Add-on Acquisition • Distribution

Aramco Acquires Esmax

On March 1, 2024, Aramco acquired distribution company Esmax from Southern Cross Group

Acquisition Context
  • This is Aramco’s 1st transaction in the Distribution sector.
  • This is Aramco’s 1st transaction in Chile.

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M&A Deal Summary

Date March 1, 2024
Target Esmax
Sector Distribution
Buyer(s) Aramco
Sellers(s) Southern Cross Group
Deal Type Add-on Acquisition

Target Company

Esmax

Las Condes, Chile
Esmax is a fuel distribution company in Chile. Esmax operates in the retail segment under the Petrobras Distribucion brand. Esmax manages 279 service stations, 130 with convenience stores. In addition, Esmax operates in the industrial, aviation and lubricants businesses, with a competitive infrastructure network across the entire country. Esmax is based in Las Condes, Chile.
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Buyer Overview 1

Buyer

Aramco

Dhahran, Saudi Arabia

Category Company
Founded 1933
Sector Oil/Gas Exploration
Employees54,041
DESCRIPTION
Aramco office in downtown Houston, Texas.
Aramco office in downtown Houston, Texas.

Aramco operates as an integrated energy and chemical company in Saudi Arabia and internationally. Aramco was founded in 1933 and is headquartered in Dhahran, Saudi Arabia.


Deal Context for Buyer #
Overall 7 of 8
Sector: Distribution 1 of 1
Type: Add-on Acquisition 1 of 1
Country: Chile 1 of 1
Year: 2024 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-28 MidOcean Energy

Washington, District of Columbia, United States

MidOcean Energy is a liquefied natural gas (LNG) company builds a diversified, resilient, cost and carbon competitive LNG portfolio. MidOcean Energy is based in Washington, District of Columbia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-02-19 Unioil

Pasig City, Philippines

Unioil is a petroleum company that offers retail service stations and wholesale fuels trading to lubricants blending and distribution, specialty oils marketing, and distribution of bitumen (asphalt). Unioil was founded in 1966 and is based in Pasig City, Philippines.

Buy -

Seller Profile 1

DESCRIPTION

Southern Cross Group is a private equity firm that seeks investment opportunities in Latin and South America. Southern Cross only invests in control situations and does not focus on any specific industry. Southern Cross Group was formed in 1998 and is based in Greenwich, Connecticut with additional offices in Argentina, Chile, Mexico, and Brazil.


Deal Context for Seller #
Overall 15 of 15
Sector: Distribution 1 of 1
Type: Add-on Acquisition 5 of 5
Country: Chile 5 of 5
Year: 2024 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-04 S.I.N. Implant System

São Paulo, Brazil

S.I.N. Implant System is a provider of dental implant solutions and educational services for the dentist community in Brazil. The company manufactures the whole spectrum of products used by implantologists to perform dental implant procedures and makes significant investments on research to develop new products. S.I.N. Implant System was established in 2003 and is based in São Paulo, Brazil.

Sell -