M&A Newsletter — October 2024

Mexico's FEMSA (MEX: FEMSAUBD), operator of Oxxo convenience stores and a Coca-Cola bottler headquartered in Mexico City, reached a definitive agreement with U.S.-based AMMI, a subsidiary of Milenio Capital, to divest its plastics operations. The transaction amount was MXN $3,165.00 million.

Antea México, a subsidiary of Spain's Antea Consulting, a cybersecurity and technology-optimization services firm based in Mexico City, reached a definitive agreement to be acquired by Spain's Knowmad Mood, for an amount of USD $10.70 million.

Mexico's Grupo Bimbo (MEX: BIMBOA) reached a definitive agreement to acquire Slovakia's Don Don Group, a distributor of bakery products across multiple European countries, for an undisclosed amount.

Mexico's Pinion Education, a developer of a teaching-improvement platform based in Mexico City, reached a definitive agreement to be acquired by Sapiens Capital. The transaction amount was not disclosed.

U.K.-based Inclusive Energy, a provider of energy-metering devices focused on renewable technologies, reached a definitive agreement to be acquired by Mexico's Sistema.bio, a renewable-energy developer focused on agriculture. The transaction amount was not disclosed.

Mexico's Goanna Resources, an operator of 16 mining exploitation rights, reached a definitive agreement to be acquired by Vizsla Silver in a transaction valued at USD $10.00 million.

Mexico's Mister Ice, a provider of ice for personal consumption based in Jalisco, reached a definitive agreement to be acquired by Aguafría, a subsidiary of U.S.-based Reddy Ice, for an undisclosed amount.

Ecuador's Kushki, a payment-platform provider, and JP Morgan Payments, the division of JP Morgan that provides payment solutions to businesses, announced a joint venture to deliver payment solutions targeting companies and consumers across Latin America.

Mexico's Jüsto, an online supermarket platform based in Mexico City, closed a funding round of USD $70.00 million. Of the total transaction, USD $20.00 million was raised in debt from HSBC (MEX: HBCN) and USD $50.00 million in equity from undisclosed investors.

Mexico's Grupo México Transportes (MEX: GMT), a subsidiary of Grupo México (MEX: GMEXICOB), a cargo-services provider based in Mexico City, reached a definitive agreement to acquire a 60% stake in Ferrobuque, for an amount of USD $68.00 million.

Mexico's Tecnología en Cuentas por Cobrar (CxC), a developer of an audit, asset-management and valuation services platform based in Mexico City, closed an equity funding round with Kaszek, for USD $32.60 million.

U.S.-based Sapien, a developer of an artificial-intelligence-powered business data-analytics platform, closed a funding round of USD $15.50 million with Variant, Primitive Ventures and other undisclosed investors.

Israel's Kando, a provider of efficient waste-management systems, closed a funding round of USD $10.00 million with Aliaxis Next, Ram Control Financing and Investments and D.C. Thomson.

U.S.-based Third Dimension, a developer of an artificial-intelligence platform focused on tools for content creators, closed a funding round with Felicis, Soma Capital, Abstract Ventures and other investors. The transaction amount was USD $7.00 million.

Mexico's Ola Media, an operator of a digital-advertising platform based in Mexico City, closed a funding round with Plaza Ventures for USD $1.60 million.

Mexico's Nunnas, a provider of nursing services that connects personnel with hospitals based in Mexico City, closed a pre-seed funding round with Polymath Ventures for an undisclosed amount.

Mexico's TecnoMotum, a logistics-services provider based in Veracruz, closed a funding round with Cerralvo Capital for an undisclosed amount.

Mexico's Go Trendier, operator of a Mexico City-based second-hand clothing sales platform, closed a financing round with Squirrel Media for an undisclosed amount.

Mexico's My travel agency, operator of a Mexico City-based international travel-planning platform, closed a financing round with Lion Ventures for an undisclosed amount.

