(Advent International) June 9, 2010 – Advent International, the global private equity firm, today announced that it has sold, together with other private shareholders including some members of the management team, approximately 82% of Scitum, S.A. de C.V. (d.b.a. Scitum Seguridad), a leading Mexican IT security services provider, to Teléfonos de México, S.A.B. de C.V. (“TELMEX”), the leading provider of telecommunications services in Mexico. The value of the transaction was not disclosed.
Founded in 1998 and located in Mexico City, Scitum Seguridad designs, implements and manages IT security services, offering consulting, integration and administrative support. The company also owns the largest security operations center in Mexico and serves customers throughout Latin America.
Advent originally invested in Scitum Seguridad in December 2006. Over the next three years, the company focused on increasing revenue and expanding its sales pipeline as well as improving profitability by adjusting its product mix to emphasize higher-margin offerings. During this period, revenue nearly doubled, EBITDA grew almost threefold and EBITDA margins increased over 40%.
“We are pleased with the outcome of this investment and believe that we have attained the growth objectives that were established for the company,” said Alfredo Alfaro, a Managing Partner in Advent’s Mexico City office.
Ulises Castillo, Scitum Seguridad’s founder, who remains an investor in the company, said, “Scitum Seguridad will benefit by being part of a larger organization and is well-positioned to take advantage of the continued growth of the IT market in Mexico. We are grateful to Advent International for their support in developing our business and look forward to working with the TELMEX team as we continue to expand throughout Latin America.”
Advent International in Latin America
Advent International is the leading private equity investor in Latin America. In April 2010, the firm announced the final close of its fifth Latin American fund, LAPEF V, at $1.65 billion. It is the largest private equity fund ever raised for Latin America and brings Advent’s total raised for the region to $5.1 billion. Since entering Latin America in 1996, Advent has invested in 40 companies across seven countries. In addition to Scitum Seguridad, notable investments led by the Mexican team include Aerodom, Dufry, DolEx Dollar Express, Gayosso, Hildebrando, Inmobiliaria Fumisa, International Meal Company (comprising La Mansión and other brands), Milano and Monte de México. Including the value of companies that Advent has sold, the combined enterprise value of its 40 Latin American investments has increased to more than $10 billion, and today these businesses employ over 60,000 people.
For more information, visit www.adventinternational.com.
About Scitum Seguridad
Scitum Seguridad designs, implements and manages IT security services, offering consulting, integration and administrative support. The company also owns the largest security operations center in Mexico and serves customers throughout Latin America. For more information, visit www.scitum.com.mx.
TELMEX is a corporation made up of Teléfonos de México, S.A.B. de C.V., its subsidiaries and affiliates that provides telecommunications services in Mexico. The company’s service coverage comprises the operation of the nation’s most complete local and long-distance networks. Additionally, TELMEX offers services like connectivity, Internet access, co-location, web hosting and interconnection services to other telecommunications operators. More information about TELMEX can be accessed on the Internet at www.telmex.com.