Prosegur calls upon EY Law and Garrigues for Central America expansion

EY Law in Costa Rica, El Salvador, Guatemala, Honduras and Nicaragua as well as Garrigues in Colombia advised Prosegur on its acquisition of Grupo Almo´s CIT assets.

Prosegur is a multinational focusing on the private security sector and with headquarters in Madrid. The company has three business lines, Prosegur Alarms, Prosegur Security and Prosegur Cash. The latter led the acquisition. 

Grupo Almo is based in Guatemala City and provides commercial security and logistics services. It operates two cash-in-transport brands: Proval and Transval brands. While the value of the deal was not disclosed, the activities of Proval and Transval in the last fiscal year available represented a turnover of close to $40 million. Proval and Transval operate a fleet of more than 250 armoured vehicles and employ over 2000 staff in more than 20 bases and logistics centers across Central America. 

With this transaction, Prosegur Cash expands its presence to 20 countries and increases its workforce to close to 60,000 people.

Partners Ruby Asturias in Guatemala and Hernán Pacheco in Costa Rica led the team at EY Law advising Prosegur. The team included other senior lawyers and managers in Costa Rica, El Salvador, Guatemala, Honduras and Nicaragua. 

Garrigues advised Prosegur under Colombia law, with Bogotá partner Ignacio Londoño on a lead role. 

Grupo Almo instructed lawyers at Lloreda Camacho in Colombia fronted by Santiago Gutiérrez Borda. The seller also relied on LOVILL LatamLex in Panama for advise on structuring the transation. Partner Elizabeth Heurtematte.led this team.