The Rohatyn Group (TRG) acquired a majority stake in Argentine mining services company, Eco Minera, for an undisclosed amount.
(Press Release) The Rohatyn Group (“TRG”), an emerging markets asset management firm, announced the successful completion of its acquisition of a majority stake in Eco Minera (the “Company”), one of the largest independent mining services companies in Argentina, through the TRG Argentina Private Equity Fund. Founded in 1996, Eco Minera specializes in drilling and soil movement services, and provides drilling services to exploration and production mining projects located in the largest mining provinces in Argentina.
TRG Managing Director Roberto Chute said, “Eco Minera has an excellent reputation with a successful 20-year track record and extensive industry knowledge. The Company has become one of the largest mining services company in Argentina on the basis of providing timely, reliable and efficient service to its clients. We are excited to further propel Eco Minera’s growth.”
TRG CEO Nick Rohatyn added, “The implementation of economic policy reforms by President Mauricio Macri has marked an important watershed in Argentina’s investment environment. The mining industry, which is still in early stages of development and remains heavily unexplored, shows particular promise for further investments due to the recent transition to a market-friendly administration.”
Enrique Martin, one of Eco Minera’s founders commented, “We are pleased to partner with a firm of TRG’s caliber and feel strongly that their support will be instrumental in our expansion plans. We will also look forward to leveraging their expertise in strengthening corporate governance to further enhance our best practices.”