M&A Newsletter — November 2021

Mexico's Abasolo Mexican Whisky (owned by Casa Lumbre), an artisanal whisky producer based in Jilotepec, Mexico, that distills through a nixtamalization process, is in negotiations to be acquired by Pernod Ricard (PAR: RI).

Estudios TeleMexico (a subsidiary of The Walt Disney Company), an entertainment content production company focused on the Spanish-speaking market, was acquired by ViacomCBS (NAS: VIAC) for an undisclosed amount.

Mexico's Fanosa, a manufacturer of polystyrene products used in the construction industry, was acquired by Grupo Lamosa (MEX: LAMOSA) for USD $115.00 million.

Vinylasa, a vinyl tile manufacturer focused on residential, commercial and institutional industries, was acquired by Tarkett (PAR: TKTT) for an undisclosed amount.

Four mining concessions held by Fresnillo (LON: FRES) in the San Agustín district, comprising a total of 27 hectares, were acquired by Argonaut Gold (TSE: AR) for USD $5.75 million.

Copper-Gold Porphyry, a copper and gold mine operator in Mexico, was acquired by Tamino Minerals (PINX: TINO).

Mexico's Bigo Consulting, a digital commerce and CRM consulting-services provider based in Zapopan, Jalisco, was acquired by Keyrus (PAR: ALKEY) for an undisclosed amount.

Mexico's Corporativo Agroindustrial Altex (a wheat-milling business unit owned by Bunge (NYS: BG)), a wheat mill operator, was acquired by Grupo Trimex for an undisclosed amount.

Mexico's Impac, a manufacturer of construction chemical products focused on the real-estate industry, was acquired by Saint-Gobain (PAR: SGO) for an undisclosed amount.

SMX Global divested an equity stake in Rappi, an operator of an on-demand delivery platform, for an undisclosed amount.

NexPay, a developer of an international payments platform for money transfers in the education and immigration segments, was acquired by Euro Asia Pay (CNQ: EAP) for USD $3.70 million.

WeWork was acquired by BowX Acquisition (NAS: BOWX), a blank-check company, through a reverse merger that resulted in the combined company listing on the New York Stock Exchange under the ticker symbol WE. As part of the transaction, the company received financing of USD $800.00 million, bringing the total amount received to approximately USD $1.30 billion.

Caixa Capital Risc, Empresa Nacional de Innovación, The Valencian Energy Agency, IMPIVA, Valencian Council of Industry, European Regional Development Fund and EIT Climate-KIC reached an agreement to divest their equity stake in Edinn, a developer of a business-analytics platform, to an undisclosed investor.

OneLogin, a developer of an identity and access management platform designed to secure cloud applications and data, was acquired by One Identity (a subsidiary of Quest Software) for an undisclosed amount.

Three plants and a quarry owned by HeidelbergCement (ETR: HEI) located in Madrid, Spain were acquired by Cemex (MEX: CEMEXCPO) for an undisclosed amount.

Brazil's Aryzta (SWX: ARYN), a producer and supplier of food products focused on the global foodservice, retail and quick-service restaurant sectors, was acquired by Grupo Bimbo (MEX: BIMBOA) for an undisclosed amount.

NatureSweet Tomatoes, a San Antonio, Texas-based producer of small tomatoes, formed a joint venture with Mexico's Grupo Ganfer to expand its installed capacity for the cultivation and export of tomatoes and other vegetables.

U.S.-based LAM Holdings, a Wyoming-based financial-services provider, entered into negotiations to form a joint venture with MoneyBox.

Freshmart, a developer of an online food marketplace designed to help users purchase food and other products via home delivery, was acquired by Jüsto for an undisclosed amount.

U.S.-based Blackstone Inc., an alternative investment management company, plans to invest USD $1,000.00 million to acquire music rights and manage catalogs, as part of a partnership with an advisory firm affiliated with Hipgnosis Songs Fund Ltd. (LON: SONG), a music investment company that acquires song catalogs from artists.

Tala, an operator of a loan-application platform designed to offer financial access, choice and control to underserved individuals, closed a funding round of USD $145.00 million led by Upstart (Financial Software), reaching a valuation of USD $700.00 million. PayPal Ventures, Stellar Development Foundation, Kindred Ventures, Lowercase Capital, IVP, and others also participated in this round.

Magic Leap, a developer of a virtual computing interface system designed to combine digital and physical lives through computer-generated 3D imagery, closed a funding round of USD $500.00 million with undisclosed investors, reaching a valuation of USD $1.50 billion.

Drip Capital, a developer of an online trade-finance platform designed to provide working-capital financing to small and medium-sized cross-border trade companies in emerging markets, closed a funding round of USD $40.00 million led by TI Platform Management, reaching a valuation of USD $270.00 million. Wing Venture Capital, Accel, Sequoia Capital India, GC1 Ventures and IRONGREY also participated in this round.

Top Doctors, a developer of a healthcare-based electronic platform, closed a funding round of EUR €11.00 million led by Institut Català de Finances and Impact Partners Iberica.

