Advent International buys majority stake in Neoris
Publicado em 30/08/2022
The shares purchased were held by Mexican cement giant CEMEX, which will remain a key strategic partner and customer of Neoris, while Advent will become the tech company’s majority stakeholder.
Advent will hold 65% of Neoris, while CEMEX will own the remaining 35%.
“What we’re looking for with the entry of a fund like Advent is to have more agility, be closer to the industries and have capital,” José Longinotti, global managing director of Neoris, was quoted by local media as saying.
"We’ve been growing but now we want to do it also in an inorganic way," added Longinotti. The focus for the future is to acquire a company in the United States to accelerate growth in that market, Longinotti said.
In Latin America, Neoris’ biggest market is Mexico, where it has three offices, while Argentina, Colombia and Brazil are also important markets.
The firm says the acquisition by Advent will also allow Neoris to improve services in artificial intelligence, data science, cloud solutions and automation. "These verticals are aligned with Cemex's priorities for its continued digital transformation," the company said in a press release.
DLA Piper advised Advent International in certain legal issues applicable in certain jurisdictions in the acquisition of the majority stake in Neoris.
“This deal is a great example of DLA Piper’s strength as a leading international law firm in Latin America in private equity, evidencing our experience advising the most stellar private equity clients in the region,” said Juan Manuel de la Rosa, the DLA Piper partner who led the deal team.
Along with de la Rosa (Colombia), DLA Piper’s deal team included partners María Claudia Martínez (Colombia), Antonio Arias (Argentina), Luis Vargas (Peru), Matías Zegers and Jorge Timmermann (both Chile), José María Gil-Robles and legal director Francisco Bachiller (both Spain); and associates Marcos Taiana, María Bourdieu and Rocío Yu (all Argentina), Leslie Chávez, Mariajosé Salazar (both Peru) and Luis Villasmil (Spain).