Searchfunds in Mexico

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October 23, 2023

by a searcher from IPADE in Mexico City, Mexico

Hoping to learn from those of you who have had success approaching business owners about purchasing their off-market company in Mexico: What works well in that initial conversation/outreach? What doesn't? Though I've started just recently I've had a mixed bag of results thus far, so I'm anxious to learn some new techniques or strategies.

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Reply by a searcher
from London Business School in Mexico City, CDMX, Mexico
I am searching in the US and through brokers mainly. In my past life we did only proprietary deals and my biggest recommendations are that you are patient, build like and trust relationships, be direct but not pushy, and try to figure out a reason why the owners of the target company might be willing to sell. Proprietary deals will take 24+ months, so ensure you have enough time. The alternative is to build relationships with investment bankers and participate in their processes.
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Reply by a searcher
from Cornell University in Monterrey, N.L., México
Mexican business owners don't open up as easy as in other countries. It helps way too much if they can track someone on your investor base or board that they know or that is renowned in the business community. Finding connections in common would be one good recommendation I could give you.
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