Discovery Americas announces Global Initial Public Offering of Volaris.
Mexico City, September 29, 2013.- Discovery Americas announces the completion of the initial public offering of its portfolio holding, Controladora Vuela Compañia de Aviación, S.A.B. ("Volaris"), an ultra-low-cost airline based in Mexico; and a successful first week of trading.
On its first day of trading on September 18, 2013, Volaris ADS' (Ticker: VLRS) rose approximately 16.8%, to close at $14.01. Subsequently, the IPO's underwriters exercised their overallotment option (the "Green Shoe") to purchase approximately 43.3 million additional shares of Volaris. During the first week of trading, Volaris ADS' gained 21.1 % (from the IPO price) to close at $14.53 (on Tuesday, September 24), which was the best 1 week performance among any of the Latin American IPOs completed in 2013 year to date. "Volaris, the company that Discovery Americas and three other partners started with a little less than $200 million in equity capital, has a post-IPO market capitalization of approximately $1,470 million as of Tuesday's close" said Harry Krensky, managing partner of Discovery Americas. "We are encouraged by the public markets reception to Volaris in its first week of trading."
Discovery Americas has been part of Volaris since its inception. Members of the Discovery Americas' team originated the idea for Volaris; and worked alongside Volaris management (led by CEO Enrique Beltranena) and Roberto Kriete's Blue Sky Investments to co-develop and co-manage its original strategy and business plan. Alongside these and other Volaris partners, including William Franke's Indigo Partners and a group of prominent Mexican individuals (led by Pedro Aspe), Discovery Americas has played important roles in Volaris' growth and development. The Volaris Board of Directors includes Harry Krensky, Carlos Mendoza, Alberto Moreno and Dean Donovan.
Discovery Americas' funds remain the largest shareholder of Volaris with over a 20% collective ownership position. Among our funds, Discovery Americas CKD (ticker ADMEXCK); Discovery Air Investments, LP; Discovery Americas I, LP and Copernicus Investors, LP; and Discovery Americas II, LP and Galileo Investors, LP all invested in Volaris. For more information about Discovery Americas, go to www.DiscoveryAmericas.com
Central Valley Fund exits Ultra Gro Plant Food
September, 11, 2013.- The Central Valley Fund ("CVF") announced the exit of its investment in Ultra Gro Plant Food ("Ultra Gro") in Madera, CA. CVF supported a management led buy-out ("MBO") of Ultra Gro in 2008 by investing $3.35 million in Mezzanine Debt and Equity to assist management in financing the purchase from the company founders.
The long tenured MBO team - Don Parreira, Harold Peters, Steve Best and Craig Fourchy - saw the opportunity to take advantage of the company's strength in the market place and further grow its dedicated offerings in the fertilizer industry. Over the last five years the company continued to grow their product range, expand geographically throughout the California Central Valley and into Mexico, and grow its client base.
"The MBO gave Ultra Gro the opportunity to take full advantage of the expanded demand for fertilizer products in a strong commodity market. Thanks to continued internal and external investment in the product range, Ultra Gro has captured new market share and continues to expand its customer base domestically, and in Mexico", according to President, Don Parreira.
The MBO gave Ultra Gro the opportunity to focus fully on those new and existing clients and grow to meet their needs and requirements.
Ed McNulty, Partner at CVF, said; "Ultra Gro has become a market leader in specialty fertilizer in the Central Valley. The transformation of the business demonstrates our partnership with the management team and their hard work in creating a diversified business in a competitive market. We wish the business all the best in the future as it embarks on its next stage of growth".
About The Central Valley Fund: The Central Valley Fund was established in 2005 and to finance later stage growth and buy outs through mezzanine and preferred equity investments and manages over $140 million in committed capital. The fund has offices in Davis, CA and Fresno, CA. It is focused on making investments in California's Central Valley and throughout Western U.S. For more information, please visit http://www.centralvalleyfund.com.
Venture Partners México announced an investment in Médica Santa Carmen
(Spanish) Ciudad de México, septiembre 1, 2013.- Venture Partners México anuncia la inversión que hizo recientemente en la empresa Médica Santa Carmen SAPI de CV convirtiéndose en el principal inversionista de una ronda de inversión que asciende a MXN $12,750,000.
"Santa Carmen tiene un gran potencial en nuestro país y estamos orgullosos de incluir a dicha compañía a nuestro portafolio de inversión", comentó Federico Antoni, Cofundador de Venture Partners México.
Médica Santa Carmen es una red de centros de atención integral para pacientes con insuficiencia renal. La clínica del riñón brinda terapias de diálisis de ultima generación además de ofrecer consulta externa, análisis clínicos, atención pre y post-trasplante, nutrición, y educación para tratar y prevenir la insuficiencia renal. Operando desde diciembre de 2011, Santa Carmen ha realizado más de 16,000 tratamientos con una tasa de mortandad de cero durante las sesiones.
Hasta ahora, la compañía se ha financiado por completo con capital de los socios. "La suma levantada permitirá cuadruplicar el acceso a los pacientes", dijo Andrés Gutiérrez, Fundador y Director General de Santa Carmen. Esta ronda de financiamiento permitirá que las Clínicas II y III, ahora en construcción, abran a finales de año.
Venture Partners México es un fondo pionero en inversiones de capital emprendedor que invierte en empresas de alto impacto en el país. Al día de hoy, el fondo ha realizado once inversiones en los sectores de movilidad, comercio electrónico, servicios financieros y de salud. Venture Partners México fue fundada y es liderada por Fernando Lelo de Larrea y Federico Antoni.