(Press Release) Evolvere Capital, a private equity firm, announced the purchase of Emerson’s Network Power business in Venezuela. Going forward, the business will be a distributor for Network Power in the Venezuelan market.
“We are very excited to acquire the business in Venezuela of the world’s leading provider of critical infrastructure technologies and life cycle services for information and communications technology systems, which has the great responsibility of providing all-embracing solutions to the most critical needs of leading companies in the country, both local and multinationals,” according to a statement from Evolvere Capital in Venezuela. “We have been working together with the local team to give the company greater operational flexibility, strategic guidelines in accordance to the current business environment and other resources to achieve a better competitive position.
With this partnership, we guarantee that Emerson Network Power will maintain and enhance its proven track record in the Venezuelan market at the same time that the local company will be able to retain its human capital in the current Venezuelan environment. We are highly optimistic with our first transaction in Venezuela,” the statement concluded.
“We are very excited for our team in Venezuela and this new phase of our business. Evolvere Capital will bring years of successful management to our leadership team in Venezuela and their solid business ethics make them the best partners we could expect,” said Raphael Garcia, Vice President of Sales for Latin America, Emerson Network Power. “We foresee full continuity of business in Venezuela and Emerson Network Power will remain 100 percent committed to serve the Venezuelan market under the new distribution agreement. The new business model will allow Soluciones Integrales para Sistemas Críticos C.A. (SOLSICA), our exclusive distributor in Venezuela, to navigate the current economic environment in Venezuela.”