M&A Newsletter — October 2022

We would like to congratulate Grupo TRACSA — an authorized Caterpillar dealer and provider of equipment and heavy machinery for the construction, infrastructure, agriculture and mining sectors — on the acquisition of Okila, S.A. de C.V. — a leading importer and wholesale distributor of products and accessories for the welding industry in Mexico. We thank our clients and friends at Okila for the trust placed in CFSM – Corporate Finance Services Mexico for allowing us to represent them as exclusive financial advisors in this transaction.

A 15% stake in Corporación Actinver (MEX: ACTINVERB), a financial-services holding company based in Mexico City, was acquired by ACON Investments through a private placement for an undisclosed amount.

Seven wheat mills based in Mexico owned by U.S.-based Bunge (NYS: BG), a Missouri-based company specializing in the agro-industrial sector, were acquired by Grupo Trimex for an undisclosed amount.

Mexico's Grupo ROSGO reached a definitive agreement to acquire the Minera Oro Silver project based in Zacatecas, Mexico, owned by Endeavour Silver (NYS: EXK), for USD $5.00 million.

Canada's Agnico Eagle Mines (TSE: AEM) and Canada's Teck Resources (TSE: TECK.B) reached a definitive agreement to form a joint venture to carry out operations at Minas de San Nicolás, a copper and zinc project based in Zacatecas, Mexico. The agreement includes AEM's acquisition of a 50% stake in the project for USD $580.00 million.

Mexico's Planigrupo (MEX: PLANI), a company dedicated to the development, design, construction, leasing, operation and management of shopping centers in Mexico, reached a definitive agreement to be acquired by Grupo México (MEX: GMEXICOB) for MXN $4,700.00 million.

Umvel, a Mexico City-based developer and designer of digital product services for enterprises, reached a definitive agreement to be acquired by NTT Data (TKS: 9613) (a subsidiary of NTT DoCoMo) for an undisclosed amount.

Mexico's PCE Technology de Juárez, an electronic-components manufacturer based in Chihuahua, was acquired by ECMMS Precision Singapore (a subsidiary of Foxconn Technology (TAI: 2354)) for USD $361.00 million.

Mexico's VC Laminations, a Querétaro-based manufacturer of electrical-steel lamination stampings for the electrical and power-generation markets, reached a definitive agreement to be acquired by Lapham-Hickey Steel for an undisclosed amount.

Mexico's Drypro, a Zapopan, Jalisco-based designer and manufacturer of PVC work boots for the food industry, was acquired by Delta Plus Group (PAR: ALDLT) for an undisclosed amount.

Mexico's Bajo Cero Frigoríficos, a Villagrán, Guanajuato-based provider of storage services focused on the safe handling and warehousing of food products, was acquired by Emergent Cold Latin America for an undisclosed amount.

Mexico's New Transport Applications, a Tlalnepantla de Baz, México-based provider of logistics services for the pharmaceutical and healthcare sectors, was acquired by DHL Supply Chain for an undisclosed amount.

Mexico's Polímeros Especiales, a Cuautitlán Izcalli, México-based manufacturer of emulsion polymers for the architectural, textile and construction markets, was acquired by Arkema (PAR: AKE) for an undisclosed amount.

Mexico's V Modal, a Querétaro-based provider of logistics-coordination services, was acquired by Grupo Traxión (MEX: TRAXIONA) for MXN $102.50 million.

Mexico's Hospital H+, a Mexico City-based operator of a hospital chain focused on providing specialized healthcare services, was acquired by Hospitales MAC for an undisclosed amount.

A 9.9% stake in U.S.-based Nordstrom (NYS: JWN), a fashion retailer operating approximately 100 department stores across the U.S. and Canada headquartered in Seattle, was acquired by El Puerto de Liverpool (MEX: LIVEPOL) through a private placement for USD $293.80 million.

Heru, a Mexico City-based developer of a platform designed to provide digital independent contracts, closed a seed funding round of USD $6.00 million led by Gradient Ventures. Flourish Ventures, Magma Partners, Soma Capital, Gfc, and Moving Capital, among others, also participated in this round.

