Valeo Capital Partners acted as exclusive sellside financial advisor to Industrias Bioquim on its sale to UPL Limited in a landmark cross-border M&A deal that involved selling businesses covering 7 countries of Central America and the Caribbean (Costa Rica, Nicaragua, El Salvador, Honduras, Panama, Dominican Republic and Cuba). The deal represented one of the largest single foreign direct investments by an Indian company in Central America.

UPL Limited, headquartered in Mumbai, India, is one of the largest agrochemical companies in the world with a presence in 130 countries. It is a public company listed on the Mumbai stock exchange

Industrias Bioquim, founded in 1987 and based on Costa Rica, is a leading manufacturer of crop protection in the Caribbean and Central American Region, owning a comprehensive portfolio of product registrations for herbicides, insecticides and fungicides. These are used on pineapple, banana, coffee and other important crops in the region. It has an annual turnover in excess of USD 20 million.

Theodore Mills, Managing Director of Valeo Capital Partners commented: “This was a complex transaction as it involved several interested buyers from around the world. Negotiating the deal with a sophisticated multi-national company like UPL Limited required an incredible amount of focus from the Valeo deal team and we were delighted to achieve a successful exit for our client.”

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Link to local Costa Rica press article: