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  5. CoInvest Argentina S.A. Acquires Jardín del Pilar

M&A Deal Summary

CoInvest Argentina S.A. Acquires Jardín del Pilar

On January 1, 2005, private equity firm CoInvest Argentina S.A. acquired consumer services company Jardín del Pilar

Acquisition Highlights
  • This is CoInvest Argentina S.A.’s 1st transaction in the Consumer Services sector.
  • This is CoInvest Argentina S.A.’s 6th transaction in Argentina.

M&A Deal Summary
Date 2005-01-01
Target Jardín del Pilar
Sector Consumer Services
Buyer(s) CoInvest Argentina S.A.
Deal Type Buyout (LBO, MBO, MBI)

Target

Jardín del Pilar

Argentina
Jardín del Pilar is Argentina’s largest private provider of funeral and death care services, with 5 leading cemeteries and 7 funeral homes, having the most recognized and prestigious brands in both activities. CoInvest partnered with the Ábalos Group, the former owners of cemeteries in Chile, and Julio Zorraquin, former owner of the best private cemetery in Argentina to acquire 100%-ownership of Jardín del Pilar. CoInvest and its partners appointed a new management team and designed and implemented a strategy to increase commercial productivity and achieve cost efficiencies. Two years after acquisition, CoInvest sold its stake to the Ábalos Group.

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Buyer(S) 1

Buyer

CoInvest Argentina S.A.

Buenos Aires, Argentina
Category Private Equity Firm
Founded 2002
Size Small
Type Sector Agnostic
DESCRIPTION

CoInvest Argentina is a private investment firm focused on acquiring controlling stakes in Argentine companies. CoInvest will consider opportunities in a variety of industry sectors, and is a 'hands on' investor, looking to assist portfolio companies with growth strategies, as well as operational and financial improvements. Sectors of interest include telecommunications, electric utilities and food/beverages. CoInvest was formed in 2002 and is based in Buenos Aires.

DEAL STATS #
Overall 6 of 7
Sector: Consumer Services M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 6 of 7
Country: Argentina M&A 6 of 7
Year: 2005 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-01-01 CTI Movil

Córdoba, Argentina

CoInvest assembled an investor group, which included Organización Techint (Argentina), HSBC Tower Fund (Argentina), América Móvil (Mexico) and Deutsche Bank (US) to acquire CTI, one of the four major wireless telecommunications operators in Argentina, which was in default on total debt of over US$1.1 billion. Six months after take-over, CoInvest completed the financial restructuring of the company which led to a negotiation among members of the investor group ending in América Móvil buying out all other investors.

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FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-01-01 Sadesa

Argentina

Sadesa owns controlling stakes in electricity generation assets, including Hidroeléctrica Piedra del Águila, Central Puerto, Centrales Térmicas Mendoza and La Plata Cogeneración, that rank it as the second largest power generation company in Argentina. CoInvest is a member of the consortium that formed Sadesa to acquire the argentine electricity generation assets from Total and CMS.

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