Nexxus Capital performed the initial public offering of Mexican logistics and cargo company Grupo Traxión on the Mexican Stock Exchange at MXN$17 per share.
(Press Release) Nexxus Capital is proud to announce that on September 28, 2017, Grupo Traxión, S.A.B. de C.V. performed a global offering consisting of an initial public offering of its shares on the Mexican Stock Exchange and through an international distribution under the Rule 144A of the U.S. Securities Act of 1933. One hundred percent of the offering was primary, placing its shares under the ticker “TRAXION”, at a price of MXN$17.0 per share.
At such price, the aggregate value of the offering was MXN$4,065.2 million without including the over allotment options granted to the underwriters by the Company, and MXN$4,543.0 million considering the over allotment options.
On October 2016, Nexxus Capital, through Nexxus Capital Private Equity Fund VI, L.P. and Nexxus VI CKD (jointly “Nexxus VI”) partnered with an experienced group of investors, with Aby Lijtszain as CEO, and Discovery Americas, being one of the first investments in Mexico that brought together several private equity funds, to create Grupo Traxión, S.A.B. de C.V. (“TRAXIÓN”), a platform of leading companies in the logistics, cargo, personnel and student transportation sectors.
TRAXIÓN is the largest and most recognized transportation platform in the logistics, cargo, and contracted personnel and student transportation sectors in Mexico, operating a fleet of nearly 5,000 power units with national presence. The company operates in two complementary business segments under several brands, which includes Egoba, MyM, Grupo SID, AFN and Lipu.
The management team of TRAXIÓN has an extensive history of success, achieving sustainable growth through the years creating the first and only company to consolidate the ground transportation and logistics industries in the country. TRAXIÓN transports more than 150 million passengers and travels more than 345 million kilometers per year.
The net proceeds received from the global offering are intended to be destined to the development and growth of the company, through organic and inorganic growth via the acquisition of power units and potential M&A opportunities, respectively.