M&A Newsletter — September 2023

Mexico's Cetelem (a subsidiary of BNP Paribas), a Sofom automotive-financing services provider based in Mexico City, reached a definitive agreement to be acquired by Grupo Financiero Inbursa (MEX: GFINBURO) for an undisclosed amount.

FlexClub México (a subsidiary of FlexClub), a provider of an automotive-financing service for Uber drivers in Mexico based in Guadalajara, Jalisco, was acquired by Asaak for an undisclosed amount.

Mexico's INVEX Controladora (MEX: INVEX) reached a definitive agreement to sell a 25.70% stake in Jaguar Solar, a portfolio of six photovoltaic parks of 216 MWp based in Chihuahua, to an undisclosed investor and for an undisclosed amount.

National Material of Mexico (a subsidiary of National Material), an operator of an independent service center and steel supplier to the automotive and industrial markets in North America based in Apodaca, Nuevo León, was acquired by Kloeckner Metals for USD $340.00 million.

Mexico's AMI Automation, a provider of automation and control solutions for the industrial sector based in Monterrey, Nuevo León, was acquired by Resonac Holdings (TKS: 4004) for an undisclosed amount.

Andercraft de México, an operator of an injection-molding plant based in Mexicali, Baja California, was acquired by Mission Plastics for an undisclosed amount.

A 31% stake in Radial Llantas, an operator of auto-parts stores based in Jalisco, was acquired by Marubeni (TKS: 8002) for an undisclosed amount. Following this transaction, Marubeni holds 80% of the company.

Virgin Mobile Latam, a mobile virtual network operator (MVNO) aimed at offering affordable data plans for young people in Latin America based in Ecatepec, Estado de México, was acquired by Beyond ONE for an undisclosed amount.

Mexico's Delt.ai, a developer of a digital bank designed to manage finances from transactions to records, based in Mexico City, was acquired by Albo for USD $20.00 million.

U.S.-based East Manufacturing, a manufacturer and supplier of trailers for the North American commercial-vehicle market based in Ohio, was acquired by Grupo Fultra for an undisclosed amount.

Two limestone-rich quarries based in Madrid, Spain, were acquired by Mexico's Cemex (MEX: CEMEXCPO) for an undisclosed amount. The acquisition will better position Cemex to serve customers in the area, particularly for infrastructure projects.

Sion Medical and Degasa reached a definitive agreement to acquire U.S.-based Richmond Dental & Medical (a subsidiary of Barnhardt Manufacturing), a North Carolina-based manufacturer of single-use dental products and dispensers, for an undisclosed amount.

U.S.-based Electric GT, a California-based manufacturer of propulsion systems, battery systems and components for electric vehicles (EVs), was acquired by Grupo Kuo (MEX: KUOA) for an undisclosed amount.

U.S.-based EZcale, a developer of a financial-services infrastructure-as-a-service (FaaS) platform designed to help companies streamline their financial operations, based in Florida, closed a funding round for an undisclosed amount with Avalancha Ventures.

U.S.-based Rhythmos, a developer of an algorithmic system designed to optimize the electric-mobility ecosystem, based in Colorado, closed a funding round for an undisclosed amount with Proeza Ventures.

Mexico's Digitt, a developer of intelligent fintech products and services designed to help people pay off their credit-card debt, based in Guadalajara, Jalisco, closed a funding round for an undisclosed amount with New Stack Ventures.

Sonoran Desert Copper (TSX: SDCU.V), a company focused on developing its portfolio of energy-metals projects based in Hermosillo, Sonora, closed a development-capital financing round of CAD $818,500.00 with Nexvu Capital and another undisclosed investor, through a private placement.

Mexico's Momento, an operator of an automotive-insurance platform based in Mexico City, closed a financing round of USD $10.50 million led by HSCM Ventures and Foundation Capital. Gilgamesh Ventures and other undisclosed investors also participated in this round.

