EFIC Partners has advised Stracon S.A., a majority owned company of Ashmore Group, in the acquisition of 60% stake in Dumas Holdings Inc., through its subsidiary Stracon International. The transaction closed October 26th.
Dumas, which specializes in the development, construction and production of mining services, has become an international full-service underground mining contractor, providing services in Mexico and Canada.
The founder of Dumas will retain a 40% stake in the company and a seat on the board of directors.
The EFIC Partners team, led by partner Marcos Quiroz and VP José Benavides, acted as financial counsel to Stracon. Representation included advising during the purchase agreement, as well as during the value negotiations, the coordination of the due diligence and closing of contracts with legal advisors.
The acquisition combines Stracon’s market leading position in open-pit mines in LatAm with Dumas’ leading underground capabilities, expanding its international reach of mining services business.