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Clairfield advises Te Creemos shareholders on its acquisition of CAME

Te Creemos, a specialized financial institution that provides comprehensive financial services to the unbanked Mexican population and to small and micro enterprises, acquired 100% of the outstanding shares of CAME, a microfinance company with presence in 31 states of the Mexican Republic.

Te Creemos, S.A. de C.V. Sociedad Financiera Popular provides financial products and services for the low-income population of Mexico. It offers savings accounts; and individual, home improvement, and small and medium enterprise loans. The company also provides communal banking services that include provision of finance for women owned small businesses. It serves businesses engaged in woodworking, furniture, grocery, and textile activities. The company was founded in 2005 and is based in Mexico City.

Consejo de Asistencia al Microemprededor, founded in 1993, is one of the oldest microfinance entities in Mexico. Prior to the acquisition it was the fourth largest microfinance company in the country.

Came was a direct competitor to Te Creemos. With this acquisition Te Creemos doubles in size, becoming the second largest SOFIPO (Sociedad Financiera Popular – People´s Finance Corporation) in Mexico. The enlarged company will serve 660,000 customers with a portfolio of 4.7 billion pesos (EUR 210 million). Given the name recognition of the brands, both businesses will continue to operate under their own names, however they will be able to leverage on the products and services offered by both.

Microfinance is a growing and fragmented business in Mexico and further consolidation is expected.

Te Creemos acquired three other companies in recent years, all advised by Clairfield International in Mexico.

Financial Institutions

Drapeau Mexico

Acquisition

Advisor to the buy side

Services :

Mergers & acquisitions

Sectors :

Financial Institutions

Countries involved :

Mexico

Deal team :

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