Grupo Los Grobo announces a capital increase with the addition of an investment group led by Victoria Capital Partners

2018-04-24T20:46:35-03:00 November 17th, 2016|Argentina|

November 17, 2016 Grupo Los Grobo (“Los Grobo”) announced today the completion of the negotiations for the incorporation as a new shareholder of an international investment group led by Victoria Capital Partners (“VCP”), one of the most respected private equity firms in Latin America. This capital increase of US$100,000,000 will be used to strengthen the capital structure of the company and support its current growth plan aiming at doubling its size in the next 4 years. Simultaneously, VCP acquires a block of additional shares from certain shareholders of the Company. This is a very important transaction due to the high quality of the investment group led by VCP, which includes The University of Texas Investment Management Company (“UTIMCO”), the International Finance Corporation (“IFC”) and FMO the Dutch development bank. In connection with this announcement Gustavo Grobocopatel who will remain as President of the company said: “Under the [...]

Corona and Cementos Molins

2018-04-24T20:48:05-03:00 January 6th, 2016|Colombia|

January 6, 2016 On Sept. 2015 Corona signed an agreement with Cementos Molins ("CM",, a Spanish-based international player in cement with leading presence in Latam, to jointly develop the cement production and commercialization business in Colombia. The company and Victoria believe this is a great opportunity to enter into a new business line that is totally complementary to Corona's building materials portfolio. It also provides the opportunity to capitalize from its approx. 100 years' worth of limestone reserves (limestone serves as raw material for cement production), as well as from Corona's know-how for mining their limestone queries and their current vast distribution network in Colombia. This initiative will be executed via a 50%-50% JV with CM and includes the construction of a plant with a capacity of 1.4 million tons per year with a total investment of approx. USD 370 mm, located 160km northwest of Bogota [...]

Lamosa Acquisition by CORONA

2018-04-24T20:49:18-03:00 January 6th, 2016|Colombia|

January 6 - 2016 On June 2015 Corona closed the acquisition of 100% of the sanitary ware business of Lamosa in Mexico, one of the leading producers and distributors in that market and with significant exports to the US and Canada markets. The business acquired has a production capacity of 3 million pieces / year from two production facilities located in Monterrey and in Benito Juárez. This acquisition is of strategic importance not only as it strengthens Corona's presence in the Mexican market - today served via exports from Colombia, but also as it complements Mansfield' operations in the US (Corona's US sanitary ware business). Please find below links to media articles here. Source: VICTORIA

Two Awards and the Same “CORONA”

2018-04-24T20:51:03-03:00 December 8th, 2015|Colombia|

December 8 - 2015 The Corona Group Received the Environment Protection Award and its President, Carlos Enrique Moreno, the Best Business Leader Award. Carlos Enrique Moreno tends to use an image to define the role of a leader who wants to motivate the members of his team. He says that it is like flying a kite, sometimes you have to pull the line and sometimes you have to release it. And this is just one of the multiple phrases that he usually tells to his subordinates to translate into a common language his work philosophy. The other key aspect, which some of the members of the Corona Group under his responsibility highlight, is the work example and commitment that he shows. "He likes to encourage and help his people develop," states the vice-president of Corporate Affairs, Ana María Delgado, who describes him as a person [...]

Ideal Invest cashes in on Brazilian students’ loans

2021-09-24T01:35:37-03:00 November 3rd, 2015|United States|

November 3 - 2015 A  deep recession might not be the most advantageous economic backdrop for a company offering student loans. But for Ideal Invest, a Brazilian student loans company that claims to be the biggest in the country’s private sector, the doldrums afflicting Latin America’s largest economy have been a boon. The reason? A much larger rival government student loan programme, known as Fies, has scaled back under a federal budget austerity programme. As access to the government programme has been tightened for students, the private sector has become more attractive. “These changes have been very good for us,” says Gabriel Haddad, finance director of Ideal Invest. The company was founded in 2001 by Oliver Mizne, a young entrepreneur who wanted to use financial markets to increase access to education for Brazil’s lower income groups. It followed the opening up of Brazilian higher education [...]

Corona among the Top Companies with the Best Corporate Reputation in Merco 2015

2018-04-24T20:54:23-03:00 October 26th, 2015|Colombia|

October 26, 2015 Corona among the Top Companies with the Best Corporate Reputation in According to the last assessment of the study Merco Empresas, Corona was qualified by entrepreneurs, journalists, labor unions and consumers as one of the companies with the best reputation in Colombia. Bogota, October 2015- In the 2015 Merco Empresas Colombia ranking, published by the monitor, Corona occupied the eleventh place among the top 100 companies with the best reputation, climbing up one place with respect to the study conducted in 2014. Likewise, it ranked first in the Industrial Sector. Merco is a world-wide reference which allows to evaluate the reputation of companies. This ranking is prepared annually based on a rigorous poll with the participation of high-level entrepreneurs, financial analysts, NGOs, labor unions, consumer associations and economics journalists. Accordingly, at the moment of evaluating companies, the monitor considers variables such as the quality [...]

