(Alta Growth Capital) May 9, 2011 – Alta Growth Capital, a leading provider of growth equity to Mexican middle market companies, announced a minority equity investment in Bunker’s Group, the leading marine oil distributor in Mexico. Terms of the private transaction were not disclosed.
Bunker’s will use the new investment from Alta to significantly increase its installed capacity, taking advantage of Mexico´s privileged geographical location, and consolidate its leadership in the underserved marine oil market in Mexico. Marine oil distributors provide fuel to local and international ships, however, lack of local infrastructure, and artificial pricing mechanisms prevented foreign ships from considering Mexico as a refueling location.
“Refueling of International fleets in Mexico is a market with tremendous growth potential as a result of recent changes in pricing regulation,” said Luis Medina, CEO of Bunker’s, adding that “Alta’s investment will allow us to install additional infrastructure needed to meet increasing demand by international clients.”
Bunker’s is the leading marine oil distributor in Mexico and the first to be privately owned. Founded by Ricardo Ruiz, Emilio Martinez and Luis Medina, the company began in 1993 when PEMEX granted it a license to buy/sell and distribute marine oil in Mexico. Bunker’s operates from fixed terminals and refueling vessels in all major Mexican ports.
Alta Growth Capital manages a private equity fund focused on investments in middle market companies in Mexico. Alta applies its private equity, transactional, and operational experience to help their portfolio companies achieve success and provide attractive returns to their investor.