Ropes & Gray Advises The Carlyle Group in its Sale of Hermes Transportes Blindados S.A.
Ropes & Gray advised investment funds affiliated with The Carlyle Group in the sale of Hermes Transportes Blindados S.A. to investment funds affiliated with CVC Capital Partners for an enterprise value of approximately USD$400 million. The transaction was announced closed on January 7, 2020 after CVC launched a tender offer on December 3, 2019. The Carlyle Group’s press release regarding the transaction can be found here.
Based in Lima, Peru, Hermes is a leading provider of cash management services with a nationwide network of 18 branches, 228 armored vehicles and over 3,700 employees. The company offers valuable logistics, cash processing and custody services to a blue chip client base comprised of more than 1,000 active clients in the financial, retail, utilities and mining segments. Hermes is a mission critical partner to the largest financial institutions and retail organizations in Peru. Carlyle invested in Hermes through its Carlyle Peru Fund and Carlyle South America Buyout Fund in 2015.
The Ropes & Gray team that advised The Carlyle Group was led by private equity partner Garrett Charon (New York) and included tax partner David Saltzman (Boston), and litigation & enforcement partners Colleen Conry (Washington D.C.) and Amanda Raad (London) as well as litigation & enforcement counsel Sean Seelinger (London).