M&A Newsletter — May 2024

Mexico's Coincash, a payment-services provider focused on the video-gaming sector based in Mexico City, was acquired by Sul Payments for an undisclosed amount.

Canada's Minera Alamos, a metal-mining company with operations across multiple regions of the country based in Toronto, announced the full acquisition of the Suaqui Verde Copper Project from Southern Empire Resources for an undisclosed amount.

Mexico's Truffino, a chocolate producer based in Mexico City, was acquired by Cimarrón Group for an undisclosed amount.

González Calvillo, a law firm focused on corporate legal services, was acquired by Pérez-Llorca for an undisclosed amount.

Mexico's Kopar, an industrial-products producer for robotics automation, pneumatics and connectivity based in Monterrey, was acquired by Applied Industrial Technologies for an undisclosed amount.

Mexico's Conekta, an online payment-services provider designed to streamline banking processes based in Monterrey, was acquired by Fomento Económico Mexicano (MEX: FEMSAD) for an undisclosed amount.

Mexico's MEISA, an auto-parts and industrial-machinery distributor headquartered in Querétaro, reached a definitive agreement with Atlas Copco to be acquired for an undisclosed amount.

Mexico's Rotoplas, a manufacturer of water storage and filtration tanks headquartered in Mexico City, reached a definitive agreement to acquire a 51% stake in Irrigación de Vanguardia for an undisclosed amount.

Mexico's CEMEX (MEX: CEMEXCPO), one of the leading construction-materials producers, reached a definitive agreement for the sale of CEMEX ASIA B.V., one of its subsidiaries in the Philippines, to Dacon Corporation, DMCI Holdings and Semirara Mining for an undisclosed amount.

Romania's Trei Brutari, a handmade-bread producer based in Targoviste, was acquired by Grupo BIMBO (MEX: BIMBOA) for EUR $100.00 million.

U.S.-based The Home Depot, one of the leading home-improvement retailers, announced its investment plans in Mexico for MXN $2,860.00 million to support its expansion plans in the country.

Israel's Magnus Metal, a developer of technologies designed to facilitate large-scale metal casting, closed a funding round of USD $19.91 million with Entrée Capital, Target Global, among others.

U.S.-based Cargado, a developer of a technology platform specialized in international logistics based in Chicago, closed a seed funding round of USD $9.96 million with Ironspring Venture, Zenda Capital and Wischoff Ventures.

Chile's Reuse, an operator of an e-commerce platform focused on refurbished electronic devices based in Santiago, closed an equity funding round of USD $4.51 million led by Seaya Cathay, CompuSolucines, Dalus Capital, among others.

Spain's Neurologyca, a developer of an artificial-intelligence services platform designed to analyze emotions and behavior across various fields such as neuromarketing, healthcare and market research, based in Madrid, closed a funding round of EUR $3.00 million with Sama Capital, Storm Ventures and other undisclosed investors.

U.S.-based Ord.io, a developer of a bitcoin-inscription analytics platform based in Nueva York, announced a funding round of USD $2.00 million with Sora Ventures, Bitcoin Frontier and other undisclosed investors.

U.S.-based Sherpa Cloud, a developer of a cloud platform designed to support developers through automation, headquartered in Delaware, closed a funding round of USD $1.00 million, led by Connetic Ventures, Amplifica Capital and Rogue Women.

Colombia's Magneto, a developer of a recruitment, selection and employer-branding platform based in Medellín, closed a financing round with Promotora Social México for an undisclosed amount.

Club Necaxa, a soccer team based in Aguascalientes, closed a financing round for an undisclosed amount with actors Robert McElhenney and Ryan Reynolds.

Mexico's Mezcal Local, a spirits producer with offices in Mexico City, closed an equity financing round with InvestBev for an undisclosed amount.

Mexico's NDS Cognitive Labs, a provider of digital services and artificial intelligence for business development based in Mexico City, closed an equity financing round for an undisclosed amount with Muir Equity.

Mexico's Palenca, a developer of an interface enabling employee background verification based in Mexico City, closed a financing round for an undisclosed amount with Experian Ventures.

Mexico's Zela, an operator of systems focused on the contracting and management of private security services headquartered in Mexico City, closed a financing round with Magma Partners for an undisclosed amount.

Mexico's Crezes, a data-analytics platform operator for business decision-making based in Mexico City, closed a seed financing round of USD $750.00 thousand with Maya Capital.

Mexico's Eden, a technology developer enabling early-stage breast cancer risk assessment based in Mexico City, closed a financing round of USD $7.89 million with undisclosed investors.

Nu Holdings announced an investment of USD $100.00 million in Mexico to strengthen its local portfolio. With this increase, total investment in the country reaches USD $1,400.00 million.

Mexico's Irrigación de Vanguardia, a producer of advanced irrigation systems for agriculture based in Culiacán, was acquired through a leveraged buyout (LBO) by Rieggo via its financial sponsor Renewable Resources Group for an undisclosed amount.

