Creation Investments' Mexico Portfolio Company Te Creemos to Acquire Banco Forjadores

CHICAGO, Dec. 15, 2020 /PRNewswire/ -- Creation Investments Capital Management, LLC, a Chicago-based private equity firm specializing in impact investments in financial services, today announced its portfolio company Te Creemos Holding S.A.P.I. de C.V. has reached an agreement to acquire Banco Forjadores S.A., Institución de Banca Múltiple, from Peru-based Grupo ACP Corp. S.A. Both firms are based in Mexico City, and the acquisition is subject to regulatory and anti-trust approval in Mexico.

Since Creation's initial investment in 2015, Te Creemos has made six acquisitions and its loan portfolio has increased five-fold, reaching MXN 5.5 billion (US$275 million). Te Creemos continues to report positive results and portfolio growth throughout 2020.

The new investment in Banco Forjadores reflects Te Creemos' long-term strategy to increase and improve access to financial services for the bottom of the socio-economic pyramid in Mexico. Upon closing, Banco Forjadores will represent Te Creemos' third acquisition in 2020 and seventh since 2015.

"This agreement reflects our positive views on Mexico and our level of confidence in the great potential of the microfinance sector," said Jorge Kleinberg, CEO of Te Creemos Holding.

"We are thrilled to support Te Creemos in this upcoming investment and are enthusiastic about its long-term potential to address the financial inclusion gap through a banking license, with profitability and high social impact," said Patrick Fisher, founder and managing partner of Creation Investments.

"The Te Creemos management team has shown a unique expertise to successfully execute M&A transactions and integrate teams into the platform. We are honored to work alongside them to reshape the microfinance industry in Mexico," said Amadeo Ibarra, Creation's Mexico country head.

About Te Creemos Holding

Te Creemos Holding S.A.P.I. de C.V. is the controlling entity of two regulated financial institutions in Mexico (SOFIPOS): Te Creemos S.A. de C.V. SFP and Consejo de Asistencia al Microemprendedor S.A. de C.V. SFP (CAME). The company has a consolidated loan portfolio of MXN 5.5 billion (US$275 million), with 550 branches in 31 states, over 600,000 clients and more than 8,000 employees. For more information, visit www.tecreemos.com.

About Creation Investments

Creation Investments Capital Management, LLC, based in Chicago, is a leading impact investment management company dedicated to private equity investments in the financial services industry in developing markets. The firm manages over US$700 million in private funds and other vehicles on behalf of individuals, family offices and institutional investors. Leveraging its deep industry experience, Creation partners with management teams to inject growth equity and facilitate buyout transactions in firms specializing in microfinance, small- and medium-enterprise credit, leasing, factoring, insurance, savings, payments, and mobile money. For more information, visit www.creationinvestments.com.

SOURCE Creation Investments Capital Management, LLC