Issued by Aureos
Aureos Capital’s Emerge Central America Growth Fund (EMERGE) has invested in NiVa Euroequipos (NiVa), a Costa Rican company that specialises in the rental of construction equipment. The investment was made through a convertible loan.
The EMERGE Fund was set up by Aureos Capital Limited, a private equity fund management company specializing in investing in small to mid-cap businesses in emerging markets. EMERGE focuses on small and medium sized companies specifically in Central America and the Dominican Republic.
NiVa started operations in Costa Rica in 2005 selling and renting tower cranes. Since then it has expanded its product line to include formworks, scaffolding, and shoring equipment among others. NiVa represents leading European and Chinese equipment manufacturers in Costa Rica.
José Ulate, Partner for the EMERGE fund says: “NiVa is a company with a very capable and professional management and despite the problems in the construction sector it has an impressive track record so far and great potential. Our investment in NiVa will help to further grow the company, as demand for equipment rental is expected to pick up in the very near future, despite the global economic slowdown.”
Eduardo Vargas, Founding Partner of NiVa says: “Aureos’ investment will allow NiVa Euroequipos to consolidate its position in the Costa Rican market, open new markets and bring new products to its existing customers. Despite the global downturn, we expect to see higher growth rates in the near future and with Aureos on board we will be able to tap into this growth.”
“Also, with Aureos’ support we expect to improve our corporate governance, financial management, and our safety and security practices.”
The investment in NiVa is the 4th transaction of the EMERGE fund.