Boston-based Beamonte Investments has acquired Mexican-based pharmaceutical services provider CITEC ING. The acquisition has been completed. Transaction value was not disclosed.
Beamonte Investments, the leading Investment firm of Boston, announced that it has acquired the Mexican based company that offers an inclusive set of pharmaceutical services, CITEC ING. The acquisition has been completed, while the transaction value was not disclosed.
With this acquisition, Beamonte will tote up the management capabilities of the team and the client network of the company. Founded in 2003, CITEC presents Mexico based and international products and pharmaceutical services. It primarily offers pharmaceutical services that concentrate in corroboration to health laws, implied with both, the national and international industry. One of the prime factors of CITEC is its high-end client base that comprises of different fortune 500 companies.
The senior vice president for Mexico Beamonte Investments, Raul Galvez said: “We look forward to work with CITEC ING team to access the next stage of CITEC’s growth and profitability., In addition to a bright outlook, the company performed exceptionally well in the past few years, showing commitment with its clients, and quality”. This proves that the investment group is looking forward to use CITEC as a doorway to the next stage. The group will be focusing on CITEC’s growth in order to achieve maximum returns for investors.
Luis Trevino, managing director of Beamonte, said: “We are excited about this transaction that is our first equity investment in the country, CITEC ING has reached a solid recognition in the industry. The company supports a valuable industry within a growing country. Mexico is one of the most attractive pharmaceutical markets in the Latin America region. This provides an attractive platform for expansion. Also, our investment in CITEC ING demonstrates Beamonte’s confidence in the Mexican economy”.
About Beamonte Investments
Beamonte Investments is one of the world’s leading investment and advisory firm. Beamonte Investments seek to create long-term value for its investors, the portfolio companies and the companies it advises. Beamonte Investments provides various financial advisory services, including investment banking advisory, financial and strategic advisory and fund placement services. Beamonte alternative businesses includes the management the private equity funds, real estate funds and credit oriented strategies.
About CITE ING
CITEC ING was formed in 2003 to provide validation services to the pharmaceutical industry in Mexico; the company develops a fully integrated suite of solutions including drugs stability, validation of computerized systems, training courses and environmental and surface monitoring. CITEC ING was founded by its CEO Mauricio Ibarmea.