Investment group to acquire giant Mexico-based home builder
Advent International, a global investment and corporate buyout firm, will acquire Corporativo Javer, one of the largest privately held home builders in Mexico. Terms of the deal were not disclosed.
The deal includes all of Corporativo Javer’s housing subsidiaries and rights to the Corporativo Javer trademark, as well as related trademarks. Advent will not acquire Corporativo Javer’s industrial real estate business.
Founded in 1973, Corporativo Javer specializes in the construction of middle-income, low-income and residential housing. Advent said Corporativo Javer has key developments in growth markets, including Monterrey, Guadalajara, Aguascalientes and Reynosa.
“We see tremendous long-term growth potential for Javer, with its leading market position, experienced management team and positive trends in the Mexican housing market,” said Diego Serebrisky, a partner in Advent's Mexico City office.
Advent has made other investments in the Mexican housing sector -- in 2005, the firm acquired Hipotecaria Casa Mexicana, a specialized mortgage lender focused on the low- to middle-income housing market.