An old piece about a new partner...
For those that are not aware... Hildebrando showed up on Identixs' partner page a couple of weeks ago...
23 January 2003
ADVENT INTERNATIONAL ACQUIRES MAJORITY STAKE IN HILDEBRANDO
Advent International, the global private equity firm, today announced that it has acquired a majority interest in Hildebrando, S.A. de C.V., an information technology systems and applications developer and integrator, for US$10 million. In addition, within 18 months of the transaction’s closing, Advent will provide an additional US$7 million to be used by Hildebrando for acquisitions.
Based in Mexico City, Hildebrando is the second-largest Mexican company of its kind operating in the country. Founded in 1986 by its current CEO, Diego Zavala, the company is an international technology consulting firm and a leader in Mexico’s IT sector. Hildebrando has expanded from applications development to include products such as systems development, systems integration, outsourcing services and systems consulting. It serves customers in the areas of financial services, media and telecommunications, government, chemicals, industrials, oil and retail.
“We believe that Hildebrando’s top-tier customer base, market position and role in this fast-growing industry will enable it to sustain the success it has enjoyed in recent years,” said Alfredo Alfaro, Director in Advent’s Mexico City office. He added that the Mexican IT services industry is one of the most dynamic sectors in the Mexican economy, growing eight times faster than the national GDP over the past six years, and that Hildebrando’s strong management team will be key to realizing the company’s expected growth.
“Hildebrando’s partnership with Advent will help us continue to grow by providing resources for acquisitions and for maintaining high levels of client service,” said Mr. Zavala.
Mr. Alfaro also noted that Hildebrando’s long-term relationships with its multinational corporate accounts have helped the company to become a key services supplier in Mexico. Hildebrando has provided IT systems maintenance and applications development services to Telefonos de Mexico (Telmex), a leading Mexican telecom, since 1990.
This relationship enabled the two companies to create a joint venture, Blitz Software, in 2001 with the purpose of becoming the exclusive provider of e-business systems applications for Telmex and other companies.
Advent is one of the most experienced private equity investors in Latin America. The firm has been operating in the region since 1996 and has 15 investment professionals with a total of over 80 years’ private equity experience and 40 years’ senior management experience. Based in Mexico City, São Paulo and Buenos Aires, the entirely local team focuses on buyouts of profitable, growing companies. The majority of capital for the Hildebrando investment came from Advent’s Latin America Private Equity Fund II (LAPEF II), which closed last July. At $265 million, LAPEF II is the largest private equity fund formed in Latin America in the last two years and brings the total capital managed by Advent in the region to approximately $500 million.
In 2001, LAPEF II completed the $32 million buyout of Imagen Fuera de Casa Comunicacion and operations of Anuncios y Servicios, creating the second-largest outdoor advertising company in Mexico. Advent’s prior Latin American fund (LAPEF I) invested in 15 companies throughout the region, including: Aeroboutiques, Mexico’s largest duty-free store chain, which floated on the Mexican stock exchange and was subsequently acquired by Grupo Areas of Spain; and Fumisa, which operates Latin America’s largest airport, the Mexico City International Airport.
About Advent International
Advent International is one of the world’s largest private equity firms, with $6 billion in cumulative capital raised and offices in 13 countries. The firm has over 90 investment professionals operating in North America, Europe, Latin America and Asia. Since its founding in 1984, Advent has financed over 500 companies and has helped businesses raise $10 billion through public equity and debt offerings. These include 128 IPOs on 20 stock exchanges worldwide. Advent is committed to helping management teams build successful businesses by applying its industry expertise, international resources and local market knowledge. For more information, visit www.adventinternational.com.
END
FOR FURTHER INFORMATION
Deal team
Alfredo Alfaro or Luis Solorzano (Mexico)
Tel: +52 55 5281 0303
aalfaro@mx.adventinternational.com
lsolorzano@mx.adventinternational.com
Marketing/PR
Paul Ferrari (Boston)
Tel: +1 617 951 9400
pferrari@adventinternational.com
adventinternational.pl
steve |