Mexico's Etiflex, an identification and labeling-services provider based in Mexico City, was acquired through a leveraged buyout (LBO) by ProMach, via its financial sponsors Leonard Green & Partners and Omnes Capital, for an undisclosed amount.

Mexico's Merama, a strategic investment and brand-development operator for various business solutions based in Mexico City, closed a debt financing round of USD $80.00 million with undisclosed investors. The proceeds will be used to refinance existing debt and acquire other brands with high growth potential.

Almacenadora Afirme (MEX: AFIRALM) carried out the placement of short-term market securities (certificados bursátiles de corto plazo) for MXN $3,257.55 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Base.

Arrendadora Afirme (MEX: AFIRMAR) carried out the placement of short-term market securities (certificados bursátiles de corto plazo) for MXN $1,197.74 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Base.

Factoraje Afirme (MEX: AFIRFAC) carried out the placement of short-term market securities (certificados bursátiles de corto plazo) for MXN $152.66 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Base.

Arrendadora Actinver (MEX: ARREACT) carried out the placement of short-term market securities (certificados bursátiles de corto plazo) for MXN $185.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Actinver.

Almacenadora Mercader (MEX: ALMER) carried out the placement of short-term market securities (certificados bursátiles de corto plazo) for MXN $148.86 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México, Intercam Casa de Bolsa and Actinver Casa de Bolsa.

América Móvil (MEX: AMX) completed the placement of short-term market securities in the amount of MXN $1,860.67 million through Casa de Bolsa BBVA.

Value Arrendadora completed the placement of long-term market securities in the amount of MXN $1,000.00 million on the Bolsa Mexicana de Valores (BMV) through Value Casa de Bolsa.

Financiera Bepensa (MEX: FINBE) completed the placement of short-term market securities in the amount of MXN $450.00 million on the Bolsa Mexicana de Valores (BMV) through broker-dealers Actinver, Banorte and Intercam.

Ford Credit de México (MEX: FORD) completed the placement of short-term market securities in the amount of MXN $2,350.00 million on the Bolsa Mexicana de Valores (BMV) through Scotia Inverlat Casa de Bolsa and Casa de Bolsa Banorte.

Genomma Lab Internacional (MEX: LABB) completed the placement of short-term market securities in the amount of MXN $300.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México and Actinver Casa de Bolsa.

GM Financial de México (MEX: GMFIN) completed the placement of short- and long-term market securities in the amounts of MXN $1,956.33 million and MXN $1,000.00 million, respectively, 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- and long-term market securities in the amounts of MXN $144.00 million and $2,000.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México and Scotia Inverlat Casa de Bolsa.

Arca Continental Bebidas completed the placement of long-term market securities in the amount of MXN $7,400.00 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 securities certificates (certificados bursátiles) in the amount of MXN $1,382.00 million on the Bolsa Mexicana de Valores (BMV) through Scotia Inverlat Casa de Bolsa and Banorte Casa de Bolsa.

Portafolio de negocio completed the placement of short-term securities certificates (certificados bursátiles) in the amount of MXN $200.00 million on the Bolsa Mexicana de Valores (BMV) through CI banco and Banorte.

Start Banregio (MEX: START) completed the placement of short-term securities certificates (certificados bursátiles) in the amount of MXN $932.00 million on the Bolsa Mexicana de Valores (BMV) through Actinver Casa de Bolsa.

Toyota Financial Services México (MEX: TOYOTA) completed the placement of short-term securities certificates (certificados bursátiles) in the amount of MXN $428.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México and Scotia Inverlat Casa de Bolsa.

Volkswagen Leasing (MEX: VWLEASE) completed the placement of short-term securities certificates (certificados bursátiles) in the amount of MXN $5,917.09 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México and Scotia Inverlat Casa de Bolsa.

BBVA (MEX: BBVA) completed the placement of short- and long-term structured bonds in the amount of MXN $15,615.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México.

Grupo Minsa completed the placement of short-term securities certificates (certificados bursátiles) in the amount of MXN $100.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Actinver, Banorte and Intercam.

Grupo Carso (MEX: GCARSOA1) completed the placement of long-term securities certificates (certificados bursátiles) in the amount of MXN $1,800.00 million on the Bolsa Mexicana de Valores (BMV) through Inbursa Casa de Bolsa.

South Korea's Seojin Mobility, an electric-motor manufacturer based in Siheung, will invest USD $260.00 million in the construction of its first plant in the country, to be located in the northern part of the state of Nuevo León.

Mexico's Grupo Posadas, a hotel operator in Mexico, announced its investment plans for the opening of up to 21 hotels over the next two years, for an estimated amount of USD $871.00 million.

U.S.-based Horton Automatics, a producer of automatic and manual doors for residential and industrial use, announced the construction of a new plant in the state of Tamaulipas, for an amount of USD $20.00 million.