M&A Newsletter — January 2023

Mexico's Elevadores EV International, a manufacturer of vertical-transportation systems for the elevator industry based in Tijuana, was acquired by Fujitec Co (PINX: FJTCY) for an undisclosed amount.

Aurea Mining (a subsidiary of Canada's Argonaut Gold (TSE: AR)), an operator of a gold mine based in Guerrero, Mexico, reached a definitive agreement to be acquired by Heliostar Metals (TSX: HSTR) for USD $10.00 million.

Fotowatio, a 300 MW solar farm based in Jalisco, Mexico owned by Spain's Fotowatio Renewable Ventures, was acquired by Zuma Energía for an undisclosed amount.

La Parrilla Silver Mine, a silver-mining project based in Durango, Mexico owned by Canada's First Majestic Silver, was acquired by Golden Tag Resources (CVE: GOG) for USD $33.50 million.

Mexico's SaludYMedicinas (a subsidiary of Editorial Multicolor), an operator of a free online medical-consultation portal based in Mexico City, was acquired by Opinión y Salud for an undisclosed amount.

Mexico's Norson, a provider of pork and meat products to customers in Sonora based in Hermosillo, reached a definitive agreement to be acquired by Industrias Bachoco (MEX: BACHOCOB) for an undisclosed amount.

Mexico's Multimedia, a provider of audiovisual-integration and information-technology services for homes, corporate buildings, universities, hospitals, hotels and classrooms based in Nuevo León, reached a definitive agreement to be acquired by AVI-SPL (a subsidiary of Whitlock) for an undisclosed amount.

Xcell Logistic de México, a provider of international air- and ocean-freight logistics services based in Mexico City, was acquired by B.I.G. Logistics (a subsidiary of SecurCapital) for an undisclosed amount.

Mexico's Zubialink Enterprises, operator of a digital marketing agency based in Mexico City, was acquired by Digital360 (MIL: DIG) for MXN $5.90 million.

Mexico's Zipa Entertainment, a provider of entertainment management services aimed at the authentic representation of modern Latin and Hispanic culture, was acquired by Curate Management for an undisclosed amount.

National Material of Mexico (a subsidiary of National Material), a provider of steel service centers for manufacturers of automobiles, ventilation systems, home appliances, motors and transformers based in Nuevo León, was acquired by Kloeckner Metals for USD $340.00 million.

La Compañía Internacional de Comercio (a subsidiary of Taisho Pharmaceutical Holdings), a pharmaceutical-products manufacturer based in Mexico City, was acquired by EMS (a subsidiary of NC Group) for an undisclosed amount.

Mexico's Tienda de Descuento Arteli, operator of a self-service store based in Tampico, was acquired by Grupo Comercial Chedraui (MEX: CHDRAUIB) for an undisclosed amount.

U.S.-based CuentasMAX, a provider of WiFi6 high-speed internet for warehouses and small businesses based in New York, was formed as a joint venture between Cuentas, WaveMAX and Execon Smart Solutions.

Argentina's HumanApis, a provider of cybersecurity services for enterprises based in Buenos Aires, was acquired by Metabase Q for an undisclosed amount.

Mexico's Momento, operator of an automotive insurance platform based in Mexico City, closed a funding round for an undisclosed amount with Gilgamesh Ventures.

Mexico's Fertilidad Integral, a developer of a fertility-clinic platform based in Mexico City, closed a financing round of MXN $3.50 million with DILA Capital.

Mexico's WelbeCare, a healthtech company operating an occupational-medicine platform with a 24/7 comprehensive health software and membership for employees, closed a seed financing round of USD $5.00 million led by Volpe Capital and Nazca. SVLC, Kortex and GreenRock also participated in this round.

Mexico's Aviva, an operator of a digital bank designed to provide credit through artificial intelligence, closed a seed financing round of USD $2.20 million led by Wollef Ventures, Newtopia VC and Seedstars International Ventures. Xtraordinary Venture Partners, 500 Startups LatAm and other undisclosed angel investors also participated in this round.

Mexico's Hero Guest, an operator of a training platform for frontline workers with a focus on the restaurant and hospitality industries, closed a seed financing round of USD $2.30 million led by MVS Comunicaciones, VARIV Capital and Grupo Anderson's, reaching a pre-money valuation of USD $6.50 million.

Mexico's Kinedu, a developer of an educational platform for children based in Monterrey, closed a financing round of USD $5.69 million with 500 Global.

Mexico's Revie, an operator of an information platform designed to share e-commerce website reviews via WhatsApp, closed a financing round for an undisclosed amount with 500 Global.

Altscore, a developer of artificial-intelligence technology designed to facilitate the extension of credit to unbanked individuals and businesses, based in Mexico City, closed a seed financing round of USD $3.50 million led by Far Out VC. An additional 11 investors also participated in this round.

Mexico's Bright, a provider of a solar-energy subscription service designed to empower homeowners with clean energy, based in Mexico City, closed a financing round of USD $5.00 million with Indicator Fund.

U.S.-based Swyft, a developer of an automated retail platform based in California, closed a financing round for an estimated USD $14.00 million with FEMSA Ventures, Investisseurs & Partenaires, Jonty Kelt and other undisclosed investors, reaching a pre-money valuation of USD $36.00 million.

U.S.-based Paybook, a developer of a financial and money-management platform based in Texas, closed a financing round for USD $10.00 million led by Point72 Ventures, reaching a pre-money valuation of USD $22.00 million. Avalancha Ventures, Mantis VC, FJ Labs, Ausum Ventures and JAM Fund, among others, also participated in this round.

