GTM Holdings, which is backed by Advent International, has acquired Peruquímicos S.A.C., a chemical distributor in Peru. No financial terms were disclosed; however, Advent is providing undisclosed equity funding to support the deal.
Lima, Peru. (October 5, 2016). GTM Holdings, SA (GTM), the second-largest chemical distributor in Latin America, today announced that it has acquired Peruquímicos S.A.C., the leading chemical distributor in Peru. Advent International, one of the largest and most experienced global private equity investors, is the controlling shareholder of GTM and is providing equity financing to support GTM’s acquisition of Peruquímicos S.A.C. This
transaction marks Advent’s first direct investment in Peru. Terms of the agreement were
Founded in 1995, Peruquímicos S.A.C. specializes in the import, marketing, storage and distribution of chemical products. It is the largest chemical distributor in Peru distributing close to 100 products from almost 50 suppliers to more than 1,000 clients.
The acquisition of Peruquímicos S.A.C. will enhance GTM’s service capabilities in Peru and the rest of Latin America and is aligned with the company’s strategy to offer a robust line of products and services to its customers. GTM has an affiliate in Peru, Transmerquim of Peru, as well as operations in Argentina, Brazil, Colombia, Costa Rica,
Ecuador, El Salvador, Guatemala, Honduras, Mexico, Nicaragua and Panama.
“The acquisition of Peruquímicos S.A.C. further strengthens our presence in Peru and supports our growth strategy of creating a leading regional platform that offers a robust set of services to our customers across Latin America,” said Michael van Marle, Chairman and CEO of GTM. “Together, GTM and Peruquímicos S.A.C. provide our
customers with a new option that integrates the experiences and quality of both companies in a portfolio of innovative products, technologies, services and solutions unique to Latin America.”
“The combination of Peruquímicos S.A.C. and GTM will create important synergies that will have a positive impact on our ability to serve our customers in Peru,” said Rina Corzo, Founder of Peruquímicos S.A.C. “Joining with GTM is an important next step in the long and successful history of Peruquímicos S.A.C. and we are excited that this
transaction will create many opportunities for business development in Peru.”
As GTM and Peruquímicos S.A.C. begin to integrate operations, each company will continue to operate under its current legal name and continue with normal business operations.
“Acquisitions are an important part of GTM’s growth strategy and we are pleased to support the company as it continues to expand its product and service offerings to customers and grow inorganically,” said Mauricio Salgar, a Managing Director in Advent’s Bogotá office. “The acquisition of Peruquímicos S.A.C. marks Advent’s first direct
investment in Perú and we are very excited about growing our presence in the country and partnering with more firms to help them accelerate their value creation processes.”
Advent is one of the leading private equity investors in Latin America. Since 1996, the firm has invested in over 50 companies across Latin America. Advent has been active in the chemicals and materials industry for more than 25 years, during which time it has invested in over 30 companies in the sector globally. Its recent investments in the sector include Quala, VIAKEM, GTM, Allnex, Maxam, Mondo Minerals, Oxea and H.C. Starck.
GTM was founded in 1983 in Guatemala. Since then, it has grown organically to become the second-largest distributor of chemicals in Latin America and one of the two chemical distribution companies with a fully Pan-American footprint. GTM provides chemicals and logistics services to more than 10,000 customers in a range of industries from personal care to oil exploration through its 43 centers in 12 countries, from Mexico to Argentina
and its supply offices in the United States and China, as well as its exclusive commercial representations in India, South Korea and Europe. For more information, visit www.gtm.net.
About Peruquímicos S.A.C.
Peruquímicos S.A.C. is a company founded in 1995 in Perú, specializing in the importation, storage and distribution of chemicals and other related services.
Peruquímicos S.A.C. has over 21 years of experience in the Peruvian market, which has allowed the company to gain in debt knowledge of the local market, especially companies engaged in the paint industry, solvents, adhesives, resins, inks, foam, leather, paper, personal care, household care, specialties like coating, sealings, silicas and others.
About Advent International
Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in more than 300 private equity transactions in 40 countries and as of June 30, 2016, had $40 billion in assets under management. With offices on four continents, Advent has established a globally
integrated team of over 180 investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services; healthcare; industrial; retail, consumer and leisure; and technology, media and telecom. After more than 30 years dedicated to international investing, Advent remains committed to partnering with management teams to deliver
sustained revenue and earnings growth for its portfolio companies.
Additionally, Advent is one of the most experienced private equity investors in Latin America, with a 20 year track record spanning over 50 investments and $6 billion in capital raised for the region. Advents latest fund, LAPEF VI has $2.1 billion in committed capital and is invested across Latin America by a team of 37 investment professionals
based in Mexico, Brazil, Colombia and Peru.
For more information, visit www.adventinternational.com.