M&A Newsletter — October 2023

Mexico's Urbvan, a developer of an intelligent daily-commute transportation system designed to offer a strategic route network and executive vans based in Mexico City, reached a definitive agreement to be acquired by Kolors for USD $9.50 million.

A 49.9% stake owned by Talos Energy (NYS: TALO), a petroleum-field operator based in Mexico City, was acquired by Grupo Carso (MEX: GCARSOA1) for USD $124.75 million.

Mexico's Banco Autofín México, a commercial banking-services provider based in Mexico City, was acquired by Kapital for MXN $50.00 million.

Mexico's Hipoteca Genial, a mortgage-services provider based in Mexico City, was acquired by Flat.mx for an undisclosed amount. This acquisition will allow Flat.mx to strengthen its mortgage credit advisory services.

Mexico's MásCaja, a Sociedad Financiera Popular (SOFIPO) dedicated to providing financial services for SMEs focused on the state of Guanajuato and based in León, was acquired by fintech Stori for an undisclosed amount.

Spain's Baldocer, a ceramic-products manufacturer based in Villafamés, reached a definitive agreement to be acquired by Grupo Lamosa (MEX: LAMOSA) for EUR €425.00 million.

Germany's Kiesel, a manufacturer and retailer of machinery and equipment for the construction industry based in Baienfurt, reached a definitive agreement to be acquired by CEMEX (MEX: CEMEXCPO) for an undisclosed amount.

Mexico's Doopla, a developer of a money-lending platform based in Mexico City, closed a crowdfunding round for USD $480,000.00 through Play Business.

Mexico's Allie Systems, a Mexico City-based developer of a workflow-automation software platform, closed a funding round of USD $2.30 million with Caravela Capital and other undisclosed investors.

Mexico's Blind Creator, a startup developer of an influencer and content-creator management platform, closed a pre-seed funding round of MXN $10.00 million led by Latitud and Ambrosía. Amador Holdings, Kuiper and 16 angel investors also participated in the round.

Mexico's Gabu, a Guadalajara, Jalisco-based developer of a video-game platform for children, joined Techstars as part of its Techstars Miami's Fall 2023 program and received funding of USD $20,000.00.

Mexico's Albo, a Mexico City-based developer of a financial platform designed to simplify the process of receiving and transferring money, closed a funding round of USD $40.00 million led by Morpheus Ventures. Nazca Capital and Valar Ventures also participated in the round.

Mexico's Colektia, a Mexico City-based developer of a digital-collections management platform, closed an acquisition funding round of USD $72.00 million with undisclosed investors.

Mexico's Syscap, a San Pedro Garza García, Nuevo León-based developer of a financial platform, closed a funding round of USD $2.30 million led by Wollef. Melek Capital, Redwood Ventures, 500 Global and Angel Hub also participated in the round.

Mexico's Verqor, a Mexico City-based developer of an agriculture-based financial software platform, closed a funding round of USD $3.90 million with undisclosed investors.

Mexico's Ukma, a sculpture manufacturer based in Naucalpan de Juárez, Estado de México, closed a seed funding round for an undisclosed amount with CANVAS Partners.

Mexico's GAIA, an e-commerce company specializing in furniture and home accessories, closed a funding round of USD $25.00 million led by SoftBank Latin America Fund.

U.S.-based Pixis, a developer of a no-code artificial intelligence (AI) infrastructure based in Chicago, closed a funding round of USD $85.00 million led by Touring Capital. Grupo Carso, General Atlantic, Chiratae Ventures India Advisors, Celesta Capital and other undisclosed investors also participated in this round.

U.S.-based Félix, a developer of a money-transfer platform based in San Francisco, closed a funding round of USD $13.15 million led by Switch Ventures, reaching a pre-money valuation of USD $7.32 million. Wollef, H20 Capital Innovation and MELI Capital, among others, also participated in this round.

U.S.-based Erudit, a developer of an employee-burnout detection platform based in Miami, closed a funding round of USD $10.00 million led by True Blue Partners, Fondo Bolsa Social, Athos Capital, Conexo Ventures and IGNIA Partners.

Mexico's Fuddis, a developer of a food commercial network based in Guadalajara, Jalisco, joined Techstars as part of its Techstars Miami's Fall 2023 program and received financing in the form of convertible debt of USD $100,000.00.

Mexico's 123 Lease, an automotive-leasing services provider based in Mexico City, closed a debt funding round with an undisclosed investor for USD $30.00 million.

U.S.-based Ceres Terminals, a terminal-services provider focused on general cargo and container management based in Tennessee, was acquired by Carrix, through its financial sponsors Blackstone and Promecap, via an LBO for an undisclosed amount.

Spain's DAF Erp, a developer of business-management software for SMEs based in Barcelona, reached a definitive agreement to be acquired by Business Software Group, through its financial sponsor ALZA Capital Partners, via an LBO for an undisclosed amount.

