Family office Beamonte Investments has committed MXN$1b to Axman Holdings, a Mexico-based holding company focused on manufacturing investments in Mexico and Canada.
(Press Release) Beamonte Investments, Boston’s leading investment firm, and its affiliates (¨Beamonte¨) announced they have committed MX $1B over the next two years to Axman Holdings (¨Axman¨), a diversified company focused on manufacturing investments in Canada and Mexico.
Axman Holdings is a new company looking to take advantage of the arbitrage of NAFTA with the current geo-political situation focusing on distressed manufacturing companies in Canada and Mexico. Axman will be headquartered in Mexico City with offices in Toronto, Ontario.
Eliminating the North American Free Trade Agreement (NAFTA), which was crafted by former President Bill Clinton and enacted in 1994, was a frequent Trump campaign promise. The deal was intended to eliminate most trade tariffs between the three nations, increase investment, and tighten protection and enforcement of intellectual property. U.S. manufacturing exports to Canada and Mexico, the United States’ two largest export markets, increased 258 percent under the agreement.
“Building on Beamonte’s expertise in analyzing and managing performance risk, we believe Axman Holdings will offer many incumbents the ability to modernize their plant operations and equipment in order to become more institutional, efficient and Profitable,” said Luis Felipe Trevino, Senior Managing Director at Beamonte Investments and Chairman of the Board of Axman Holdings.