Siuma Capital Latin America (“Siuma Capital”) announced that it served as exclusive financial advisor to the shareholders of Silaba Motors S.A. (“Grupo Silaba”) in the sale of 100% of its’ shares to Sojitz Corporation (“Sojitz”). Grupo Silaba is the leading multi-brand automotive distributor in Panama with exclusive distribution of landmark brands, such as Kia and Mazda, and the second highest market share in the country. Sojitz is a world-class Japanese trading company with a robust global presence through its’ 420 subsidiaries.
This transaction is Sojitz’ first direct investment in Panama and it signals their strong long-term commitment to doing business in the country and the region. The acquisition not only included the auto sales and after-sales businesses but also other ad-hoc assets such as its’ auto-insurance brokerage operation, a bonded warehouse, a state-of-the-art distribution center and a set of strategically located properties across Panama. Sojitz currently operates in other LatAm markets such as Puerto Rico, Mexico, Argentina, and Brazil.
In the automotive industry, the conglomerate has ample experience globally and works with some namesake brands such as Hyundai, BMW and Subaru. The Grupo Silaba acquisition furthers their commitment to the industry as it introduces Sojitz to six important brands that it previously did not distribute.
Samuel Urrutia, Managing Director of Siuma Capital, mentioned the following about the deal: “We would like to thank our client, Grupo Silaba, for trusting us during every step of such an arduous and extensive negotiation process. We are thrilled both for our client and for Sojitz as we wholeheartedly believe that the transaction is an absolute win-win for the parties.”
This landmark cross-border transaction showcases the attractiveness of the Latin American automotive industry for global investors – something Siuma Capital experiences regularly through conversations with global industry leaders looking to invest in the market.
Along these lines, Ricardo Urrutia, Vice President and Head of Auto at Siuma Capital, added: “the automotive industry in our region continues to be highly attractive for consolidators from across the globe. As mobility trends are changing the industry at an unprecedented rate, local players look to partner with world-class corporations to take the company to the next level. I am confident that the Sojitz team will bolster Grupo Silaba’s management’s mammoth efforts to constantly transform the company into a best-in-class, vertically integrated mobility company.”
The success of this transaction showcases the professionalism, industry expertise and technical competence of the Siuma Capital team as well as its’ ability to juggle complex M&A deals with multiple stakeholders in different jurisdictions. Moreover, the firm’s ability to identify, seek and introduce the ideal partner for Grupo Silaba demonstrates the extensiveness of Siuma’s global network of investors.
About Grupo Silaba: Grupo Silaba is the local leader in multi-brand vehicle distribution in Panama, marketing mobility and micro mobility products and services, with more than 30 years of history. It exclusively distributes nationwide leading and high growth brands such as Kia, Mazda, Omoda, Jaecoo, Karry & Niu through 8 branches, with more than 400 employees, a vehicle storage area, a spare parts distribution center, insurance brokerage services and a digital financing platform.
About Sojitz Corporation: Sojitz Group is engaged in a wide range of businesses globally, including manufacturing, selling, importing, and exporting a variety of products, in addition to providing services and investing in diversified businesses, both in Japan and overseas. Sojitz operates with a 7-division structure comprising the Automotive Division; the Aerospace & Transportation Project Division; the Infrastructure & Healthcare Division; the Metals, Mineral Resources & Recycling Division; the Chemicals Division; the Consumer Industry & Agriculture Business Division; and the Retail & Consumer Service Division. It has more than 20 thousand employees and more than 420 subsidiaries around the world.