Mexico's Veloz Bio, a developer of a rapid protein-production system based in Monterrey, Nuevo León, closed a financing round of USD $4.00 million with SOSV, IndieBio and GERBER-RAUTH.

Mexico's Leadsales, a developer of customer-relationship management (CRM) software based in Querétaro, closed a seed financing round of USD $3.70 million led by Ulu Ventures and BluePointe Ventures. Carabela, StartX and Latitud also participated in this round.

Mexico's Maqui, a developer of a B2B supply-chain and vendor-management platform based in Mexico City, closed a seed financing round of USD $1.50 million led by Marathon Ventures. Integra Group, NOA Capital, Nido Ventures, Kupier Capital and other undisclosed investors also participated in this round.

Mexico's Rintin, a developer of an online wholesale marketplace designed to connect independent small retailers with curated emerging brands based in Mexico City, closed a financing round for an undisclosed amount with LatinLeap and Newtopia VC.

Mexico's Paradero Todos Santos, an operator of luxury hotels and resort complexes based in Cabo San Lucas, Baja California Sur, closed a financing round for an undisclosed amount with Derive Ventures.

Mexico's ConfiAbogado, a developer of an artificial-intelligence-based platform for legal consulting-services search based in Mexico City, closed a seed financing round of USD $1.65 million led by Tuesday Capital. GAIN Capital and six other investors also participated in this round.

Mexico's Wonder Brands, a digital brand-building services provider based in Mexico City, closed a funding round of USD $15.50 million led by Nazca and the Inter-American Development Bank (IDB). CoVenture and other undisclosed investors also participated in this round.

Mexico's Metabase Q, a cybersecurity services provider focused on reducing security risk through agile and innovative technologies based in Mexico City, closed a funding round of USD $7.45 million led by SYN Ventures.

Israel's WINT, a developer of artificial intelligence-based water management technology based in Rosh Haayin, closed a funding round of USD $35.00 million led by Insight Partners and Inven Capital. LIP Ventures Boutique, Taronga Ventures and other undisclosed investors also participated in this round.

U.S.-based EMTECH, a developer of cloud-based software for central banks based in New York, closed a funding round of USD $9.78 million led by Matrix Partners India. XFactor Ventures, Gilgamesh Ventures, Level Up Ventures and 500 Startups LatAm, among others, also participated in this round.

Colombia's Autolab, a multi-brand automotive service center provider based in Bogotá, closed a funding round of USD $4.10 million led by Vertical Venture Partners and Haven Ventures. Polymath Ventures, Bullpen Capital, Proeza Ventures, Interplay and other undisclosed investors also participated in this round.

Mexico's Klar, an operator of a challenger bank designed to offer deposit and credit services to Mexican customers based in Mexico City, closed a funding round in the form of a credit facility of USD $100.00 million with Victory Park Capital.

Mexico's Alternativas en Riesgos (AER), an operator of insurance brokerage services for individuals and companies based in San Pedro Garza García, Nuevo León, was acquired by Sekura, through its financial sponsors Australis Partners and International Finance Corporation, via an LBO for an undisclosed amount.

Foli de México, a packaging and printing services provider for international brands based in Toluca, Estado de México, was acquired by GPA Global, through its financial sponsor Ontario Teachers' Pension Plan, via an LBO for an undisclosed amount.

Mexico's Ironbit, a Mexico City-based mobile-application developer offering digital solutions and IT services, was acquired by Babel Sistemas de Información, through its financial sponsor Aurica Capital, via an LBO for an undisclosed amount.

Comisión Federal de Electricidad (CFE) closed a financing round in the form of a credit facility for USD $333.60 million with J.P. Morgan and HSBC, with a 15-year term including five grace years and a guarantee from the Multilateral Investment Guarantee Agency (MIGA) of the World Bank Group. The proceeds will be used to rehabilitate and modernize seven hydroelectric plants.

Almacenadora Afirme (MEX: AFIRALM) carried out the placement of short-term market securities (certificados bursátiles) for MXN $344.12 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) for MXN $360.06 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) for MXN $33.20 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Base.

