Case Study: IFC's Acquisition of AYSSA

IFC Clients:

  • IFC was a leading transit outdoor advertising company in Mexico, with a strategic portfolio of assets such as the concession on Mexico City’s metro & several agreements with bus operators covering 11,000 vehicles.
  • IFC sought to grow its operations through acquisitions in order to diversify its portfolio mix and to leverage its clientele into new locations.
  • CEA was engaged by IFC to identify targets with strategic positioning at attractive valuations.
  • CEA identified Ayssa (the outdoor advertising subsidiary of a leading beverage company) with over 5,000 outdoor structures throughout the country. The beverage company divested Ayssa to IFC while retaining a long-term advertising contract
  • The combined entity (IFC + Ayssa) is the second largest outdoor advertising company in Mexico. The acquisition was funded by Advent.
CEA's Role:
  • Identified target company
  • Built financial model capturing synergies
  • Prepared a memorandum of information on the combined entity
  • Secured acquisition capital from Advent and GE Capital
  • Coordinated the transaction process, flows of information and access to the companies
  • Led negotiations until closing (sale and purchase agreement, shareholders’ agreement and financing agreement)

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