MEX: AEROMEX), operator of an airline in Mexico, filed a Tender Offer (OPA) for up to 49.00% of its shares.

Mexico's Genomma Lab (MEX: LABB), a company dedicated to the marketing of OTC pharmaceuticals and dermocosmetic products, announced a partnership with Oramed Pharmaceuticals, which through its subsidiary Oravax Medical will conduct trials to commercialize Oravax, an oral COVID-19 vaccine in Mexico.

Mexico's Grupo Famsa, a retail-sector company focused on meeting the consumption, financing and savings needs of families in Mexico and the United States, submitted a restructuring proposal to exit the Concurso Mercantil proceedings it initiated in August 2020, through which it seeks to restructure debts totaling MXN $21,322.00 million.

Intercontinental Hotels Group (LON: IHG) announced its expansion plan in Mexico for the opening of 34 new hotels by 2025. In 2021, two franchise agreements were signed and the Holiday Inn Express Tijuana and Holiday Inn Express Monterrey hotels were opened, along with three additional openings. For 2022, the company has scheduled five openings representing an investment of approximately USD $66.00 million.

Petróleos Mexicanos (MEX: PEMEX) announced the creation of an additional subsidiary for the domestic commercialization of petroleum products, gas and petrochemicals, with the objective of strengthening and increasing its share of the domestic market for such products. The subsidiary will be led by Alberto Velázquez García, current Corporate Finance Director of Pemex.

Total Play Telecomunicaciones conducted a public offering of short-term market securities (certificados bursátiles de corto plazo) for MXN $1,000.00 million on the Bolsa Institucional de Valores (BIVA) through Actinver Casa de Bolsa and Punto Casa de Bolsa.

Mexarrend (BIVA: MEXAMX) conducted two public offerings of short-term market securities (certificados bursátiles de corto plazo) for MXN $90.00 million and MXN $23.00 million, respectively, on the Bolsa Institucional de Valores (BIVA) through Vector Casa de Bolsa.

Mexarrend (BIVA: MEXAMX) conducted two public offerings of short-term market securities (certificados bursátiles de corto plazo) for MXN $90.00 million and MXN $23.00 million, respectively, on the Bolsa Institucional de Valores (BIVA) through Vector Casa de Bolsa.

Grupo Elektra (MEX: ELEKTRA) conducted a public offering of short-term market securities (certificados bursátiles de corto plazo) for MXN $2,500.00 million on the Bolsa Institucional de Valores (BIVA) through Actinver Casa de Bolsa and Punto Casa de Bolsa.

Sofoplus (BIVA: SFPLUS) conducted a public offering of short-term market securities (certificados bursátiles de corto plazo) for MXN $125.00 million on the Bolsa Institucional de Valores (BIVA) through Casa de Bolsa Ve por Más.