Valiot, a developer of artificial-intelligence software designed to implement cutting-edge digital technologies in its clients' manufacturing processes, closed a funding round of USD $852,504.00 with undisclosed investors.

Applicate IT Solutions, a developer of mobile and cloud-based enterprise technology to boost sales through artificial intelligence, is seeking USD $30.00 million in financing. Previously, the company closed a funding round of USD $1.00 million led by Rishi Vasudev, Rajiv Nayan, and Rakesh Mishra.

Grupo Diagnostico Aries, a provider of clinical and imaging diagnostic services for the social development of Mexicans through health, housing and education, closed a financing round for an undisclosed amount with Caisse de dépôt et placement du Québec.

Ben & Frank, a retail company specializing in eyewear accessories, closed a financing round for an undisclosed amount with L Catterton and DILA Capital.

Rock Content, a provider of marketing content services for businesses, closed a financing round of USD $30.00 million with Unbox Capital, Crescera Capital, Provence Capital and BTG Pactual.

Crabi, a developer of an automobile insurance platform, closed a financing round of USD $4.00 million led by Kaszek. Redwood Ventures and other undisclosed investors also participated in this round.

Andonix, an operator of a smart workstation digital platform designed to empower and connect frontline workers in automobile manufacturing, closed a financing round of USD $500,000.00 with Corporación Andina de Fomento.

Grydd, a developer of cloud-based supply technology for the integration of commercial networks, closed a financing round of USD $400,000.00 with undisclosed investors.

PideDirecto, a developer of an e-commerce platform for local businesses, is seeking financing for an undisclosed amount. The company closed a financing round of USD $5.25 million led by JAM Fund.

ProductWind, a developer of an influencer-marketing solution platform designed for brand promotion, closed a funding round of USD $1.67 million led by Early Light Ventures. Ben Narasin also participated in this round.

TECH5, a developer of an identity-management platform for the management of face, finger and iris algorithms, closed a funding round of USD $8.00 million with Totm Technologies.

Webdox, a developer of a cloud-based software designed for signing and managing contracts, closed a funding round of USD $7.30 million led by Taram Capital. ChileGlobal Ventures, Kayyak Ventures, Alacrity Mexico and Asenza Capital also participated in this round.

Kurios, a provider of digital-skills training programs designed to help professionals and companies in Latin America in the digital era, closed a funding round for an undisclosed amount with Avalanche VC, Necessary Ventures and Julian Shapiro. Alan Rutledge, Harvard Management Company and other undisclosed investors also participated in this round.

Aprende Institute, a developer of online educational software designed to offer vocational-skills training in the North American Hispanic and Latin American markets, closed a funding round of USD $22.00 million led by Valor Capital Group. Artisan Venture Capital, ECMC, Univision Communications, Endeavor Catalyst, Capri Ventures and others also participated in this round.

Nelo, a developer of a digital-payment management platform for monitoring financial transactions, closed a funding round of USD $20.00 million led by Two Sigma Ventures. Susa Ventures and eight other investors also participated in this round.

Reworth, a developer of a financial platform for creating and offering rewards-based loyalty programs, closed a funding round of USD $2.80 million led by ALLVP, bringing the company to a valuation of USD $13.20 million.

YotePresto.com, an operator of an online lending marketplace that connects lenders with retail and institutional investors, closed a funding round for an undisclosed amount with Xylo Capital.

SkydropX, a developer of a logistics platform for the management and regulation of shipments in delivery processes, closed a funding round of USD $24.96 million with Cometa, Base10 Partners and 645 Ventures.

Neta Mx, an operator of a social e-commerce platform designed to bridge the gap between physical and online stores through social commerce, closed a funding round of USD $4.90 million led by Kaszek. Founders Fund, Next Play Ventures, Picus Capital, Graph Ventures and Alter Global also participated in this round.

Aura, an operator of a digital security platform, closed a funding round of USD $200.00 million led by Madrone Capital Partners, reaching a valuation of USD $2.30 billion. Warburg Pincus, Ten Eleven Ventures, General Catalyst, WndrCo and Accel also participated in this round.

Bamba, an operator of a digital platform designed to connect employers and workers with health, employment and financial services, closed a funding round for an undisclosed amount with Soldiers Field Angels.

GoTrendier, an operator of a second-hand clothing e-commerce platform, closed a funding round for an undisclosed amount with JME Venture Capital and Bonsai Partners.

Arthrex, a developer of nursing products designed to provide orthopedic surgical devices, closed a funding round of USD $100.00 million with undisclosed investors.

Vopero, an operator of an online retail platform designed to recirculate fashion, closed a funding round of USD $7.50 million led by Grupo Axo, ThredUp and Jaguar Ventures. Maria Raga and Luxor Capital Group also participated in this round.

Gemini, a developer of a cryptocurrency exchange and custody platform designed to buy, sell and store digital assets, closed a funding round for an undisclosed amount with Artfo Holdings.

