M&A Newsletter — June 2022

La Guitarra, a silver and gold mine based in the Temascaltepec mining district, Mexico, owned by First Majestic Silver (TSE: FR), was acquired by Sierra Madre Gold And Silver (TSX: SM) for USD $35.00 million.

Canada's Silverton Metals (TSX: SVTN) reached a definitive agreement to acquire Margaritas, a gold and silver mining project based in Durango, Mexico, owned by Zapata Exploration and 0924682 B.C., for an undisclosed amount.

Centrica Business Solutions Mexico (a subsidiary of Centrica (LON: CNA)), a comprehensive energy-solutions provider for businesses based in Mexico City, reached a definitive agreement to be acquired by ReVolve Renewable Power (TSX: REVV) for MXN $33.00 million.

Vifaru Casa de Bolsa, an electronic-execution services provider for corporate and institutional clients based in Mexico City, reached a definitive agreement to be acquired by Flink for MXN $25.00 million.

Roca Acero, a scrap-recycling services provider for industries and businesses based in Escobedo, Mexico, reached a definitive agreement to be acquired by Steel Dynamics (NAS: STLD) for an undisclosed amount.

Inamex de Cerveza y Malta (a business unit of Grupo Modelo (MAD: XGMD)), a manufacturer of machinery and equipment for the brewing, sugar, and food-and-beverage industries based in Texcoco, Mexico, was acquired by Grupo Sanmartin for an undisclosed amount.

Grupo Farmacéutico Somar, a pharmaceutical-products manufacturer based in Mexico City, reached a definitive agreement to be acquired by Procaps (NAS: PROC) for an undisclosed amount.

Plásticos Uribe, a flexible-packaging solutions manufacturer based in Tlaquepaque, Mexico, was acquired by St. Johns Packaging for an undisclosed amount.

U.S.-based Paulita's New Mexico, a producer of Hatch green chile products and recipes based in Rio Rancho, was acquired by Tajín for an undisclosed amount.

Mexico's RAM México, a public accounting and business consulting firm led by Alfonso Elías Bornacini, announced its merger with Asesores de Consejo y Alta Dirección (ACAD), a consulting firm specializing in family businesses and SMEs led by Guillermo Cruz.

U.S.-based American Paper & Supply Company, a provider of cleaning and sanitation solutions, food service, packaging, and marketing execution based in New Jersey, was acquired by Envoy Solutions (a business unit of FEMSA (MEX: FEMSA)) for an undisclosed amount.

U.S.-based Pantaya, an operator of a Spanish-language streaming platform based in California and owned by Hemisphere Media Group, reached a definitive agreement to be acquired by TelevisaUnivision for an undisclosed amount.

Four plants owned by Distribuidora de Concreto del Caribe (Concrecar), a ready-mix concrete provider serving the markets of Cancún, Playa del Carmen, Isla Banca and Tulum México, were acquired by Holcim México for an undisclosed amount.

Mexico's Lite, a startup specializing in business-process automation and digitalization, was acquired by Spain's Multiplica for an undisclosed amount.

Padilla 66, a luxury residential project developed by Riverdale Consulting based in Salamanca, Spain, was acquired by Mexico's Be Grand and Grupo La Finca for approximately EUR €25.00 million.

An additional stake in Fortaleza Materiales and Elementia Materiales, owned by Grupo Kaluz, was acquired by Condumex (a subsidiary of Grupo Carso (MEX: GCARSO)), a company focused on the construction, infrastructure, energy, automotive, telecommunications and mining sectors, for an undisclosed amount.

Universidad Politécnica de San Luis Potosí, an operator of a polytechnic university based in San Luis Potosí, Mexico, reached a definitive agreement to be acquired by Bestinver through an LBO for an undisclosed amount.

Semtech Corporation (a subsidiary of Semtech), a semiconductor manufacturer based in Reynosa, Mexico, was acquired by Micross Components, via its financial sponsors Behrman Capital, Apollo Global Management and Blackstone Secured Lending Fund BDC, through an LBO for USD $30.00 million.

Brazil's Nautika, an operator of an online retail sales platform focused on camping, fishing and adventure, was acquired by Mexico's Merama through an LBO for an undisclosed amount.

Hitch, a developer of a talent-acquisition platform based in Mexico City, closed a financing round for an undisclosed amount with Evergreen Mountain Equity Partners and StartFast Ventures Management.

Dooper, a community-services provider aimed at generating an additional income source based in Guadalajara, Mexico, closed a funding round for an undisclosed amount with Angel Ventures Mexico.

