Case Study: IFC's Acquisition of AYSSA

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.

Transactions:

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)