(Press Release) Global alternative asset manager The Carlyle Group (NASDAQ: CG) announced the acquisition of 85.42 percent of Hermes, a Peru-based cash management company, from Inversiones Centenario, Scotiabank.
Global alternative asset manager The Carlyle Group (NASDAQ: CG) announced the acquisition of 85.42 percent of Hermes, a Peru-based cash management company, from Inversiones Centenario, Scotiabank and a partial stake from the Wiese and De Osma family groups. Terms of the transaction, which is expected to close this month, were not disclosed. Marco Peschiera, Managing Director and Head of Carlyle Peru Fund (“CPF”), commented, “We are very pleased to acquire an outstanding company and at the same time to partner with two of the most traditional family groups in the country, the Wiese and De Osma families, who have contributed to the growth and development of Peru for several generations. We look forward to building on all they have accomplished.”
Juan Carlos Felix, Managing Director and Co-Head of Carlyle South America Buyout Fund (“CSABF”) said, “The rich history of Hermes in the Peruvian market, combined with its outstanding management team and strong employee base, make this an attractive company. We are excited as well about its current fair trade policies consistent with the spirit of the new shareholders, who value healthy competition in the market.”
Hermes is a company with 30 years of activity in the Peruvian market and this is a strategic acquisition within the CPF portfolio.
Hermes provides cash in transit services, processing and custody of money, document management, mining services, messaging, collections and payments. It employs 2,800 highly trained personnel serving customers using certified procedures and has a robust physical infrastructure and management system.
Equity capital for the transaction is being provided by Carlyle Peru Fund and Carlyle South America Buyout Fund.