Palmfund Acquires LexisNexis LatAm Assets
03/28/2008
Author:
Palmfund
United States
www.palmfund.com | Categories:
Private Equity
Retail/Services |
Article:
Palmfund Management, a Latin America focused private equity fund, announces the buyout of LexisNexis operations in Argentina, Chile and Mexico
March 28 2008 -- Palmfund Management, LLC (Palmfund), a private equity firm with one of the most experienced investment teams in the Latin America, announced today the acquisition of the legal, tax and regulatory publishing operations in Argentina, Chile and Mexico of LexisNexis, a leading global provider of business information solutions. The LexisNexis subsidiaries, that belonged to Reed Elsevier, an Anglo-Dutch leading provider and publisher of legal market, corporate, academic and government information, will continue providing services in these countries under a team led by Juan Alberto Castro, who has worked as Palmfund’s operating partner for this acquisition.
The acquirer of the Latin America Operations of LexisNexis will be Legal Publishing Netherlands Coöperatie U.A (Legal Publishing Group), a company owned by Palmfund, and which is part of the investment strategy in the region. Palmfund administrates a private equity fund dedicated to invest in companies with operations in Latin America and the Caribbean, with emphasis in Colombia, Mexico and Dominican Republic, where it has local investment teams.
”We are excited about our investment in Legal Publishing Group and its acquisition of the LexisNexis operations in Latin America. We are committed to the growth of these businesses and the further development of products to satisfy client’s needs in these markets. We have partnered with a seasoned management team that can add significant value to these operations and its clients,” said Carlos E. Gomez, Managing Partner of Palmfund.
“The sale of these high quality publishing businesses in Latin America is a strategic decision for LexisNexis. These are strong brands, but the markets do not offer the size and speed of acceptance of technology-based solutions we are looking for,” said Judy Vezmar, CEO LexisNexis Europe, Canada, Latin America and Africa. “We are confident that customers will be well served by Palmfund’s strong interest in publishing local content while LexisNexis continues serving our customers, including those in the region, with LexisNexis online international content.”
Management Team
Juan Alberto Castro, the ex-CEO of Legis, Colombia’s leading legal content publisher, and a team of industry specialists will lead the recently acquired operations. The local Management team already in-place at the companies will manage operations in each country.
The hallmark of experience
Palmfund’s investment team is recognized by its experience in private equity investments in Latin America, combining an in-depth knowledge of the local business environment with an operations-focused approach successfully applied in the past.
Palmfund manages investments and commitments for more than US$90 million, with a short-term objective to reach US$250 million under management.
About LexisNexis
LexisNexis® (
www.lexisnexis.com) is a leading global provider of business information solutions to a wide range of professionals in the legal, risk management, corporate, government, law enforcement, accounting and academic markets. LexisNexis originally pioneered online information with its
Lexis® and
Nexis® services. A member of Reed Elsevier [NYSE: ENL; NYSE: RUK] (
www.reedelsevier.com), LexisNexis serves customers in more than 100 countries with 13,000 employees worldwide.
For More Information:
María del Mar Payan
Telephone: +57 1 742 0707 ext. 105
Email: maria.payan@palmfund.com