Mexico's Nowports, a startup developing a digital freight-transportation platform based in Monterrey, Mexico, closed a funding round of USD $150.00 million led by SoftBank Latin America Fund, reaching a valuation of USD $1,100.00 million and attaining unicorn status. Tiger Global Management, Foundation Capital, Tencent, Monashees and Soma Capital, among others, also participated in this round.

UnDosTres, a developer of an online payments platform based in Mexico City, closed a funding round of USD $30.00 million led by IDC Ventures.

YAVE, a developer of a real-estate mortgage-financing platform based in Mexico City, closed a funding round in the form of SAFE notes for USD $10.17 million with undisclosed investors.

Crediclub, a developer of an online credit financial platform based in Monterrey, Mexico, reached a definitive agreement to receive an undisclosed amount of growth capital from L Catterton.

Más Seguros, an insurance provider serving Mexico and the United States based in Mexico City, received an undisclosed amount of growth capital from Maven Equity Partners.

Liga MX, a media company focused on the sale of media rights and broadcasting rights for the Mexican soccer league based in Toluca, Mexico, is in talks to sell a 20% stake in the company to Apollo Global Management for an estimated USD $1,250.00 million.

Spot2, a developer of a real-estate technology ecosystem designed to connect brands and entrepreneurs with commercial spaces based in Huixquilucan, Mexico, closed a seed funding round of USD $4.20 million led by Streamlined Ventures. HOF Capital, Acrew Capital, H20 Capital Innovation, Alister Moreno and Sebastián Kreiss, among others, also participated in this round.

Welbe, a Mexico City-based developer of a health platform leveraging data collection and artificial intelligence, closed a seed funding round of USD $3.00 million led by Nazca, reaching a pre-money valuation of USD $10.00 million. Marathon Ventures, H20 Capital Innovation, Ricardo Weder, David Geisen and André Maxnuk, among others, also participated in this round.

Paisa, a Mexico City-based developer of a credit platform designed to improve financial health through remittances, closed a seed funding round of USD $600,000.00 led by Magma Partners, Precursor Ventures and Gaingels. Kleiner Perkins, Latitud, Claire Diaz-Ortiz, Loreanne García and Courtney McColgan also participated in this round.

YoCripto, a Mexico City-based developer of a digital platform designed to offer a bitcoin-rewards credit card, closed a seed funding round of USD $4.00 million led by DILA Capital.

Colombia's Habi, a Bogotá-based developer of a technology-driven real-estate platform, closed a funding round of USD $200.00 million led by Homebrew and SoftBank Latin America Fund. Grupo Financiero Banorte, Endeavor Catalyst, Tiger Global Management, Clocktower Technology Ventures and Inspired Capital, among others, also participated in this round.

Chile's Xepelin, a Santiago-based provider of digital financial services focused on SMEs, closed a funding round of USD $111.00 million led by Avenir Growth Capital and Kaszek. Endeavor Catalyst, PayPal Ventures, Battery Ventures, MSA Novo and Amarena, among others, also participated in this round.

Germany's Bliq, a Berlin-based developer of a live-mapping platform, closed a funding round of EUR €13.50 million led by New Enterprise Associates, reaching a pre-money valuation of EUR €47.33 million. Proeza Ventures, Revel Partners, Speedinvest, Andreas Kupke and other undisclosed investors also participated in this round.

Israel's NSLComm, an Airport City-based developer of nanosatellite communication systems, closed a funding round of USD $14.30 million led by Arquimea Group. LIP Ventures Boutique also participated in this round.

Argentina's Henry, a Buenos Aires-based developer of a technology education platform, closed a funding round of USD $10.00 million led by Kayyak Ventures and Seaya Cathay Latam Fund. Dila Capital, Amarena and Eduardo della Maggiora (CEO of Betterfly), among others, also participated in this round.

U.S.-based Relay Response, a New York-based developer of a cardiac-arrest management platform, closed a funding round for an undisclosed amount with Xochi Ventures.

Argentina's Elevva, a startup designed to support online sellers in scaling their brands, closed a funding round of USD $30.00 million with Asymmetric Capital, MatterScale Ventures, Canary, Redwood Ventures and Latitud, among others.

Uruguay's Bankingly, a Fintech startup providing digital banking channels for financial institutions, closed a funding round of USD $11.00 million led by Dalus Capital. BID Lab, IDC Ventures, Athos Group, Kube Ventures and Grupo Finacess, among others, also participated in this round.