Almacenadora Afirme (MEX: AFIRALM) carried out the placement of short-term market securities for MXN $1,145.64 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 for MXN $594.71 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 for MXN $11.21 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 for MXN $134.00 million on the Bolsa Mexicana de Valores (BMV) through Vector Casa de Bolsa.

Toyota Financial Services México (MEX: TOYOTA) carried out the placement of short-term market securities for MXN $380.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México and Scotia Inverlat Casa de Bolsa.

Ford Credit de México (MEX: FORD) carried out the placement of short-term market securities for MXN $920.00 million on the Bolsa Mexicana de Valores (BMV) through Scotia Inverlat Casa de Bolsa and Casa de Bolsa Banorte.

Navistar Financial (MEX: NAVISTS) carried out the placement of short-term market securities for MXN $250.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México and Scotia Inverlat Casa de Bolsa.

GM Financial de México (MEX: GMFIN) carried out the placement of short-term market securities for MXN $1,600.00 million on the Bolsa Mexicana de Valores (BMV) through Scotia Inverlat Casa de Bolsa and Casa de Bolsa Banorte.

Volkswagen Leasing (MEX: VWLEASE) 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.

Fideicomisos Instituidos en Relación con la Agricultura (FIRA) (MEX: FONDO) completed the placement of short-term fiduciary market securities (certificados bursátiles fiduciarios) in the amount of MXN $900.00 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 market securities (certificados bursátiles) in the amount of MXN $200.00 million and long-term market securities in the amount of MXN $2,000.00 million on the Bolsa Mexicana de Valores (BMV) through Scotia Inverlat Casa de Bolsa.

Volaris (MEX: VOLARCB) completed the placement of fiduciary market securities (certificados bursátiles fiduciarios) in the amount of MXN $1,500.00 million on the Bolsa Mexicana de Valores (BMV) through Actinver Casa de Bolsa and Casa de Bolsa BBVA México.

Start Banregio (MEX: START) completed the placement of short-term market securities (certificados bursátiles) in the amount of MXN $170.00 million on the Bolsa Mexicana de Valores (BMV) through Actinver Casa de Bolsa.

Arrendadora Actinver (MEX: ARREACT) completed 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.

Financiera Bepensa (MEX: FINBE) completed 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, Casa de Bolsa Banorte and Intercam Casa de Bolsa.

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

Banco Latinoamericano de Comercio Exterior (MEX: BLADEX) carried out the placement of short-term market securities (certificados bursátiles) for MXN $312.25 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México.

Corporación AGF (MEX: CORAGF) carried out the placement of long-term market securities (certificados bursátiles) for MXN $2,000.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México.

Sofoplus (BIVA: SFPLUS) carried out the placement of short-term market securities (certificados bursátiles) for MXN $170.00 million on the Bolsa Institucional de Valores (BIVA) through Casa de Bolsa Ve Por Más, Vector Casa de Bolsa and Intercam Casa de Bolsa.

Banco Centroamericano de Integración Económica (BIVA: CABEI) carried out the placement of medium-term notes at variable and fixed rates for MXN $10,000.00 million on the Bolsa Institucional de Valores (BIVA) through Casa de Bolsa Banorte and HSBC Casa de Bolsa.

Banco Compartamos (BIVA: COMPART) carried out the placement of long-term bank market securities (certificados bursátiles bancarios) for MXN $3,000.00 million on the Bolsa Institucional de Valores (BIVA) through Actinver Casa de Bolsa, Casa de Bolsa Banorte and Casa de Bolsa BBVA México.

Mexico's Tofla Megaline (PINX: TFLM), a development-stage company seeking to develop software for security systems based in Mexico City, completed its initial public offering on the over-the-counter (OTC) market under the ticker TFLM.

Taiwan's Foxconn, a multinational contract electronics manufacturer based in New Taipei, carried out an investment of USD $500.00 million in the state of Chihuahua for the relocation of two new plants based in Ciudad Juárez.

Mexico's Grupo Posadas and Grupo Xtra, two groups focused on the hotel and real-estate sectors, respectively, announced an investment of USD $300.00 million for the construction of two hotels in Cancún, Quintana Roo, under the Live Aqua and Grand Fiesta Americana brands.

U.S.-based Keller Williams, an international real-estate and technology franchise based in Texas, introduced its sustainable residential and commercial project La Santa Vid, based in San Miguel de Allende, Guanajuato, with an investment of MXN $1,500.00 million.

Heineken México (a subsidiary of Heineken International), a brewery based in Nuevo León, announced an investment of MXN $8,700.00 million in a new plant based in Kanasín, Yucatán, with construction set to begin in early 2024 and production in 2026.

Mexico's Grupo Helvex, a manufacturer of faucets and bath and kitchen accessories based in Mexico City, announced an investment of USD $15.00 million over the next 18 months for the purchase of machinery and the development of new industrial processes.

U.K.-based multinational Reckitt, in partnership with Fundación Walmart México and Agua Capital, announced an investment of MXN $65.00 million for the initiative "Mantengamos a nuestros niños en la escuela", which seeks to address water scarcity in public schools in vulnerable areas.