Increased inbound M&A in Latam

Medium and large Latin American law firms are active in Latin America in response to the interest of foreign companies in innovative startups that can take a leap forward with the help of experienced partners abroad. There are also firms supporting international companies that want to position themselves in a strategic continent, which has suffered from the slowdown caused by Covid, among other causes, and has companies now willing to consider partnerships or sales. 

A recent case is that of Waterlogic - a company operating in the purified drinking water dispenser industry and with a presence in Europe, America and Australia - which recently acquired the holding company Quality Water Service (QWS) and its companies in Puerto Rico, Chile and Colombia.  This process, which required careful consideration of the peculiarities of four different jurisdictions, was advised by a team of legal firms led by the Chilean law firm NLD.

The acquisition agreement adds further value to Waterlogic, the acquiring company, by establishing a direct presence in Puerto Rico and supporting its growth in the Chilean and Colombian markets, leveraging QWS’ capabilities and customer base.  

NLD acted as lead counsel, while McConnell Valdés, DLA Piper Martínez Beltrán, and Skadden Arps Slate Meagher & Flom (UK) LLP acted as co-counsel to Waterlogic. Raymond James & Associates, Inc. acted as financial advisor, and Ferraiuoli LLC acted as legal advisor to QWS.

The transaction, led by NLD’s Paulo Larraín, was in his opinion "a complex and very interesting challenge from a legal point of view, as it involved leading the coordination of legal teams from jurisdictions in Europe, Central and South America". 

In addition to partners Paulo Larraín and Manola Quiroz, four members of NLD participated in the acquisition process: Labour practice director Juan Pablo Mesías, as well as associates Bernardita Calvo, Valentina Novoa and Vicente García.