Add-on Acquisition • Business Services

Mills Acquires Solaris

On May 12, 2019, Mills acquired business services company Solaris from Southern Cross Group

Acquisition Context
  • This is Mills’ 1st transaction in the Business Services sector.
  • This is Mills’ 1st transaction in Brazil.

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M&A Deal Summary

Date May 12, 2019
Target Solaris
Sector Business Services
Buyer(s) Mills
Sellers(s) Southern Cross Group
Deal Type Add-on Acquisition

Target Company

Solaris

Sao Paulo, Brazil
Solaris is an equipment rental company that serves the construction and several other industries in Brazil. Solaris was established in 1996 and is based in Sao Paulo, Brazil
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Buyer Overview 1

Buyer

Mills

Rio de Janeiro, Brazil

Category Company
Founded 1952
Sector Construction
Employees2,236
Revenue 1.6B BRL (2024)
DESCRIPTION

Mills is an operator of construction business. Mills was founded in 1952 and is based in Rio de Janeiro, Brazil.


Deal Context for Buyer #
Overall 1 of 1
Sector: Business Services 1 of 1
Type: Add-on Acquisition 1 of 1
Country: Brazil 1 of 1
Year: 2019 1 of 1

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 12 of 15
Sector: Business Services 1 of 1
Type: Add-on Acquisition 3 of 5
Country: Brazil 1 of 2
Year: 2019 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-01 Broadbandtech

Buenos Aires, Argentina

Broadbandtech is an internet services provider in Argentina and specializes in providing triple-play services through agreements with third parties in cities of the interior of the country. Broadbandtech is based in Buenos Aires, Argentina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-13 Super Xtra

Panama City, Panama

Super Xtra is a food retail chain in Panama with a strongly articulated “everyday low price strategy”. The company is focused on serving the growing low-middle class in Panama driven by the strong performance of the country’s economy. The company operates a network of 14 stores nationwide through an efficiently-run supply chain and logistics platform. Super Xtra was founded in 1990 and is based in Panama City, Panama.

Sell -