Grupo Carso (MEX: GCARSO) carried out the placement of short-term market securities (certificados bursátiles) for MXN $2,000.00 million on the Bolsa Mexicana de Valores (BMV) through Inbursa Casa de Bolsa.

Start Banregio (MEX: START) carried out the placement of short-term market securities (certificados bursátiles) for MXN $60.00 million on the Bolsa Mexicana de Valores (BMV) through Actinver Casa de Bolsa.

Financiera Bepensa (MEX: FINBE) carried out the placement of short-term market securities (certificados bursátiles) for 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.

Toyota Financial Services México (MEX: TOYOTA) carried out the placement of short-term marketable securities (certificados bursátiles) for MXN $599.10 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 marketable securities (certificados bursátiles) for MXN $1,010.00 million on the Bolsa Mexicana de Valores (BMV) through Scotia Inverlat Casa de Bolsa and Casa de Bolsa Banorte.

Paccar Financial México (MEX: PCARFM) carried out the placement of short-term marketable securities (certificados bursátiles) for MXN $961.70 million on the Bolsa Mexicana de Valores (BMV) through Scotia Inverlat Casa de Bolsa.

Navistar Financial (MEX: NAVISTS) carried out the placement of short-term marketable securities (certificados bursátiles) for MXN $283.27 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 marketable securities (certificados bursátiles) for MXN $2,027.71 million on the Bolsa Mexicana de Valores (BMV) through Scotia Inverlat Casa de Bolsa and Casa de Bolsa Banorte.

Volkswagen Leasing (MEX: VWLEASE) carried out the placement of short-term marketable securities (certificados bursátiles) for MXN $2,862.79 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México and Scotia Inverlat Casa de Bolsa.

Factoring Corporativo (MEX: FACTOR) carried out the placement of short-term marketable securities (certificados bursátiles) for MXN $140.00 million on the Bolsa Mexicana de Valores (BMV) through Vector Casa de Bolsa.

Mercader Financial (MEX: MERCFIN) carried out the placement of short-term marketable securities (certificados bursátiles) for MXN $100.00 million on the Bolsa Mexicana de Valores (BMV) through Intercam Casa de Bolsa and Casa de Bolsa Banorte.

Fideicomisos Instituidos en Relación con la Agricultura (FIRA) (MEX: FONDO) completed the placement of short-term fiduciary bond certificates for MXN $400.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México and Scotia Inverlat Casa de Bolsa.

Banco Actinver (MEX: BACTIN) completed the placement of short-term bond certificates for MXN $600.00 million on the Bolsa Mexicana de Valores (BMV) through Actinver Casa de Bolsa.

Banco Latinoamericano de Comercio Exterior (MEX: BLADEX) completed the placement of short-term bond certificates for MXN $250.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México.

Fondo Especial para Financiamientos Agropecuarios (BIVA: FEFA) completed the placement of fiduciary bond certificates for MXN $5,221.32 million on the Bolsa Institucional de Valores (BIVA) through Casa de Bolsa Santander, HSBC Casa de Bolsa and Scotia Inverlat Casa de Bolsa.

Mexico's Grupo Traxión (MEX: TRAXIONA), a distribution, logistics and ground-transportation services company based in Mexico City, raised MXN $4,944.08 million in its secondary public offering on the Bolsa Mexicana de Valores (BMV) under the ticker symbol TRAXIONA.

Australia's Woodside Energy, an oil and gas production operator based in Perth, in partnership with Petróleos Mexicanos (PEMEX), obtained approval of its extraction and investment plan for the Trión field from the Comisión Nacional de Hidrocarburos (CNH) for MXN $10,434.00 million.

Mexico's Corporación RICA, a bottler and distributor of the Industria Mexicana de Coca-Cola, carried out an investment of MXN $17.00 million for the generation and use of clean energy at its plant based in Mineral de la Reforma, Hidalgo.