Mexico's Plerk, a Guadalajara-based developer of a platform designed to schedule and manage business travel, closed a funding round of USD $12.03 million led by Upload Ventures. Magma Partners, 500 Global, and MGV Capital Group, among other angel investors, also participated in this round.

Mexico's Draftea, a Mexico City-based operator of a daily fantasy sports platform for the Spanish-speaking community, closed a funding round of USD $20.00 million led by StepStone Group. Mantis VC, NFL Players Association, NNS, The 21 Fund, and Olive Tree Capital, among others, also participated in this round.

Mexico's Crecy, a Mexico City-based provider of a cryptocurrency-backed credit card designed to offer alternative credit for independent workers, closed a funding round of USD $633,000.00 led by Capem, 500 Global, and Mucker Capital. Platanus Ventures and other angel investors also participated in this round.

DolarApp, a developer of a financial application designed to provide access to U.S. dollars for people across Latin America, closed a funding round of USD $5.00 million led by Kaszek and Y Combinator.

Mexico's R2, a Mexico City-based provider of embedded financial services for SMEs, closed a funding round of USD $15.00 million led by Gradient Ventures. FEMSA Ventures, PayU, Magma Partners, General Catalyst, and 166 2nd also participated in this round.

WND Group, a Mexico City-based developer of an Internet of Things network utilizing low-power wide-area network technology, closed a funding round for an undisclosed amount with L Marks.

Mexico's Cybolt, a Mexico City-based provider of cybersecurity consulting solutions, closed a growth funding round for an undisclosed amount with BOCEL Private Equity.

Mexico's Sherpa Brokers, developer of an investment platform designed to facilitate and democratize access to investments for people across Latin America, closed a pre-seed financing round in the form of SAFE notes for USD $2.50 million with an undisclosed investor.

U.S.-based Random Games, operator of a video-game development platform based in Colorado, closed a seed financing round of USD $7.60 million led by Resolute Ventures and Asymmetric Fund. Polygon, IGNIA Partners, 2 Punks Capital, ID345 and Dave Jones, among others, also participated in this round.

Spain's Crop Salsa, a producer of customized sauces for the food and catering industry based in Madrid, closed a development financing round for an undisclosed amount with ALZA Capital Partners.

U.S.-based Flourish, developer of a digital engagement-and-rewards software based in California, is in the process of closing a financing round for an undisclosed amount with Amplifica Capital and other undisclosed investors.

U.S.-based Genobank.io, developer of a DNA kit designed to keep a record of all gene datasets and reports based in California, closed a financing round for an undisclosed amount with Omica.bio.

U.S.-based Boopos, a business-financing provider based in Florida, closed a financing round of USD $58.00 million through a combination of debt and equity led by Bonsai Partners. K Fund, NOA Capital, Actyus, Fasanara Capital and other undisclosed lenders also participated in this round.

Hitter Brands, a Foodtech startup with operations in Mexico and Colombia, closed a funding round of USD $1.00 million with Angel Ventures, Simón Borrero, Sebastián Mejía and Ali Jamal, among other angel investors.

Mexico's Kavak, operator of a used-car commerce platform based in Lerma de Villada México, closed a debt financing round in the form of a loan of USD $810.00 million with HSBC Holdings, Santander US and The Goldman Sachs Group.

Mexico's Clip, developer of a digital payments platform designed to help businesses increase their sales and grow their operations based in Mexico City, closed a debt financing round in the form of an unsecured revolving credit facility of USD $50.00 million with J.P. Morgan, Morgan Stanley and HSBC Bank UK.

Vivanuncios and Segunda Mano, operators of two online real-estate platforms based in Mexico City, were acquired by Navent Group through its financial sponsor QuintoAndar, via an LBO for an undisclosed amount.

U.S.-based Blackbaud, a developer of fund management and donor-management software based in South Carolina, reached a definitive agreement to sell its FIMS and DonorCentral NXT products to NPact via its financial sponsors Riviera Capital Partners, Saltoun Capital Partners, The Cambria Group and ALZA Capital Partners, through an LBO for an undisclosed amount.

