1. Home >
  2. M&A >
  3. Secondary Buyout >
  4. Mexico >
  5. Southern Cross Group Acquires Axity

M&A Deal Summary

Southern Cross Group Acquires Axity

On January 3, 2017, private equity firm Southern Cross Group acquired information technology company Axity from OpenGate Capital and Optimal Investment Group

Acquisition Highlights
  • This is Southern Cross Group’s 3rd transaction in the Information Technology sector.
  • This is Southern Cross Group’s 7th transaction in Mexico.

M&A Deal Summary
Date 2017-01-03
Target Axity
Sector Information Technology
Buyer(s) Southern Cross Group
Sellers(s) OpenGate Capital
Optimal Investment Group
Deal Type Secondary Buyout

Target

Axity

Mexico, Mexico
Axity is a Latin-American, integrated, end-to-end IT services provider. Axity´s portfolio of services is quite unique in the market, encompassing IT Strategy, Information Management (e.g., business intelligence), Application Management (e.g., ERPs, software development), IT Management, Security and Technology Infrastructure (e.g., communication and connectivity). Axity is based in Mexico.

Search 205,401 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 1

Buyer

Southern Cross Group

Category Private Equity Firm
Founded 1998
Size Middle-Market
Type Sector Agnostic
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 STATS #
Overall 28 of 30
Sector (Information Technology) 3 of 3
Type (Secondary Buyout) 1 of 1
Country (Mexico) 7 of 7
Year (2017) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-01 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.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-06 Ultrapetrol

Nassau, Bahamas

Ultrapetrol is an industrial transportation company serving the maritime transportation needs of a diverse client base. Ultrapetrol was founded in 1992 and is based in Nassau, Bahamas.

Sell -

Seller(S) 2

SELLER

OpenGate Capital

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2005
PE ASSETS 890M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

OpenGate Capital is a private investment firm focused on acquiring divestitures of larger public corporations or troubled companies needing restructuring. OpenGate does not focus any particular industry and will consider opportunities throughout North America and Europe. The Firm's target companies with up to $1 billion of revenue and valued up to $300 million. OpenGate Capital was formed in 2005 and is based in Los Angeles, California.

DEAL STATS #
Overall 15 of 32
Sector (Information Technology) 2 of 3
Type (Secondary Buyout) 4 of 8
Country (Mexico) 1 of 1
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-01 AGIS Fire & Security

Warsaw, Poland

AGIS Fire & Security distributes electronic security and fire protection solutions in Poland, Greece, Finland, and Hungary.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-05 Hufcor

Janesville, Wisconsin, United States

Hufcor is a designer, manufacturer and installer of movable partitions and flexible space management solutions. Hufcor is based in Janesville, Wisconsin.

Buy -
SELLER

Optimal Investment Group

Investor Investor

Category Private Equity Firm
Founded 2006
Size Small
Type Sector Agnostic
DESCRIPTION

Optimal Investment Group is a private equity firm focused on acquiring control positions in North American companies with $20 to $500 million of revenue. The Firm is industry agnostic and will consider a variety of investment situations including buyouts, corporate carve-outs, and special situations. Optimal Investment Group was formed in 2006 and is based in Sherman Oaks, California.

DEAL STATS #
Overall 2 of 4
Sector (Information Technology) 1 of 1
Type (Secondary Buyout) 1 of 2
Country (Mexico) 1 of 1
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-01 Movandi

Irvine, California, United States

Movandi is a wireless technology company, that brings innovative RF front-end technology to emerging high frequency, millimeter wave networks for 5G and beyond. Movandi was founded in 2016 and is based in Irvine, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-12 Technology Associates

Midvale, Utah, United States

Technology Associates is a wireless telecommunications deployment and professional services firm consisting of Site Acquisition, Architecture and Engineering Design, and Construction Project Management. Technology Associates was founded in 2005 and is based in Midvale, Utah.

Buy -
Mergr

Product

Company

Legal