As part of its continuing campaign to sell most of its GE Capital assets, GE has signed an agreement to sell its equipment lending and leasing business in Mexico to Linzor Capital Partners. The transaction includes employees of the business and represents an aggregate GE net investment of approximately $1.1 billion.
This is the second transaction that Linzor has conducted with GE. In 2011, Linzor acquired GE Capital’s Trailer Fleet Services business in Mexico.
“We are pleased to sell our equipment finance business in Mexico to Linzor, a private equity firm that we know well and is fully committed to investing and growing in the Latin American financial services industry,” said Keith Sherin, GE Capital chairman and CEO. “Linzor values our domain expertise and customer relationships, which is a testament to the hard work of our GE Capital teams in Mexico.”
Linzor Capital focuses on Latin American middle market investments. Sectors of interest include finance, education, industrial, retail, and consumer finance. With the closing of its third fund, LCP III, in May 2015 totaling $621 million, Linzor has raised over $1.2 billion of capital commitments since inception. Linzor was founded in 2006 and has offices in Santiago, Mexico City, Bogota, and Buenos Aires (www.linzorcapital.com).
Citigroup Global Markets (www.citigroup.com) provided financial advice to GE Capital.
© 2015 PEPD • Private Equity’s Leading News Magazine • 12-8-15
