Mexican private equity firm Discovery Americas has signed an agreement to invest in Mas Air, an airline specialized in the shipment of air freight in Latin America and the US.
(Press Release) On November 30th, 2018, Discovery Americas, via its investment vehicle DAIV (BMV: DAIVCK16), executed an investment in Mas Air, one of the leading players in the air cargo industry in Mexico. The air cargo space is growing rapidly, driven by strong underlying demand for air freight services by clients worldwide, with attractive opportunities for local and international expansion going forward.
In line with our long-term investment strategy, the air cargo space is one of our target industries. This investment consolidates Discovery America´s positioning in the transportation and logistics sector in Mexico and provides access to one of the most attractive sub-industries within the broader space”, said Alberto Moreno, founding partner of Discovery Americas.
Mas Air is an airline specialized in the shipment of air freight. The company began operations in 1992 and provides air cargo services to clients principally in Latin America and the United States, operating over 600 flights which move more than 40,000 tons of air cargo annually.
Discovery America’s investment in Mas Air confirms our mutual conviction and passion for the world of transportation and logistics, as well as specialized air freight services, which play a key role in the dynamic import-export market in Latin America”, said Luis Sierra, CEO of Mas Air.
With this investment, Discovery Americas increases its presence in the transportation and logistics space, one of the target sectors of the firm. Previously, Discovery Americas has invested in other sectors, including education, healthcare, and financial services.
As the result of this investment, LATAM Airlines Group ceases to be an indirect shareholder of Mas Air.
Discovery Americas received legal advisory services from Ritch Mueller and DMTax, while KPMG provided financial due diligence services. The counterparty’s legal advisors were DRB Abogados and Turanzas Bravo & Ambrosi.