((Press Release) Nexxus Capital announced it reached an agreement to invest in Fondo de Transporte México, a holding company of leading subsidiaries in the logistics, cargo, personnel and student transportation sectors.
This investment will be made through Nexxus Capital Private Equity Fund VI, L.P. and Nexxus Capital VI Trust (jointly “Nexxus VI”), once certain closing conditions are met, including the approval of Mexico’s Antitrust Authority (“COFECE”).
FTM is the leading transportation platform in the logistics, cargo, personnel and student transportation sectors that operates under several brands that include Egoba, MyM, and Lipu; among others. Through all of its brands, the company operates more than 4,800 transportation units in 29 Mexican States.
The transportation and logistics sector shows significant consolidation opportunities, and constitutes the entire grid for local commerce as well as trade with North America. According to the Mexican Institute of Geography and Statistics (“Inegi”) in 2015 more than 80% of the total cargo of the country was transported by highways, moreover group transport for both students and personnel continues to show significant increases.
FTM will continue to acquire relevant players in the logistics, cargo, personnel, and student transportation sectors, which present attractive consolidating opportunities.