MEXICO Law and Practice Contributed by: Gabriel Robles, Héctor Cárdenas, Eric Silberstein and Eduardo Aiza, Ritch Mueller
Ritch Mueller Av. Pedregal 24 10th floor Molino del Rey 11040 Mexico City Mexico Tel: +52 55 9178 7000 Email: contacto@ritch.com.mx Web: www.ritch.com.mx
1. Transaction Activity 1.1 Private Equity Transactions and M&A Deals in General During 2024, the total M&A value targeting Mexican assets rose by approximately 8%, although the deal volume fell with respect to 2023. The M&A activity slowed down during the first half of 2025 in both value and volume but with a surge in the industrial sector, boosted by nearshoring trends, as well as the fintech sector. Mexico’s strategic geographic localisation, rel - atively large population, and proximity to the United States, resulted in companies seeking to acquire local capabilities, secure supply chains, and meet regional content requirements. International investors, includ - ing, although at a minor level, European, Asian, and Middle Eastern, are aiming Mexico as a prime destina - tion for manufacturing (with special focus on shelter companies) and logistics activities. Due to the recent regulatory changes and reforms (judicial, energy (with an emphasis on electricity), anti - trust and telecommunications regulation, and AML, among others) enacted during the last 12 months by the Mexican government, in addition to foreign policy changes, macroeconomic headwinds are still present. Private equity deals may remain limited in volume through 2025, especially while tariffs and public poli - cy uncertainty persist. However, high-growth sectors (such as fintech, technology, e-commerce, healthcare, infrastructure, and logistics) continue to attract foreign investment for selective opportunities in Mexico. Large and cross border M&A is projected to rebound grad -
ually, especially as regulatory clarity improves, and industrial investment related to nearshoring expands, thus creating opportunities for other strategic sectors, such as energy and infrastructure. As is the case in the United States, foreign investors (including private equity funds) have begun explor - ing transactions in the sports sector in Mexico and, while limited as to the number of transactions, over time more M&A transactions in the sports sector have closed, including at least two over the first half of 2025. The Mexican peso gained ground during the first half of 2025 after a significant depreciation during 2024. This phenomenon initially deterred foreign acquisi - tions, but ultimately the rate cuts made by the Cen - tral Bank eased financing costs, which enhanced the appeal of investments in Mexico and boosted foreign investment rapidly. The lack of investment, during the previous adminis - tration, in the energy and infrastructure sector, creates an important investment opportunity for strategic and private equity investors, which has been recognised and prioritised by the current administration. 1.2 Market Activity and Impact of Macro- Economic Factors Over the past 12 months, the Mexican private equity market has experienced a period of recalibration and uncertainty. This trend is consistent with a broader deceleration in local private equity activity, particularly in equity investments. However, mid-market activity
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