Mexico's Verqor, a startup designed to facilitate access to credit for agricultural workers, closed a seed funding round of USD $2.50 million led by SP Ventures. Amplifica Capital, Mercy Corps Ventures, Magma Partners and Angel Hub also participated in this round.

Mexico's CEMEX Ventures (the venture-capital unit of CEMEX (MEX: CEMEXCPO)) made an undisclosed investment in Chile's ObraLink, a startup operating a platform focused on the construction industry.

Cosmocel, a manufacturer and distributor of specialty chemicals targeting the horticultural, ornamental, fruit and grain markets based in San Nicolás de los Garza, México, reached a definitive agreement to be acquired by Rovensa, through its financial sponsors Partners Group and Bridgepoint Advisers, via an LBO for EUR €700.00 million.

Probiomed, a biopharmaceutical company dedicated to improving the health and quality of life of patients based in Mexico City, was acquired by Laboratorios Sanfer, through its financial sponsors Caisse de dépôt et placement du Québec, General Atlantic and Ventura Capital Privado, via an LBO for an undisclosed amount.

Bendito Resources reached a definitive agreement to acquire Oposura and Promontorio, two mining projects based in the Laramide province of México owned by Azure Minerals, through an undisclosed financial sponsor. Azure Minerals will receive a combination of cash and shares valued at AUD $20.00 million for both assets.

Canada's Bendito Resources reached a definitive agreement to acquire Alacrán, a copper mine based in Sonora, Mexico owned by Azure Minerals, via an undisclosed financial sponsor through an LBO for an undisclosed amount.

Excellence Resorts, an operator of a hotel and resort serving clients in Punta Cana, Dominican Republic, the Riviera Maya and Cancún, based in Quintana Roo, Mexico, closed a debt refinancing round of USD $60.00 million with CaixaBank.

Mexico's Arago Acquisition, a SPAC based in Mexico City, filed a request to list on the NASDAQ under the ticker symbol ARAGU.

Arrendadora Afirme (MEX: AFIRMAR) carried out the placement of short-term market securities (certificados bursátiles de corto plazo) for MXN $738.69 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Base.

Almacenadora Afirme (MEX: AFIRALM) carried out the placement of short-term market securities (certificados bursátiles de corto plazo) for MXN $2,527.49 million and USD $8.58 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Base.

ION Financiera (MEX: ION) carried out the placement of short-term market securities (certificados bursátiles) in the amount of MXN $266.28 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Base.

Factoring Corporativo (MEX: FACTOR) carried out the placement of short-term market securities (certificados bursátiles) in the amount of MXN $87.00 million on the Bolsa Mexicana de Valores (BMV) through Vector Casa de Bolsa.

Start Banregio (MEX: START) carried out the placement of short-term market securities (certificados bursátiles) in the amount of MXN $413.00 million on the Bolsa Mexicana de Valores (BMV) through Actinver Casa de Bolsa.

GM Financial de México (MEX: GMFIN) carried out the placement of short-term market securities (certificados bursátiles) in the amount of MXN $2,119.75 million on the Bolsa Mexicana de Valores (BMV) through Scotia Inverlat Casa de Bolsa and Casa de Bolsa Banorte, and MXN $1,500.00 million 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) in the amount of MXN $609.947 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) in the amount of MXN $304.22 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México and Scotia Inverlat Casa de Bolsa.

Grupo Vasconia (MEX: VASCONI) carried out the placement of short-term market securities (certificados bursátiles) in the amount of MXN $150.00 million on the Bolsa Mexicana de Valores (BMV) through Actinver Casa de Bolsa.

Sistema de Crédito Automotriz (MEX: SICREAC) carried out 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 Actinver Casa de Bolsa.

Cetelem (MEX: CETELEM) completed the placement of short-term market securities (certificados bursátiles) in the amount of MXN $762.78 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México.

Volkswagen Leasing (MEX: VWLEASE) completed the placement of short-term market securities (certificados bursátiles) in the amount of MXN $4,406.29 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México.

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.

Arrendadora Actinver (MEX: ARREACT) completed the placement of short-term market securities (certificados bursátiles) in the amount of MXN $1,240.13 million on the Bolsa Mexicana de Valores (BMV) through Actinver Casa de Bolsa.

Unifin Financiera (MEX: UNIFIN) completed the placement of short-term market securities (certificados bursátiles) in the amount of MXN $120.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Base and Scotia Inverlat Casa de Bolsa.

Corporación Actinver (MEX: ACTINVR) completed the placement of short-term market securities (certificados bursátiles) in the amount of MXN $350.00 million on the Bolsa Mexicana de Valores (BMV) through Actinver Casa de Bolsa.

