N+1 enters Latin America through Landmark Capital

N+1, an independent financial advisor specialised in the mid-market segment with a presence in Europe, the US and Asia, has entered the Latin American market thanks to the acquisition, in two stages, of 50% of Landmark Capital, a firm based in Chile with offices in Brazil, Colombia and Argentina, similarly specialised in the provision of financial advice to medium-sized companies. Landmark Capital was founded in 1998 and is one of the leading mid-market M&A advisors in Latin America.

“This transaction marks a major step forward for the N+1 Group by giving it a foothold in Latin America, a market with huge potential and close ties with Spain, the US and other European markets”, said Santiago Eguidazu, executive chairman of N+1, going on to add that, “Moreover, we are gaining entry to this market alongside Landmark Capital's partners, with whom we have had a solid relationship for more than 20 years”.

With this tie-up, Landmark will reinforce its market positioning: it will be able to offer its clients access to a broad universe of companies all over the world thanks to N+1's entrenched local teams (over 180 investment banking professionals). It will also be able to offer its customers a broader and more specialised service suite, underpinned by the N+1 Group's sector and product experts.

In the last five years, Landmark Capital has closed more than 40 transactions. The most notable transactions advised on by it in this period include the sale of 40% of Bci Seguros to Mutua Madrileña, the acquisition of City National Bank de Florida from Bankia, the sale of Pescanova's Chilean assets, the sale of a 70% interest in Instacredit in Central America and in Onest in Colombia and the sale of White Martins Soluções Ambientais on behalf of Praxair in Brazil. Landmark is characterised by its strategic focus on sell-side mandates, its broad regional reach - setting it apart from its local competitors - and a customer base dominated by large groups and family-owned companies who often turn to it in search of international partners.

Julio Cardenal, chairman of the Landmark Group, said “with this addition to our shareholder ranks, Landmark will have the chance to become the leading sell-side advisor in the Latin American mid-market and to offer its clients far more direct access to the rest of the world”. Julio Cardenal will join the N+1 Group's Investment Banking Division's Management Committee.

Lastly, N+1 and Landmark will strive to jointly leverage the success reaped by N+1 in the credit portfolio sale-purchase advisory business (19 transactions valued at €13.7bn in the last 24 months) by leveraging this line of business in Brazil, a market with huge potential in which Landmark already has a team and solid relations.