November 22 2014, David R Brown
US private equity company, Advent International acquires leading Latin American chemical distributor, Grupo Transmerquim
The founding shareholders of Grupo Transmerquim, S.A. (GTM), one of the largest chemical distributors in Latin America, have announced they have sold the company to Advent International, an American global private equity firm focused on buyouts of companies in Western and Central Europe, North America, Latin America and Asia. The transaction is expected to close in December 2014. Terms of the agreement were not disclosed.
GTM's size and geographic presence provide a strong platform to consolidate the industry
Mauricio Salgar
Managing Director, Advent International, Colombia
Since its founding in Guatemala 31 years ago, GTM has grown organically to become, along with Brenntag, one of only two chemical distribution companies with a fully Pan-Latin American footprint.
Richard Kellogg, Founder & President of GTM's Board of Directors, said, “There are tremendous growth opportunities for GTM in Latin America and beyond. Advent's resources, industry and M&A experience will facilitate both GTM's acquisition plan and its continuing organic growth. Our management has gotten to know the Advent team well, and I believe that the strong cultural fit between them will be a significant plus as GTM continues its path forward.”
Mauricio Salgar, Managing Director in Advent's Bogotá, Colombia, office, said, “We are excited to begin working with the GTM team, as they are a leading company in the Latin American chemical industry with significant growth prospects. The chemical distribution market remains highly fragmented, especially in Latin America, and GTM's size and geographic presence provide a strong platform to consolidate the industry, leveraging Advent's M&A experience in the region.”
No changes are expected to GTM's management team or to the company's existing operations as a result of this transaction.
About GTM
GTM was founded 31 years ago in Guatemala. Since then, it has grown organically to become the second-largest chemical distributor in Latin America and one of only two chemical distribution companies with a fully Pan-American footprint. GTM provides chemical products and logistical services to more than 10,000 customers in a range of industries from personal care to oil exploration through its 40 locations in 12 countries from Mexico to Argentina and its supply offices in Houston and Beijing. The company has over 400 employees.
Source(s): GTM Press Release, Industry Sources
Further Information
Visit: httP//www.gtm.net