Cityfurnish, a developer of a digital platform for furniture and home-appliance rental, closed a funding round for an undisclosed amount with Xylo Capital.

LoveLocal, a developer of a loyalty and marketing platform connecting brands and unorganized retailers with mass-market consumers in India, closed a funding round of USD $18.00 million led by Vulcan Capital. Also participating in this round were Henkel Tech Ventures, AC Ventures (Arca Continental), Flat Capital, Alumni Ventures Group, Candy Ventures, among others.

GIGI Benefits, a provider of full-time employment benefits such as insurance and savings for self-employed and independent workers in India, closed a funding round for an undisclosed amount with Xylo Capital.

AcknoLedger, a developer of a digital financial platform for NFT and Blockchain trading, closed a funding round of USD $1.53 million led by Mahadao, Nord Finance and Kangaroo Capital. Also participating in this round were SupraOracles, Oasis Capital, Amesten Capital and 24 other investors.

Foodology, an operator of digital restaurant brands focused on optimizing the food-processing experience within the kitchen, closed a funding round of USD $15.00 million led by Andreessen Horowitz and Base Partners. Also participating in this round were Jaguar Ventures, Kayyak Ventures and five other individual investors.

Latin American startup Clara, a financial-technology company offering corporate credit cards, a payments solution and an expense-management platform, announced that its corporate card offering will be backed by multinational Mastercard (NYSE: MA). In recent months, the company closed a funding round of nearly USD $40.00 million with various international investment funds and angel investors.

Clikalia, a developer of a real-estate sales platform, received financing of EUR €450.00 million. Of the total amount, EUR €400.00 million was received as a loan from Banco Santander and Deutsche Bank, and EUR €50.00 million in equity was received from Fifth Wall, Mouro Capital and other undisclosed investors.

Johnson Plastic Group, a provider of extrusion-engineering services integrating technology, knowledge and expertise in the manufacturing process, was acquired by Tekni-Plex, via Genstar Capital, through an LBO for an undisclosed amount.

Medallia, a software company operating a SaaS platform, was acquired by Thoma Bravo and Mubadala Investment Company, via Blackstone Credit, Apollo Capital Management, Thoma Bravo Credit, Antares Capital and Kohlberg Kravis Roberts, through an LBO for USD $6.40 billion.

Cloudera, an enterprise data cloud company, was acquired by Clayton, Dubilier & Rice and Kohlberg Kravis Roberts through an LBO for USD $5.30 billion.

Food Service Project, a franchise restaurant chain operator, received financing of EUR €110.80 million from Alsea and Bain Capital Credit.

Nubank, a provider of commission-free digital credit cards, filed an application to list on the New York Stock Exchange under the ticker symbol NU. The company's expected IPO is in early 2022.

Tofla Megaline, a provider of software development services for robotic devices, filed an application to list on the over-the-counter exchange under an undisclosed ticker symbol.

Nufi, a fintech solutions provider focused on building financial products, joined Techstars.

Basis Global Technologies, a digital media software developer, confidentially filed an application to list on the stock exchange.

Fondo Especial para Financiamientos Agropecuarios (BIVA: FEFA) conducted two public auction processes for market securities totaling MXN $400.00 million on the Bolsa Institucional de Valores (BIVA) through Casa de Bolsa BBVA México, Casa de Bolsa Citibanamex and Scotia Inverlat Casa de Bolsa.

Fideicomiso Hipotecario (BIVA: FHIPO14) conducted a public offering of short-term market securities for MXN $100.00 million on the Bolsa Institucional de Valores (BIVA) through Casa de Bolsa Banorte and Casa de Bolsa BBVA México.

Mexico's Mexarrend S.A.P.I. de C.V. (BIVA: MEXAMX) conducted a public offering of short-term market securities in the amount of MXN $82.00 million on the Bolsa Institucional de Valores (BIVA) through Vector Casa de Bolsa.

Mexico's Claro de América Móvil (BMV: AMXL) won one of the leading blocks for 5G telecommunications service in Brazil in an auction conducted by the Agência Nacional de Telecomunicações, for which it bid BRL R$420.00 million.

Lease For You (BIVA: LEAFUCB) conducted a public offering of market securities in the amount of MXN $250.00 million on the Bolsa Institucional de Valores (BIVA) through CIBanco.

Grupo Aeroportuario del Pacífico (BIVA: GAP) conducted two public offerings of market securities for a total amount of MXN $2,500.00 million on the Bolsa Institucional de Valores (BIVA) through Casa de Bolsa BBVA México, Casa de Bolsa Santander and Scotia Inverlat Casa de Bolsa.

Fideicomiso Hipotecario (BIVA: FHIPOCB) conducted a public offering of market securities in the amount of MXN $3,000.00 million on the Bolsa Institucional de Valores (BIVA) through Casa de Bolsa Banorte, Casa de Bolsa BBVA México and HSBC Casa de Bolsa.