(Alta Growth Capital) November 14, 2012 – Alta Growth Capital announced that Javier G. Teruel and Javier Garcia-Teruel, co-founders of Spectron Desarrollo, have agreed to join forces with Alta Growth Capital in Mexico. Founded in 2006, Alta Growth Capital is a leading private equity firm focused on growth equity investments in middle market companies in Mexico.
Javier G. Teruel joins Alta Growth Capital as Chairman. Most recently, he has been engaged in private equity investments at Spectron since its founding in 2007. Prior to co-founding Spectron, Mr. Teruel had a long and distinguished career with Colgate Palmolive. Starting with Colgate in the early 1970’s, he was eventually appointed to several leadership positions within the company including President of Colgate Mexico, President of Colgate Europe, Executive Vice President responsible for Asia and South Pacific, Central Europe/Russia and Africa/Middle East, and then culminating with his appointment as Vice Chairman worldwide. Since retiring from Colgate Palmolive in 2007, Mr. Teruel has remained active on several Boards, including current Board positions with Starbucks, JC Penney and the Nielsen Co. Javier Garcia-Teruel joins Alta Growth Capital as a Managing Director. Since 2007, Mr. Garcia-Teruel has led multiple private equity investments in Mexico at Spectron, including an investment in La Loma, a provider of ice cream mix and dairy products for bakeries. Prior to that, he worked several years in management consulting with McKinsey & Company after receiving his MBA from Harvard Business School.
The addition of Mr. Teruel and Mr. Garcia-Teruel builds on the existing team at Alta Growth Capital that has been successfully investing in the Mexican market. “We believe the addition of the two Javiers not only serves to increase our investing capacity, but their deep operating and business analysis experience will provide tremendous insight in evaluating new investment opportunities and assisting existing portfolio companies in improving their operations,” said Scott McDonough, Managing Director and co-founder of Alta Growth Capital. “We were looking to join a group with an institutional platform and a top reputation in Mexico. We found that in Alta Growth Capital. We believe that together we are positioned as a leading team in one of the most dynamic emerging markets in the world today,” said Javier G. Teruel.
Mexico has recently received publicity touting it as one of the top countries for investment among emerging markets. Mexico’s GDP outgrew Brazil’s in 2011 and is on track to do the same this year with most analysts predicting growth approaching 4% for Mexico in 2012. Mexico’s stable economy, low levels of debt, favorable demographics and potential for reform with a new administration has led some analysts to predict that Mexico will surpass Brazil as the largest economy in Latin America within the next decade.
About Alta Growth Capital (www.agcmexico.com)
Alta Growth Capital, founded in 2006, is led by Erik Carlberg and Rafael Payro, formerly partners with Baring Latin America Partners, and Scott McDonough, an entrepreneur from the United States. With an investor base that includes U.S. and Mexican institutions, Alta provides growth equity to small and medium-sized businesses that are poised to take advantage of the high growth opportunities in the Mexican market.
About Spectron Desarrollo (www.spectron.com.mx)
Spectron Desarrollo was founded in 2007 by Javier G. Teruel, Javier Garcia-Teruel and Luis Ruvalcaba to produce positive economic development in Mexico through investment and consultancy. In the future it will continue to grow its public policy consulting service that assists governments in achieving greater efficiency and social benefit for their programs, and in the area of impact investing, which includes a seed investment program focused on companies with high social impact potential.