Fund, Investor & Acquisition Network
- 4 acquisitions
- 16 investors
- 3 search funds
Inner ring: investors. Middle ring: funds and search funds, sized by how many investors back them. Outer ring: the acquisitions they made — click any node to highlight its network.
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- Fund / search fund
- Strategic acquirer
- Acquired company
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- backing investors
Who is buying companies in Mexico?
WhoBoughtWho tracks 4 acquisitions of companies in Mexico (2017–2026), made by 3 buyers — private equity funds, search funds and strategic acquirers — backed by 16 investors. The most active sectors are Construction chemicals, Manufacturing, IT/Telecom, FinTech.
Most active acquirers in Mexico
- AVS Capital (search fund) — 1 acquisition: Bautech (2026, revenues of approximately US$10M, with an EBITDA of US$3M).
- Dhandho (search fund) — 1 acquisition: Auronix (2019).
- Inversiones Cabiedes (investor) — 1 acquisition: UnDosTres (2017).
- Reforma Capital (search fund) — 1 acquisition: IMMSA (2024).
Browse the full list (19 funds/investors, 4 acquisitions in Mexico)
The graph above is the fast way to explore this — this plain list covers the same ground for anyone who'd rather scan or search text. Each name links to its own page centered on that entity.
- 9T Capital — Investor
- Alza Capital Partners — Investor
- Anacapa Partners — Investor, California, USA
Category A search fund investor · California, USA · founded 2010 · $147M Fund IV (2023); 100 search fund investments, 47 exits, active in LATAM & Southeast Asia.
- Aspect Investors — Investor, Texas, USA
Search fund investor (Category C) · Texas, USA · founded 2012 · 192 search funds backed, 86 companies; Healthcare-heavy, limited international exposure.
- AVS Capital — Search fund · Backed by 9T Capital, Alza Capital Partners, Benjamin Estrella, Cerralvo Capital, ITACA Capital Partners, JB46, Jose Pablo Fernandez, Leon Bartolome, Scott Asen, Spectra Investments, Ventura Search Capital
Search fund vehicle. Acquired Bautech (Construction chemicals) in Mexico, announced 2026-01-29.
- Acquired Bautech in 2026 for revenues of approximately US$10M, with an EBITDA of US$3M (Construction chemicals), Mexico. Acquired by AVS Capital (Antonio del Valle Sierra). Backed by 9T Capital, Alza Capital Partners, Benjamin Estrella, Cerralvo Capital, Itaca Capital Partners, JB46, Jose Pablo Fernandez, Leon Bartolome, Scott Asen, Spectra Investments, Ventura Search Capital. Source: https://searchfundsnews.com/avs-capital-acquires-100-of-mexican-bautech/
- Benjamin Estrella — Investor
- Cerralvo Capital — Investor, Florida, USA
Search fund investor · Florida, USA · founded 2019 · 33 deals backed (30% Mexico, 70% elsewhere); first international exit in Spain (2024).
- Dhandho — Search fund · Backed by Aspect Investors, Anacapa Partners
- Acquired Auronix in 2019 (IT/Telecom), Mexico. Co-invested with Applied Equity Partners, BK Growth, Futaleufu Partners, Partner Ventures, WSC & Company (via Dhandho).
- Inversiones Cabiedes — Investor, Spain
Search fund investor (Category C) · Spain · 55 investments, 10 exits (2 international); ~75% of portfolio in Europe, check size EUR400-500K, FinTech & Consumer focus.
- Acquired UnDosTres in 2017 (FinTech), Mexico. Cabiedes & Partners, Martin Schrimpff, Soldiers Field Angels and Saba Investments invested $1.4M.
- ITACA Capital Partners — Investor
- JB46 — Investor, Spain
Category A search fund investor · Spain · 100 backed search funds, 32 portfolio companies (5 international); active in Brazil and Mexico, Business Services/Healthcare/Distribution.
- Jose Pablo Fernandez — Investor
- Leon Bartolome — Investor
- Reforma Capital — Search fund · Backed by Relay Investments, WSC & Company, Cerralvo Capital
- Acquired IMMSA in 2024 (Manufacturing), Mexico. Acquired by Reforma Capital; co-invested alongside WSC & Company, Ambit Partners, JB46, Cerralvo Capital.
- Relay Investments — Investor, Boston, USA
Category A search fund investor · Boston, USA · $200M AUM · 200+ search funds backed; heavy technology focus with fast-growing international exits since 2019.
- Scott Asen — Investor
- Spectra Investments — Investor, Brazil
Search fund investor (Category C) · Brazil · founded 2017 · ~$1.23B AUM, 700+ investee companies; LATAM-focused, prefers mid-market over startups.
- Ventura Search Capital — Investor
- WSC & Company — Investor, Charlotte, North Carolina, USA
Category A search fund investor · Charlotte, NC · $2B+ portfolio enterprise value · 90+ companies backed; frequent co-investor with Relay & Miramar.