April 22, 2010 – ALTRA Investments, a private equity fund based in Lima and Bogota, announces the successful closing of the acquisition of 51% of SEMIGLO’s (Servicios Mineros Gloria S.A.C) shares. SEMIGLO is an underground mining contractor that has served the Peruvian market since 2000, providing specialized development, exploitation, roof reinforcement and equipment rental services. The Company employs more than 1,000 workers and operates 100 specialized machines. SEMIGLO closed year 2009 with USD 30.5 million in sales and plans to exceed USD 55 million in 2010, which is in line with its strategic plan for the next five years.
This is the second investment for ALTRA in Peru since it was founded in 2005, and the third made by funds FCPI, APEF I and APEF IA, which entered investment stage in March 2009. ALTRA currently manages USD 185 million, of which USD 130 million has been invested in six companies with high development potential in Peru, Colombia, Central America and Spain.