Fondo de inversión toma el control de gimnasios Energy y Hard Candy Chile

2021-09-24T01:34:59-03:00 May 3rd, 2014|Chile|

May 3 - 2014 Tras casi un año de negociaciones, el fondo de inversión independiente Victoria Capital Partners concretó la semana pasada la compra de la mayoría del paquete accionario del holding chileno propietario de la cadena de gimnasios Energy, del gimnasio de Madonna -Hard Candy Fitness Chile- y de la firma proveedora de equipamientos Global Fitness Service (GFS). Así, Energy Fitness quedó conformada por Victoria Capital Partners como socio mayoritario y por el grupo minoritario que incluye al equipo ejecutivo de Energy ligado a Alex Wiesner (en la foto) y a Hudson Capital, la división de private equity de Hudson Bankers. Wiesner se mantendrá como presidente ejecutivo de la firma, liderando el plan de crecimiento de esta empresa de fitness multimarcas en Latinoamérica en el corto plazo. En Chile, los planes contemplan cuadruplicar la empresa en cinco años, sin incluir el programa de franquicias [...]

Organización Corona and Victoria Capital Partners enter into a strategic alliance to jointly accelerate development of Corona’s industrial business units

2018-04-24T20:57:16-03:00 February 13th, 2014|Colombia|

February 13, 2014 Organización Corona and Victoria Capital Partners announced they have entered into a strategic alliance under which Victoria Capital Partners will acquire a significant stake of the industrial business units of Organización Corona. These business units include Colcerámica, Sumicol, Corlanc, Nexentia, Locería Colombiana, Gamma and Almacenes Corona in Colombia; Mansfield, Corona Hotelware Corporation and Gamma Insulators in the USA; Incesa in Costa Rica, Guatemala, Honduras, Nicaragua and El Salvador; Corona´s stake in Compañía Suramérica de Cerámica de Brazil; the representative office in China and the commercial office in Mexico, among others This alliance will facilitate accelerating the growth and development of the different industrial businesses units of Organización Corona, not only in Colombia but also in other South American countries, positioning it as a solid multinational company. “We are very pleased that we have entered into this alliance. Victoria has an extensive and successful business [...]

Victoria acompañará expansión de Corona

2021-09-24T01:33:34-03:00 January 17th, 2014|Colombia|

January 17 - 2014 Con el fin de continuar con la expansión de su negocio industrial en Colombia y en otros mercados de la región, la Organización Corona firmó ayer un acuerdo en el que la firma Victoria Capital Partners adquirirá una participación minoritaria en la multilatina. Entre las filiales que entraron en el trato hay algunas en Colombia, Estados Unidos, Costa Rica, Guatemala, Honduras, Nicaragua, El Salvador, Brasil, China y México. La alianza se hizo con la asesoría exclusiva de Rothschild para Corona en la transacción. Según el presidente de la Organización Corona, Carlos Enrique Moreno, la alianza tiene un gran potencial de crecimiento para las dos partes. "Estamos muy contentos de haber logrado cerrar esta alianza. Victoria tiene una amplia y exitosa experiencia de negocios en diversos países y sectores y estamos seguros de que su trayectoria será de gran valor y aporte [...]

Victoria, el nuevo socio de Corona

2021-09-24T01:33:04-03:00 January 16th, 2014|Colombia|

January 16 - 2014 Después de más de un siglo de mantener la totalidad del negocio en familia, la Organización Corona decidió aliarse con un socio estratégico para el segmento industrial de la compañía. La firma Victoria Capital Partners tendrá ahora asiento en la junta directiva de una de las empresas más grandes de Colombia. De acuerdo con el comunicado emitido por la organización, la alianza le dará participación al grupo Victoria en los negocios de Colcerámica, Sumicol, Nexentia, Erecos, Locería Colombiana, Gamma y Almacenes Corona. También tendrá su porcentaje en la participación de Corona en Corlanc y Minerales Industriales, en Colombia; Mansfield, Corona Hotelware Corporation y Gamma Insulators, en Estados Unidos, e Incesa, en Costa Rica, Guatemala, Honduras, Nicaragua y El Salvador. Además, tendrá una cuota en la participación de Corona en Compañia Suramérica de Cerámica de Brasil, la oficina de representación comercial en [...]