M&A Deal Summary

Alta Growth Capital Acquires Tangelo

On October 31, 2018, growth capital firm Alta Growth Capital acquired financial services company Tangelo from The Abraaj Group

Acquisition Highlights
  • This is Alta Growth Capital’s 2nd transaction in the Financial Services sector.
  • This is Alta Growth Capital’s 15th transaction in Mexico.

M&A Deal Summary

Date 2018-10-31
Target Tangelo
Sector Financial Services
Buyer(s) Alta Growth Capital
Sellers(s) The Abraaj Group
Deal Type Secondary Buyout

Target

Tangelo

Mexico city, Mexico
Tangelo is an independent leasing company provides specialized financing of productive assets to Mexican small and medium-sized enterprises, a sector that is largely underserved by banking institutions despite representing the majority of the economic activity in the country. Tangelo offers tailored products, including capital leasing, operating leases, transportation services, factoring, cash financing and equipment financing, through a salesforce of more than 80 professionals and an extensive network of vendors and brokers. Tangelo was founded in 1996 and is based in Mexico City.

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Buyer(S) 1

Buyer

Alta Growth Capital

Bosques de las Lomas, Mexico

Category Growth Capital Firm
Founded 2007
PE ASSETS 152M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Alta Growth Capital is a private equity firm focused on investing in middle-market companies operating in Mexico. Alta looks for opportunities benefiting from the increased consumption of goods and services in Mexico and the US Hispanic market. These areas include the consumer goods, financial services, housing, healthcare, education, entertainment, and selective manufacturing and industrial sectors. Alta looks to commit $10 to $30 million US in companies generating sales of $15 to $120 million. Alta will consider both majority and minority positions. Alta Growth Capital was formed in 2007 and is based in Bosques de las Lomas.


DEAL STATS #
Overall 16 of 20
Sector: Financial Services M&A 2 of 2
Type: Secondary Buyout M&A Deals 1 of 1
Country: Mexico M&A 15 of 18
Year: 2018 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-31 Turistore

Mexico

Turistore is a souvenir retail chain in Mexico’s top tourist locations. Turistore currently operates more than 16,000 m2 of retail floor space spread across the Riviera Maya, Puerto Vallarta, and Los Cabos, concentrated in tourist avenues, cruise docks, and shopping centers. The stores operate under diverse brands and sell handicrafts, souvenirs, clothing, pharmacy, totaling over 27,000 SKUs. Turistore was founded in 1982 and is based in Mexico.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-11 Lottus Education

Distrito , Mexico

Lottus Education is a tech-powered consolidation platform of higher education in Mexico. Through its operating brands, Lottus Education offers high-school, undergraduate, and graduate educational programs and services, online and on-campus in Mexico. Lottus Education has more than 45,000 enrolled students, including over 20,000 digital students, nationwide. Lottus Education was founded in 2015 and is based in Distrito, Mexico.

Buy -

Seller(S) 1

SELLER

The Abraaj Group

Dubai, United Arab Emirates

Category Asset Manager
Founded 2002
PE ASSETS 7.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Abraaj Capital Limited is a private equity firm that seeks investments in the Middle East, North Africa, and South Asia. Abraaj looks for stable, mature businesses and uses a 'buy and build' strategy for growth. Areas of interest include aerospace, healthcare, transportation, financial services, leisure, education, energy, and manufacturing. In addition to its buyout and growth capital investments, Abraaj also invests in real estate and infrastructure. Abraaj Capital was formed in 2002 and is based in Dubai.


DEAL STATS #
Overall 26 of 31
Sector: Financial Services M&A 5 of 5
Type: Secondary Buyout M&A Deals 5 of 7
Country: Mexico M&A 2 of 2
Year: 2018 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-08 Middlesex University Dubai

Dubai, United Arab Emirates

Middlesex University Dubai is one of the region's most dynamic and forward-thinking institutions that offers foundation, undergraduate and postgraduate degree programs in business, law, art, and design, science and technology, health and education, and media. Middlesex University Dubai was founded in 2005 and is based in Dubai, United Arab Emirates.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-01 Java House

Nairobi, Kenya

Java House owns and operates a chain of coffee houses. Java House operates commercial coffee roasteries, providing quality coffee and bean sales to its own stores and to supermarkets, hotels, restaurants and wholesale buyers. Java House was founded in 1999 and is based in Nairobi, Kenya.

Sell -