Alta Growth Capital announces investment in Grupo Corcimex

Mexico City, Mexico, June 28, 2024 – Alta Growth Capital (“AGC”) announced today their investment in Grupo Corcimex, S.A. de C.V. (“Grupo Corcimex” or the “Company”), a well-established niche textile manufacturer of webbings, ropes, twines, and cords, which is poised to continue benefiting from nearshoring tailwinds. The Company, along with its subsidiaries Facomex, founded in 1949, and Textiles Santa Susana, founded in 1964 by Don Germán Mercado Barroso, is engaged in the manufacturing of high-quality products for the global narrow fabrics and cordages industry.

Adding to the decades of experience of Corcimex under the Mercado family, AGC aims to support institutionalization and expand avenues of growth. Erik Carlberg, Managing Director of AGC, highlighted, “this acquisition aligns with our strategic vision, and we are excited about the potential for Grupo Corcimex to further solidify its market position and achieve sustainable growth through targeted initiatives and operational enhancements.”

Enrique Mercado, former CEO and current board member, emphasized, “In collaboration with AGC, we will focus on achieving the group’s growth, leadership, and consolidation objectives.”

“Grupo Corcimex offers a very efficient platform for clients targeting both domestic and international markets across a variety of industries,” added David Oscos, principal at AGC. “With the growing need for adjacent manufacturing hubs, Mexico is positioned as a clear destination for expanding capacity.”

The investment in Grupo Corcimex represents AGC’s seventh investment from its Fund III.

About Grupo Corcimex

With a legacy of over 70 years, Grupo Corcimex prides itself in being one of Mexico’s leading niche textile manufacturing companies, catering to domestic and international clients through two verticals:

Textiles Santa Susana – Offers a wide range of products in narrow fabrics, including webbing tapes and knitted and braided cords, serving industries such as bulk bags (agriculture), footwear, clothing, textiles, cargo systems, safety, transportation, retail and construction.

FACOMEX -– Offers twisted, braided, and plated ropes, and cargo and safety nets for sectors including offshore marine applications, industrial, nautical, retail and sports applications, among others.

Corcimex’s state-of-the-art facilities, commitment to quality and exceptional service, and competitive pricing and reliability have enabled it to establish itself as a market leader in Mexico. The Company was awarded the National Export Award in 2009 and 2019 and holds different certifications such as ISO 9001:2015, OCIMF, Merchant Marine, and Loyd’s Register.

About Alta Growth Capital

Alta Growth Capital manages private equity funds focused on buyouts and growth equity for well-positioned middle market companies in Mexico and Latin America. AGC has invested in 21 companies since 2007 and is now investing out of its Fund III.