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Investment Summary

ACON Investments Invests In Tropigas

On February 1, 1998, private equity firm ACON Investments invested in energy services and equipment company Tropigas

Investment Highlights
  • This is ACON Investments’ 1st transaction in the Energy Services and Equipment sector.
  • This is ACON Investments’ 2nd transaction in Venezuela.
Investment Fate
  • Tropigas was sold to a strategic buyer in 2007.

Investment Summary
Date 1998-02-01
Target Tropigas
Sector Energy Services and Equipment
Investor(s) ACON Investments
Deal Type Growth Capital

Target

Tropigas

Caracas, Venezuela
Tropigas is the second largest distributor of liquefied petroleum gas (LPG) in Venezuela. The company was created through ACON's merger of the 2nd and 3rd largest LPG firms in Venezuela (Tropiven and Digas), consummated in conjunction with ACON’s purchase of both companies.

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Investor(S) 1

Investor

ACON Investments

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1996
PE ASSETS 7.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

ACON Investments is an international private equity firm that targets investments in the US, Europe, and Latin America. ACON's investment strategy covers 'opportunities at times of change - responding at points of inflection where value creation is possible'. Examples include businesses that serve the rapidly growing US Hispanic population, energy and energy service needs, businesses in need of operational help, and opportunities in Latin America resulting from economic deregulation and political liberalization. ACON's looks for companies where it can commit $20 to $150 million of equity capital. Target sectors include consumer products and services, distribution, business services and industrial manufacturing. ACON Investments was formed in 1996 and has offices in Washington DC; Houston, Texas; Los Angeles, California; and Madrid, Spain.

DEAL STATS #
Overall 4 of 74
Sector: Energy Services and Equipment M&A 1 of 6
Type: Growth Capital M&A Deals 4 of 23
Country: Venezuela M&A 2 of 2
Year: 1998 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1997-10-01 Netuno

Caracas, Venezuela

Netuno is the leading non-incumbent provider of voice, data and video services to residential and corporate customers in Caracas and the third largest cable TV operator in Venezuela. NetUno owns the largest local fiber optic network in Venezuela and is one of only 3 licensed local telephony providers in the country.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1998-04-01 United Auto Credit

Fort Worth, Texas, United States

United Auto Credit is an automotive finance technology-enabled non-prime auto lender serving the independent dealer market. UACC has made significant investments in developing proprietary technology that has enabled it to adapt to the ever-changing market, scale efficiently and generate operating leverage. United Auto Credit is based in Fort Worth, Texas.

Sell -
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