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Alta Growth Capital and Northgate Capital Acquire USK Urresko Holding

28 January 2020

Alta Growth Capital and Northgate Capital acquired a majority equity interest in USK Urresko Holding, a Mexican manufacturer of heavy trucks. The amount of the transaction was undisclosed.

(Amexcap) Northgate Capital and Alta Growth Capital, two leading private equity firms focused on growth investing in Latin America, have acquired a majority equity interest in USK Urresko Holding S.A.P.I. de C.V. (“USK”), a leading manufacturer serving the North American heavy truck industry. Further terms of the transaction were not disclosed.

The company was founded in 1979 by Santiago Aguirre Alberdi. USK manufactures high-quality vehicle steering and suspension components and has successfully positioned its highly engineered products within the leading Original Equipment Manufacturers and their Tier 1 suppliers. USK has grown to become the single largest supplier of tie rod assemblies to the North American heavy-duty (class 5-8 trucks) commercial vehicle industry.

Erik Carlberg, Founding Partner of Alta Growth Capital, said: “Alta is excited to partner with the Aguirre family in a well-positioned market leader of steering components. The opportunities to create value and grow the business are exciting. We look forward to supporting Urresko’s impressive growth trajectory.”

Gabriel Mizrahi, Managing Partner of Northgate Capital Mexico, mentioned: “Santiago Aguirre Félix, the CEO of the company since 2000, shares our vision for developing additional long-lasting customers and penetrating new market segments, while seeking production efficiency improvements through the implementation of several operational strategic initiatives. We are thrilled to partner with USK, which has a solid track record and a leading market position in the North American market.”

“After 50 years of manufacturing steering components for the heavy truck industry at the highest quality standards, the Aguirre family is very excited and honored to have partnered with Northgate Capital and Alta Growth Capital. We strongly believe that this partnership will underpin our continued growth” said Santiago Aguirre Felix, CEO of USK.

Northgate Capital is making this investment out of its second local Private Equity Fund, totaling three investments so far. Alta is making this investment out of its Fund III. This is Fund III’s third portfolio company.

About Northgate Capital

Northgate Capital is private equity firm focused on developing small and mid-sized companies through capital or debt investments. Northgate has raised three funds locally since 2012.

About Alta Growth Capital

Alta Growth Capital, based in Mexico City, manages private equity funds focused on growth equity and buyouts in middle market companies in Mexico and Latin America. AGC has been operating in the region since 2007.