U.S.-based Flower Kingdom, a provider of floral arrangements, plants and gifts based in Florida, was acquired by Mexico's Klis Capital through an LBO for an undisclosed amount.

Petróleos Mexicanos (MEX: PEMEX), a Mexican state-owned oil and natural-gas producer and distributor, is in the process of closing a financing round of USD $1,000.00 million in the form of a green bond with HSBC and Goldman Sachs Group.

Almacenadora Afirme (MEX: AFIRALM) carried out the placement of short-term market securities (certificados bursátiles de corto plazo) totaling MXN $3,369.07 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) totaling MXN $321.63 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Base.

Start Banregio (MEX: START) carried out the placement of short-term market securities (certificados bursátiles de corto plazo) totaling MXN $590.00 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 de corto plazo) totaling MSN $2,600.00 million on the Bolsa Mexicana de Valores (BMV) through Scotia Inverlat Casa de Bolsa and Casa de Bolsa Banorte.

Paccar Financial México (MEX: PCARFM) completed the placement of short-term market securities (certificados bursátiles de corto plazo) in the amount of MXN $935.00 million on the Bolsa Mexicana de Valores (BMV) through Scotia Inverlat Casa de Bolsa.

Navistar Financial (MEX: NAVISTS) completed the placement of short-term market securities (certificados bursátiles de corto plazo) in the amount of MXN $390.00 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 market securities (certificados bursátiles de corto plazo) in the amount of MXN $2,997.89 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México.

Corporativo GBM (MEX: GBM) completed the placement of long-term market securities (certificados bursátiles de largo plazo) in the amount of MXN $900.00 million on the Bolsa Mexicana de Valores (BMV) through Grupo Bursátil Mexicano, Casa de Bolsa.

Banca Afirme (MEX: BAFIRME) completed the placement of subordinated capital notes (obligaciones subordinadas de capital) in the amount of MXN $402.50 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México.

Banco de Inversión Afirme (MEX: BIAFIRM) completed the placement of subordinated capital notes (obligaciones subordinadas de capital) in the amount of MXN $172.50 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México.

Banco Actinver (MEX: BACTIN) completed the placement of bank market securities (certificados bursátiles bancarios) in the amount of MXN $1,000.00 million on the Bolsa Mexicana de Valores (BMV) through Actinver Casa de Bolsa.

Fibra Mty (MEX: FMTY 14) completed the placement of real estate investment trust certificates (CBFIs) in the amount of MXN $3,450.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México, Actinver Casa de Bolsa, Scotia Inverlat Casa de Bolsa, BTG Pactual Casa de Bolsa and Grupo Bursátil Mexicano, Casa de Bolsa.

Toyota Financial Services México (MEX: TOYOTA) carried out the issuance of short-term market securities (certificados bursátiles de corto plazo) for MXN $332.83 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México and Scotia Inverlat Casa de Bolsa.

Arrendadora Actinver (MEX: ARREACT) carried out the issuance of short-term market securities (certificados bursátiles de corto plazo) for MXN $107.92 million on the Bolsa Mexicana de Valores (BMV) through Actinver Casa de Bolsa.

Factoring Corporativo (MEX: FACTOR) carried out the issuance of short-term market securities (certificados bursátiles de corto plazo) for MXN $52.00 million on the Bolsa Mexicana de Valores (BMV) through Vector Casa de Bolsa.

ION Financiera (MEX: ION) carried out the issuance of short-term market securities (certificados bursátiles de corto plazo) for MXN $50.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Base.

The Estado de México (MEX: EDOMEX) carried out the issuance of market securities (certificados bursátiles) for MXN $2,890.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Banorte, Casa de Bolsa BBVA México and Scotia Inverlat Casa de Bolsa.

Banco Latinoamericano de Comercio Exterior (MEX: BLADEX) carried out the issuance of short-term market securities (certificados bursátiles de corto plazo) for MXN $124.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México.

