- Partnership will strengthen NEORIS’ digital transformation
services and international presence
- CEMEX to remain a key strategic partner and customer of NEORIS,
supporting CEMEX's efforts to provide a superior customer
experience enabled by digital technologies
- Under the new partnership, Advent will hold a majority stake in
Neoris
CEMEX, S.A.B. de C.V. (“CEMEX”) and Advent International
(“Advent”) announced today that Advent, one of the largest and most
experienced global private equity investors, will partner with
CEMEX to accelerate the growth and development of NEORIS. As a
global provider of tech consultancy and digital transformation
services, NEORIS will strengthen its capabilities and reach through
Advent’s expertise in the space.
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Neoris offices - Miami, Florida. (Photo:
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With Advent’s support, NEORIS will deepen its focus on
cutting-edge, high-growth verticals such as artificial
intelligence, data science, cloud solutions, and automation, among
others. These verticals are aligned with CEMEX’s priorities for its
continued digital transformation. NEORIS will also continue
focusing on strategic industries such as financial services,
telecommunications, media, manufacturing, retail, and consumer
packaged goods, among others.
“We are thrilled to become shareholders of NEORIS. The
technological sector is growing fast and has relevant tailwinds for
this to continue going forward, as companies of all sizes embark on
the digital transformation journey. We are excited to be part of a
leading business in the sector such as NEORIS,” says Juan Pablo
Zucchini, Managing Partner of Advent.
“We are excited that Advent is investing in NEORIS, launching
the next stage of a journey that started two decades ago,” says
Luis Hernández, Executive Vice President of Digital and
Organization Development at CEMEX. “CEMEX remains committed to
leveraging digital technology to spearhead the evolution of the
building materials industry. This partnership strengthens NEORIS
and its role as a strategic ally for us.”
Founded over 20 years ago, NEORIS has successfully executed over
1,200 large-scale projects for more than 350 blue chip clients. It
currently has more than 5,000 employees located in 14 countries in
Latin America, USA, and Europe, working under a nearshore delivery
model.
“We are delighted to partner with NEORIS and CEMEX. NEORIS
provides a phenomenal value proposition to its ever-growing
customer base. We look forward to working together in this new
phase of accelerated growth and further internationalization,” says
Ariel Blumenkranc, Managing Director of Advent in Mexico.
"This is excellent news and a great opportunity to propel our
growth strategy," says Martin Mendez, CEO of NEORIS. "The arrival
of Advent is a reflection of our success, which we could not have
achieved without the support of CEMEX, our 5,000 employees, and our
customers. Our achievements and strategy have benefited from our
management team’s deep understanding of digital trends, industries,
and markets. We look forward to collaborating with Advent to grow
the business further and taking full advantage of the tailwinds of
the technology space. We also look forward to bringing new ideas
and our expertise to our ongoing relationship with CEMEX."
As part of the creation of the partnership, Advent will acquire
from CEMEX a 65% stake in NEORIS. CEMEX will retain a 35% stake and
remain as a key strategic partner and customer of NEORIS,
supporting CEMEX’s efforts to provide a superior customer
experience enabled by digital technologies.
Subject to satisfaction of closing conditions, including
approvals from antitrust authorities, Advent and CEMEX expect to
finalize the transaction during the second half of 2022.
About NEORIS
NEORIS, founded by CEMEX, is a digital accelerator and business
partner to some of the largest companies in the world. It has
provided tech consulting services for over 20 years and serves
clients across the globe. NEORIS has successfully executed over
1,200 large-scale projects for more than 350 clients. It provides
services in 14 countries, plus delivery centers and innovation labs
staffed with some of the best minds in the industry working hard to
create the future of business.
About Advent International
Founded in 1984, Advent International is one of the largest and
most experienced global private equity investors. The firm has
invested in over 390 private equity investments across 41
countries, and as of March 31, 2022, had $75.9 billion in assets
under management. With 15 offices in 12 countries, Advent has
established a globally integrated team of over 265 private equity
investment professionals across North America, Europe, Latin
America and Asia. The firm focuses on investments in five core
sectors, including business and financial services; health care;
industrial; retail, consumer and leisure; and technology. For over
35 years, Advent has been dedicated to international investing and
remains committed to partnering with management teams to deliver
sustained revenue and earnings growth for its portfolio
companies.
For more information, visit:
Website: www.adventinternational.com
LinkedIn: www.linkedin.com/company/advent-international
About CEMEX
CEMEX (NYSE: CX) is a global construction materials company that
is building a better future through sustainable products and
solutions. CEMEX is committed to achieving carbon neutrality
through relentless innovation and industry-leading research and
development. CEMEX is at the forefront of the circular economy in
the construction value chain and is pioneering ways to increase the
use of waste and residues as alternative raw materials and fuels in
its operations with the use of new technologies. CEMEX offers
cement, ready-mix concrete, aggregates, and urbanization solutions
in growing markets around the world, powered by a multinational
workforce focused on providing a superior customer experience,
enabled by digital technologies. For more information, please
visit: www.cemex.com
CEMEX assumes no obligation to update or correct the information
contained in this press release. This press release contains
forward-looking statements within the meaning of the U.S. federal
securities laws. CEMEX intends these forward-looking statements to
be covered by the safe harbor provisions for forward-looking
statements in the U.S. federal securities laws. These
forward-looking statements reflect CEMEX’s current expectations and
projections about future events based on CEMEX’s knowledge of
present facts and circumstances and assumptions about future
events, as well as CEMEX’s current plans based on such facts and
circumstances. These statements necessarily involve risks and
uncertainties that could cause actual results to differ materially
from CEMEX’s expectations, including the announced divestment to
not close or that NEORIS does not develop as expected. The content
of this press release is for informational purposes only, and you
should not construe any such information or other material as
legal, tax, investment, financial, or other advice. CEMEX is not
responsible for the content of any third-party website or webpage
referenced to or accessible through this press release.
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version on businesswire.com: https://www.businesswire.com/news/home/20220726005274/en/
NEORIS US MEDIA CONTACT:
Deborah Hartmann, Newlink (USA) Tel: +1 786 678 2249 Email:
Deborah.hartmann@newlink-group.com
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