Mexico's Secure Commerce, operator of a Mexico City-based artificial-intelligence platform focused on e-commerce transaction security to prevent fraud and cyberattacks, closed a financing round with Alacrity. The transaction amount was not disclosed.

Mexico's Rutopía, operator of a Mexico City-based tourism platform focused on ecology and culture, closed a financing round with Edea Foundation. The transaction amount was not disclosed.

Mexico's Saptiva, operator of a Mexico City-based artificial-intelligence platform for the automation of various business processes, closed a financing round with DCG Expeditions, Crucible Capital, A16zScoutFund, among others. The transaction amount was not disclosed.

Mexico's Sistema.bio, a Mexico City-based sustainable-agriculture services provider, closed a financing round for USD $19.25 million with Engie Energy, ElectriFI and approximately 18 undisclosed investors. Of the total transaction amount, USD $4.25 million was raised in the form of convertible debt.

Mexico's B-collection, a Mexico City-based home-goods provider, reached a definitive agreement to be acquired by Roca Ventures through a leveraged buyout (LBO) for an undisclosed amount.

Mexico's Ollin Plastics, a Nuevo León-based provider of custom plastic parts and components, reached a definitive agreement to be acquired by Rotovia through its various financial sponsors. The transaction was a leveraged buyout (LBO) for an undisclosed amount.

U.S.-based TACNA Services, a provider of services to facilitate companies' overseas operations (nearshoring services), reached a definitive agreement to be acquired by Arvo Partners in a leveraged buyout (LBO). The transaction amount was not disclosed.

U.S.-based Tactical Safety, a provider of safety and rescue services for companies, reached a definitive agreement to be acquired by Sentry Safety Solutions, through its financial sponsors Mitchell Capital and Evolution Strategy Partners, in a leveraged buyout (LBO). The transaction amount was not disclosed.

Almacenadora Afirme (MEX: AFIRALM) completed the placement of short-term market securities (certificados bursátiles de corto plazo) in the amount of MXN $3,589.04 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Base.

Arrendadora Afirme (MEX: AFIRMAR) completed the placement of short-term market securities (certificados bursátiles de corto plazo) in the amount of MXN $649.42 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Base.

Afirme banco de inversión (MEX: BIAFIRM) completed the placement of short-term market securities (certificados bursátiles de corto plazo) in the amount of MXN $150.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA.

Financiera Bepensa (MEX:FINBE) completed the placement of short-term market securities (certificados bursátiles de corto plazo) in the amount of MXN $960.14 million on the Bolsa Mexicana de Valores (BMV) through brokerage houses Banorte and Intercam.

Grupo Hycsa (MEX:HYCSA) completed the placement of short-term market securities (certificados bursátiles de corto plazo) in the amount of MXN $100.00 million on the Bolsa Mexicana de Valores (BMV) through brokerage houses Banorte and Actinver Casa de bolsa.

Grupo Minsa (MEX:MINSAB) completed the placement of short-term market securities (certificados bursátiles de corto plazo) in the amount of MXN $138.00 million on the Bolsa Mexicana de Valores (BMV) through brokerage houses Banorte and Actinver Casa de bolsa.

Arrendadora Actinver (MEX: ARREACT) carried out the placement of short-term market securities for MXN $300.00 million on the Bolsa Mexicana de Valores (BMV) through Actinver Casa de Bolsa.

El Instituto del Fondo Nacional para el Consumo de los Trabajadores carried out the placement of a trust for MXN $3,700.00 million through Inverlat Casa de Bolsa.

Comisión Federal de Electricidad (CFE) carried out the placement of short-term market securities for MXN $2,365.61 million on the Bolsa Mexicana de Valores (BMV) through Inverlat and BBVA Casa de Bolsa.

América Móvil (MEX: AMX) carried out the placement of short-term market securities for MXN $1,472.71 million through Casa de Bolsa BBVA, Inbursa and Inverlat Casa de Bolsa.

Ford Credit de México (MEX: FORD) carried out the placement of short-term market securities for MXN $2,547.00 million on the Bolsa Mexicana de Valores (BMV) through Scotia Inverlat Casa de Bolsa and Casa de Bolsa Banorte.