Financiera Bepensa (MEX: FINBE) carried out the issuance of short-term market securities (certificados bursátiles de corto plazo) for MXN $344.49 million on the Bolsa Mexicana de Valores (BMV) through Actinver Casa de Bolsa and Casa de Bolsa Banorte.

Autovía Necaxa – Tihuatlán (MEX: AUNETCB) carried out the issuance of long-term fiduciary market securities (certificados bursátiles fiduciarios de largo plazo) for MXN $8,000.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Santander.

Corporación Interamericana de Inversiones (BIVA: BIDINV1) completed the placement of medium-term notes (certificados bursátiles) in the amount of MXN $2,500.00 million on the Bolsa Institucional de Valores (BIVA) through Casa de Bolsa Santander and Scotia Inverlat Casa de Bolsa.

Arrendadora Actinver (MEX: ARREACT) completed the placement of short-term notes (certificados bursátiles de corto plazo) in the amount of MXN $740.00 million on the Bolsa Institucional de Valores (BIVA) through Actinver Casa de Bolsa.

Sofoplus (BIVA: SFPLUS) completed the placement of short-term notes (certificados bursátiles de corto plazo) in the amount of MXN $165.00 million on the Bolsa Institucional de Valores (BIVA) through Casa de Bolsa Ve por Más.

Grupo Aeroportuario del Pacífico (BIVA: GAP) completed the placement of long-term notes (certificados bursátiles de largo plazo) in the amount of MXN $2,757.58 million on the Bolsa Institucional de Valores (BIVA) through Casa de Bolsa BBVA México, Casa de Bolsa Santander and Scotia Inverlat Casa de Bolsa.

Mexico's Alsea (MEX: ALSEA) announced an investment of MXN $4,500.00 million over the next four years, with the objective of expanding Starbucks' presence in the country. The proceeds will be allocated to the opening of new units as well as the remodeling of existing ones.

Mexico's Grupo Bimbo (MEX: BIMBO) announced the acquisition of one thousand electric delivery vehicles for its fleet in Mexico, of which 500 will be allocated to distribution operations at Bimbo and 501 to Barcel.

Mexico's Médica Santa Carmen, an operator of a network of clinics specializing in renal health, signed a partnership with Centro Médico ABC, based in Santa Fe México, with the objective of opening and operating a new hemodialysis clinic within the hospital.

Japan's Daikin, a multinational specializing in the heating, ventilation and air conditioning industry, announced an investment of USD $300.00 million for the opening of its second plant based in San Luis Potosí.

Mexico's Estafeta, a courier and parcel-delivery company, completed the acquisition of 100% electric vehicles to operate in last-mile delivery services in Mexico City, with an investment of MXN $42.00 million.

Mexico's Solarever Group, a solar-panel manufacturer, announced an investment of USD $1,000.00 million over the next four years for the development of an industrial facility based in the Centro Logístico de Zacoalco de Torres, with the objective of producing batteries for electric vehicles in Jalisco, Mexico.

Germany's Bosch, a multinational specializing in the mobility, consumer goods, industrial technology, and energy and building technology sectors, announced an investment of MXN $4,300.00 million for the construction of a new plant based in Querétaro, Mexico, dedicated to the manufacturing of components for mobile applications.

Brazil's Flapper, operator of a flight application that allows users to book or charter executive aircraft and helicopters within minutes, commenced operations in Mexico with an investment of USD $1.00 million.

South Korea's Kia Motors, an automotive multinational with operations across the American, European and Asian continents, announced an investment of USD $408.00 million for the construction of five industrial facilities in Nuevo León, Mexico.

Mexico's Deacero, a steelmaking conglomerate producing long steel, wire rod and reinforcing steel, announced an investment of MXN $12,000.00 million in the country. The proceeds will be allocated to increase and improve production at its steelworks and to strengthen sustainability and environmental processes.

Mexico's DD3 Acquisition Corp. III, operator of a SPAC based in Mexico City, withdrew its application to list on the Nasdaq under the ticker DIIIU, filed in March 2021.