Advent Morro Equity Partners Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Advent Morro Equity Partners has invested in 4 companies.

Advent Morro Equity Partners’ most common sectors for investment arebeverages (15%) and financial services (15%) . The Firm’s most common investment types include growth capital (34%) and stake purchase (24%). In total, Advent Morro Equity Partners has invested in 7 US states and 2 different countries. Its largest (disclosed) acquisition occurred in 1999 when it acquired Centennial Communications for $1.9B.

In the last 3 years, Advent Morro Equity Partners has exited 1 company. The Firm’s most common exit type is trade sale (60%). Advent Morro Equity Partners’ largest (disclosed) exit occurred in 2002 when it sold Datek Online Holdings for $1.3B.

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M&A Summary

  • M&A Total Activity26
    • M&A Buy Activity21
    • M&A Sell Activity5
  • Total Sectors Invested 16
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 16

Advent Morro Equity Partners

206 Tetuan Street, Suite 903,
San Juan, 00902
Puerto Rico
(787) 725-5285
www.adventmorro.com

Advent Morro Equity Partners is a private equity firm focused on opportunities connected to Puerto Rico. The FIrm invests in companies operating in Puerto Rico, Puerto Rican companies expanding into the US, and established US-based companies whose products or services target the US hispanic market. Advent Morro’s seeks to team with management teams looking for capital to accelerate growth organically or through acquisitions. The Firm looks to invest $5 to $10 million in companies with annual revenues between $5 and $20 million. Sectors of interest include healthcare, hospitality, telecommunications, software-development, distribution, education and medical insurance. The Firm will consider a variety of investment situations, including MBOs, corporate divestitures, turnarounds, recapitalization of family owned businesses, and industry consolidation. Advent Morro Equity Partners was formed 1989 and is based in San Juan.


Investment Criteria

Sectors of Interest: Communications, Distribution, Education, Healthcare Services, Insurance, Software

Target Transaction Types: Buyout (LBO, MBO, MBI), Consolidation, Divestiture, Growth Capital, Recapitalization

Geographic Preferences: Latin/South America

Transaction Criteria Min Max
Target Revenue 5 20
Target EBITDA 1 5
Investment Size 5 10
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '17 '18 '19 '20 '21 '22 T
Buy (0.8/yr) # 17 - 1 1 2 - 21
vol $2.6B $2.6B
Sell (0.4/yr) # 3 1 - - - 1 5
vol $2.2B $2.2B
  26

Most Recent M&A

Company Date Value Type
Medical Card System, Inc. 2022-01-04 - Secondary Buyout
Hato Rey, Puerto Rico · www.mcs.com.pr
Andeno Co. 2021-02-01 - Growth Capital
San Juan, Puerto Rico · www.andeno.com
Switch BTC 2021-01-01 - Stake Purchase
Carolina, Puerto Rico · www.switchbt.com
Miramar Brewing LLC 2020-01-01 - Growth Capital
, Puerto Rico
Vigilant Shipping Holding LLC 2019-07-15 - Stake Purchase
San Juan, United States
Codigo Entertainment LLC 2018-07-27 - Add-on Acquisition
Miami, Florida · www.fania.com
LendingPoint LLC 2015-10-14 - Growth Capital
Kennesaw, Georgia · www.lendingpoint.com
Quench USA, Inc. 2014-10-20 - Merger
King of Prussia, Pennsylvania · www.quenchonline.com
FFI Holdings, Inc. 2011-05-25 - Growth Capital
Winter Park, Florida · www.lafamiliapawn.com
QWS Holding, LLC 2010-12-18 - Growth Capital
Guaynabo, Puerto Rico · www.qualitywaterpr.com
View All >>

M&A by Sector

Sector Current # Value All-time # Value
Financial Services 2 (17%) - 3 (14%) 700M (27%)
Beverages 2 (17%) - 3 (14%) -
Business Services 2 (17%) - 2 (10%) -
Communications - - 1 (5%) 1.9B (73%)
Education 1 (8%) - 1 (5%) -
Information Technology - - 1 (5%) -
Insurance - - 1 (5%) -
Internet Software and Services 1 (8%) - 1 (5%) -
Leisure 1 (8%) - 1 (5%) -
Life Science - - 1 (5%) -
Machinery 1 (8%) - 1 (5%) -
Media - - 1 (5%) -
Retail 1 (8%) - 1 (5%) -
Software - - 1 (5%) -
Transportation 1 (8%) - 1 (5%) -
Utilities - - 1 (5%) -
Total 12 - 21 $2.6B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 4 (33%) - 11 (52%) 2.6B (100%)
  Florida 1 (8%) - 3 (14%) -
  Georgia 1 (8%) - 2 (10%) -
  New Jersey - - 2 (10%) 2.6B (100%)
  Massachusetts 1 (8%) - 1 (5%) -
  Pennsylvania - - 1 (5%) -
  North Carolina - - 1 (5%) -
Puerto Rico 8 (67%) - 10 (48%) -
Domestic 8 (67%) - 10 (48%) -
Cross-border 4 (33%) - 11 (52%) 2.6B (100%)
Total 12 - 21 $2.6B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Growth Capital 7 (58%) - 7 (33%) -
Stake Purchase 4 (33%) - 5 (24%) -
Venture 1 (8%) - 4 (19%) -
Buyout (LBO, MBO, MBI) - - 2 (10%) 700M (27%)
Secondary Buyout - - 1 (5%) 1.9B (73%)
PIPE - - 1 (5%) -
Recapitalization - - 1 (5%) -
Total 12 - 21 $2.6B

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 2 (40%) 2.2B (100%)
Merger 1 (20%) -
Secondary Sale 1 (20%) -
Trade Sale 1 (20%) -
Total 5 $2.2B

Deal Values

buy # Total
> $1B 1 $1.9B
$100M to $1B 1 $700M
TOTAL $2.6B
Largest Centennial Communications Corp.
$1.9B (1999-01-01)
sell # Total
> $1B 1 $1.3B
$100M to $1B 1 $944M
TOTAL $2.2B
Largest Datek Online Holdings Corp.
$1.3B (2002-09-09)

M&A Connections

Deals
Exited to
Investor(s)
20%
1 (20%)
Strategic(s)
80%
4 (80%)

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