U.S.-based Kuona, a developer of an artificial-intelligence platform designed to automatically optimize product pricing, promotions and inventory based in California, closed a seed financing round for USD $6.00 million led by Cometa. FEMSA Ventures, Ariel Arrieta, Cathay Innovation and Seaya Cathay Latam Fund also participated in this round.

U.S.-based Frontrunner, an operator of a sports betting and trading platform based in New York, closed a financing round for USD $4.75 million led by Susquehanna and LLLP. Gilgamesh Ventures, Toy Ventures, Soma Capital, Gaingels and WAGMi Ventures, among others, also participated in this round.

Valoreo, an operator of a holding company focused on acquiring, operating and developing e-commerce businesses in Latin America based in Mexico City, was acquired by Razor Group through its financial sponsors L Catterton, Presight Capital and 468 Capital, via an LBO for an undisclosed amount.

Germany's Onomotion, a developer of an electric vehicle designed to efficiently deliver goods and cargo based in Berlin, closed a financing round for EUR €21.00 million in a combination of debt and equity led by Wolfsburg, Volkswagen and GLS Bank. Proeza Ventures, Golzern Holding, Zu na mi, EIC Fund and EIT InnoEnergy, among others, also participated in this round.

Almacenadora Afirme (MEX: AFIRALM) carried out the placement of short-term market securities for MXN $3,237.86 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Base.

Orbia Advance Corporation (MEX: ORBIA) carried out the placement of long-term market securities for MXN $10,000.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México and Scotia Inverlat Casa de Bolsa.

Arrendadora Actinver (MEX: ARREACT) completed the placement of short-term market securities for MXN $830.00 million on the Bolsa Mexicana de Valores (BMV) through Actinver Casa de Bolsa.

Ford Credit de México (MEX: FORD) completed the placement of short-term market securities for MXN $200.00 million on the Bolsa Mexicana de Valores (BMV) through Scotia Inverlat Casa de Bolsa and Casa de Bolsa Banorte.

GM Financial de México (MEX: GMFIN) completed the placement of short-term market securities for MXN $534.01 million on the Bolsa Mexicana de Valores (BMV) through Scotia Inverlat Casa de Bolsa and Casa de Bolsa Banorte.

Navistar Financial (MEX: NAVISTS) completed the placement of short-term market securities for MXN $80.65 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) completed the placement of short-term market securities for MXN $260.00 million on the Bolsa Mexicana de Valores (BMV) through Scotia Inverlat Casa de Bolsa.

Toyota Financial Services México (MEX: TOYOTA) completed the placement of short-term market securities for MXN $151.04 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México and Scotia Inverlat Casa de Bolsa.

Start Banregio (MEX: START) completed the placement of short-term market securities for MXN $285.00 million on the Bolsa Mexicana de Valores (BMV) through Actinver Casa de Bolsa.

Cetelem (MEX: CETELEM) completed the placement of short-term market securities for MXN $121.65 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México.

Volkswagen Leasing (MEX: VWLEASE) completed the placement of stock-market certificates for MXN $600.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México.

Genomma Lab Internacional (MEX: LAB) completed the placement of short-term stock-market certificates for MXN $200.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México and Actinver Casa de Bolsa.

Arrendadora Afirme (MEX: AFIRMAR) completed the placement of short-term stock-market certificates for MXN $226.13 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Base.

Factoraje Afirme (MEX: AFIRFAC) completed the placement of short-term stock-market certificates for MXN $136.24 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Base.

Grupo Carso (MEX: GCARSO) completed the placement of short-term stock-market certificates for MXN $5,450.00 million on the Bolsa Mexicana de Valores (BMV) through Inbursa, Casa de Bolsa.

ION Financiera (MEX: ION) completed the placement of short-term stock-market certificates for MXN $94.87 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Base.

Fondo Especial para Financiamientos Agropecuarios (BIVA: FEFA) completed the placement of short-term fiduciary stock-market certificates for MXN $800.00 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 short-term stock-market certificates for MXN $2,500.00 million on the Bolsa Institucional de Valores (BIVA) through Actinver Casa de Bolsa and Punto Casa de Bolsa.

Agriprofin (BIVA: AGRO) carried out the placement of real estate investment trust certificates (CBFIs) for MXN $976.82 million on the Bolsa Institucional de Valores (BIVA) through Casa de Bolsa Credit Suisse and Casa de Bolsa Finamex.

Pretmex (BIVA: PRTMXCB) carried out the placement of fiduciary securities certificates for MXN $200.00 million on the Bolsa Institucional de Valores (BIVA) through Bursamétrica Casa de Bolsa.

Fimubac (BIVA: FIMUBCB) carried out the placement of fiduciary securities certificates for MXN $1,580.00 million on the Bolsa Institucional de Valores (BIVA) through Bursamétrica Casa de Bolsa, Casa de Bolsa Banorte, CI Casa de Bolsa and Intercam Casa de Bolsa.

Total Play Comunicaciones (BIVA: TPLAY) carried out the placement of short-term securities certificates for MXN $1,000.00 million on the Bolsa Institucional de Valores (BIVA) through Actinver Casa de Bolsa and Punto Casa de Bolsa.

Mexico's Pueblo Bonito, a group dedicated to the development, marketing and operation of resort complexes, traditional hospitality, timeshare and golf courses, announced the construction of a real estate complex based in San Miguel de Allende for 2023 with an investment of MXN $1,450.00 million.