GM Financial de México (MEX: GMFIN) carried out the placement of short-term market securities for MXN $4,237.37 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 $1,025.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México and Scotia Inverlat Casa de Bolsa.

Xignux S.A. de C.V. (MEX: XIGNUX) carried out the placement of short-term market securities for MXN $7,000.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México, Banorte and Scotia Inverlat Casa de Bolsa.

Autlán Compañía minera (AUTLÁN) carried out the issuance of short-term market securities for MXN $50.00 million on the Bolsa Mexicana de Valores (BMV) through Actinver Casa de Bolsa and Intercam Casa de Bolsa.

NR Finance (MEX: NRF) carried out the issuance of short-term market securities for MXN $1,191.37 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México.

Factoring Corporativo (MEX: FACTOR) carried out the issuance of short-term market securities for MXN $183.76 million on the Bolsa Mexicana de Valores (BMV) through Vector Casa de Bolsa.

Paccar Financial México (MEX: PCARFM) carried out the issuance of short-term market securities for MXN $2,104.00 million on the Bolsa Mexicana de Valores (BMV) through Scotia Inverlat Casa de Bolsa.

Scotia Inverlat (MEX: SCOTIAB) carried out the issuance of long-term market securities for MXN $8,563.55 million on the Bolsa Mexicana de Valores (BMV) through Scotia Inverlat Casa de Bolsa.

Ruba Inmobiliaria (MEX: RUBA) carried out the issuance of short-term market securities for MXN $265.71 million on the Bolsa Mexicana de Valores (BMV) through Actinver Casa de Bolsa.

Start Banregio (MEX: START) carried out the issuance of short-term market securities for MXN $1,150.00 million on the Bolsa Mexicana de Valores (BMV) through Actinver Casa de Bolsa.

Toyota Financial Services México (MEX: TOYOTA) carried out the issuance of short-term market securities for MXN $510.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México and Scotia Inverlat Casa de Bolsa.

Value Arrendadora completed the placement of short-term market securities in the amount of MXN $500.00 million on the Bolsa Mexicana de Valores (BMV) through Value Casa de Bolsa.

Volkswagen Leasing (MEX: VWLEASE) completed the placement of short-term market securities in the amount of MXN $3,948.82 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México and Scotia Inverlat Casa de Bolsa.

Mexico's Grupo Xcaret, a provider of a broad range of tourism services based in Quintana Roo, announced its plan to expand its hotel capacity. The amount is estimated at USD $700.00 million.

Mexico's IMMSA, a steel-structure manufacturer headquartered in Monclova, inaugurated an operational plant in Coahuila following an investment of USD $500.00 million.

Mexico's Walmex, a subsidiary of U.S.-based Walmart (NYSE: WMT), announced investment plans of USD $500.00 million to build a new distribution center in Guanajuato.

China's Shandong Golden Empire Precision Machinery Technology inaugurated a new operational plant in San Luis Potosí. The investment amount was USD $165.00 million.

China's Grand Top Sun, an auto-parts supplier, announced the construction of a new operational plant in Guanajuato. The investment is estimated at USD $55.00 million.

South Korea's LG Electronics, a provider of home appliances, consumer electronics, communications equipment and auto parts, inaugurated a new operational plant in Coahuila following an investment of MXN $1,200.00 million.

U.K.-based AstraZeneca, a pharmaceutical company with operations in 100 countries, announced its plans to invest in corporate offices in Mexico City and the renovation of its technology center in Guadalajara. The investment amount is estimated at MXN $900.00 million.

Spain's ITP AERO, an aircraft propulsion systems manufacturer, expanded its production plant in Querétaro following an investment of MXN $580.00 million.

Mexico's Mexstamp, a metal molding, die-cutting and stamping provider based in Aguascalientes, announced its plan to build a second plant in the same state. The amount is estimated at MXN $70.00 million.