Navistar Financial (MEX: NAVISTS) completed the placement of short-term market securities (certificados bursátiles) in the amount of MXN $2,000.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México and Scotia Inverlat Casa de Bolsa.

Mercader Financial (MEX: MERCFIN) completed the placement of short-term market securities (certificados bursátiles) in the amount of MXN $150.00 million on the Bolsa Mexicana de Valores (BMV) through Intercam Casa de Bolsa, Casa de Bolsa Banorte and Scotia Inverlat Casa de Bolsa.

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

Fortaleza Materiales (MEX: FORTALE) completed the placement of long-term market securities (certificados bursátiles) for MXN $2,000.00 million on the Bolsa Mexicana de Valores (BMV) through Inbursa Casa de Bolsa and Casa de Bolsa Ve Por Más.

Crediclub (MEX: CREDICL) completed the placement of short-term market securities (certificados bursátiles) for MXN $50.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Base, Casa de Bolsa Banorte and Actinver Casa de Bolsa.

Banco de México, acting as trustee of the public trust Fondo Especial para Financiamientos Agropecuarios (MEX: FEFA), completed the placement of fiduciary market securities (certificados bursátiles fiduciarios) for MXN $6,000.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Santander, HSBC Casa de Bolsa and Scotia Inverlat Casa de Bolsa.

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

Molibdenos y Metales (MEX: MOLYMET) completed the placement of long-term market securities (certificados bursátiles) for MXN $2,000.00 million on the Bolsa Mexicana de Valores (BMV) through Citibanamex Casa de Bolsa and Scotia Inverlat Casa de Bolsa.

Mexarrend (BIVA: MEXAMX) completed the placement of short-term market securities (certificados bursátiles) for MXN $48.00 million on the Bolsa Institucional de Valores (BIVA) through Vector Casa de Bolsa.

Operadora de Servicios Mega (BIVA: GFMEGA) completed the placement of long-term market securities (certificados bursátiles) for MXN $3,000.00 million on the Bolsa Institucional de Valores (BIVA) through HSBC Casa de Bolsa and J.P. Morgan Casa de Bolsa.

Sofoplus (BIVA: SFPLUS) completed the placement of short-term securities certificates for MXN $100.00 million on the Bolsa Institucional de Valores (BIVA) through Casa de Bolsa Ve por Más.

U.S.-based Bed Bath & Beyond (NAS: BBBY) made an investment of MXN $60.00 million in the opening of its new store in Querétaro, Mexico, bringing its total to 12 units across eight states in the country.

Nissan, a multinational automotive assembler, announced an investment of USD $700.00 million in its complex in Aguascalientes, Mexico. The proceeds will be allocated to improving production processes, automation, and training within the plant.

Canada's Torex Gold Resources, a mining company and owner of Minera Media Luna, announced an investment of MXN $17,000.00 million in Guerrero, Mexico over the next three years. The proceeds will be allocated to the construction of a 100-meter tunnel beneath the Balsas River, the development of the Media Luna underground mine infrastructure, and the construction of a flotation circuit.

Ainvest, a Sofom owned by Spain's Abanca online banking financial group, was launched in Mexico with a capital of MXN $10,000.00 million to invest in Mexican entrepreneurs and business owners over the next three years.

Spain's Castell, a funeral-services group led in Mexico by Rodrigo Ramírez, opened its first funeral home in Atizapán, Estado de México. The company plans to invest at least MXN $50.00 million this year in two new branches in the greater Mexico City metropolitan area, as well as in a training center.

Poland's Aiut, a company specializing in industrial automation and robotization solutions, announced an alliance with Mexico's Infoportal, a hardware and software equipment developer based in Monterrey, with the objective of establishing a Competitiveness and Skills Center in which they will train approximately 30 engineers in the digitalization of industrial processes.

WTech, a company specializing in security systems and tactical equipment, announced an investment of more than USD $180.00 million in a new assembly plant based in Jalisco, Mexico, to assemble military vehicles and electric passenger-transport vehicles, including those under the Kia Motors brand.

Grupo La Comer, a Mexico City-based superstore chain operator, opened its second store in Puebla, Mexico, with an investment of MXN $345.00 million, bringing its total store count to 79 locations nationwide.

Mexico's Solarever, a photovoltaic-technology company and solar-panel manufacturer, signed a commercial agreement with ATIF Holdings Limited to carry out its initial public offering (IPO) on the New York Stock Exchange. As part of this agreement, ATIF will receive a 5.25% stake in Solarever.