ACON fund acquires sales and marketing business Salesland
ACON Investments has announced that affiliates of ACON Latin America Opportunities Fund IV have acquired a majority interest in Salesland, a provider of direct sales and marketing services to blue-chip corporations.
The terms of the transaction were not disclosed.
Madrid-headquartered Salesland has 7,600 associates in Latin America and a further 3,300 in Iberia.
Salesland’s clients are active in Colombia, Peru, Chile, Mexico, Central America, and the Iberian Peninsula and operate in a wide range of sectors including telecommunications, banking, insurance, power utilities, consumer electronics and food & beverage.
The Salesland platform incorporates sales force management, point of sale presence, remote sales, retail shops development, digital sales and brand consulting. Since its foundation in 2000, Salesland has achieved yearly compounded growth in revenue of more than 25 per cent, an ACON statement said.
Under the terms of the transaction, Miguel Artero, founder and president of Salesland, and the company’s management team will roll over a portion of their equity stake in the company and will remain significant minority shareholders alongside ACON in a newly-formed holding company domiciled in Colombia.
GBS Finance and Deloitte Legal advised Salesland on the deal, while Hogan Lovells advised ACON.
ACON’s Madrid-based team has deployed more than €100 million of equity over the last two years. ACON’s strategy is to invest in medium-sized businesses in the US, Latin America and Europe. ACON Investments, which is based in Washington D.C, is a private equity investment firm that manages private equity funds and special purpose partnerships. Founded in 1996, ACON has responsibility for managing approximately $5.6 billion of capital.
Artero said: “This is a very special year for Salesland, our twentieth anniversary in the market and we believe a perfect time for such a significant step. We are delighted to be partnering with ACON as this will reinforce our leading position offering sales and marketing services to our clients. Together with ACON, Salesland will continue growing in Latin America and will start our expansion strategy towards new markets such as the United States. In addition, we plan to grow our employee base and increase our service offerings to our customers.”
José Miguel Knoell, managing partner of ACON, said: “Salesland’s international footprint, long-term customer relationships and differentiated service offering has made Salesland a reliable partner for companies seeking to reach potential consumers in the growing middle-class of Latin America. We are excited to partner with Salesland’s management team to accelerate future growth both organically and through accretive acquisitions in both Latin America and Europe.”
Marcos Semmler (pictured), partner of ACON Southern Europe Advisory, added: “Salesland has developed a comparative advantage in recruiting, training, retaining and motivating highly qualified sales associates that provide sales and customer relationship management services alongside a proprietary software platform.”
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