According to satisfied clients, Brigard Urrutia is distinguished by ‘its quality of work, efficiency and agility‘. A transactional powerhouse, the firm leverages its full-service model to pack a punch in advising major national and multinational companies on the full spread of corporate and M&A matters — across all business sectors. The group demonstrates adroit handling of headline-grabbing deals for both sellers and acquirers, and it is also well-equipped to advise on compliance and non-transactional matters. High-profile M&A co-head Sergio Michelsen Jaramillo is an instantly recognisable name for corporate deals and brings to bear over three decades of experience on sophisticated transactions. Michelsen recently teamed up with dual-qualified (Colombia/New York) corporate heavyweight Jaime Robledo and up-and-coming specialist Tomás Holguín to advise former shareholders of Productos Familia (including Valores Industriales, Reforestadora y Manufacturera los Retiros and members of the Gómez family) on one of the year’s marquee deals: Essity’s $1.5bn acquisition of approximately 44% of Productos Familia through a tender offer. In another cross-border highlight, Darío Laguado Giraldo teamed up with corporate finance expert Carlos Fradique-Méndez to act as local counsel to Alpha Capital CFG on its acquisition, out of bankruptcy, of the payroll loan portfolio of Alpha Latam Management and its subsidiaries in Colombia. Other key partners include Álvaro Cala, who specialises in the aviation and real estate sectors, Fernando Alfredo Castillo, who has a good record in cross-border work, as well as managing partner Carlos Umaña and senior partner Carlos Urrutia. The department also benefits from a deep bench of associates, including dual-qualified Paola Ordoñez (M&A), Laura Ricardo Ayerbe (M&A, corporate and commercial) and Barranquilla-based Andrea Camila Cruz (M&A, corporate and commercial). Two changes in September 2021 saw Ángela García Páez promoted to director within the corporate and M&A team, while former senior associate Daniel Moncaleano left to join Willkie Farr & Gallagher LLP in the US.

‘Focused on achieving the client’s objectives‘, DLA Piper Martinez Beltrán is commended for its team of collaborative and business-oriented lawyers, who ‘become part of the client’s internal processes‘. The group’s ability to plug into the wider firm’s international network combines with its senior partners’ robust domestic experience to mark this team as a leading contender for multi-jurisdictional mandates. The practice can turn its hand to transactions in any market segment but is particularly recognised for its experience in the private equity, financial services, healthcare, energy and infrastructure spheres. Among the names to note, private equity specialist Felipe Quintero is widely considered a market leader; he recently led the corporate aspects of the firm’s advice to Macquarie Infrastructure and Real Assets and Macquarie Infrastructure Partners V in the acquisition of 50% of Odinsa’s road concession business in Colombia. Juan Manuel de la Rosa is also highly regarded for private equity transactions and acted in conjunction with María Claudia Martínez to advise TM – Grupo Transmerquim (a portfolio company of Advent International), on Advent’s acquisition of Caldic from Goldman Sachs Asset Management. Quintero and de la Rosa co-lead the department together with managing partner Camilo Martínez and corporate and litigation partner José Miguel Mendoza. Nicolás Polanía is also recommended for his focus on contentious and transactional corporate matters, including insolvency. Additionally, the group can call upon a sizeable second line of younger lawyers, including director Felipe Aristizabal, who is establishing a strong record in private equity-related deals. Other recommended names include director Juan Camilo Varón (commercial, corporate and energy) as well as associates Juan Carlos Gambín (M&A, regulatory, foreign investment), Daniela Duarte (M&A, corporate, finance), and Natalia Bernal (corporate, M&A, foreign investment). Senior associate María Alejandra Cabrera joined from Holland & Knight in August 2021. Since publication, Aristizabal has been raised to the partnership - effective as of January 2023.

‘A force in the market since its foundation‘, Gómez-Pinzón Abogados (GPA)‘s corporate and M&A team stands out for its ‘prompt, practical and accurate‘ advice. A strong performer in infrastructure deals of late, the group also shines in transactions in the energy, technology and aviation sectors, among others. Lina Uribe García spearheads the practice and enjoys strong relationships with private equity clients, evidenced by a clutch of recent mandates in this field. Most notably, Uribe advised Acon Latam Management on its acquisitions of Glassfarma Tech, Avefarma and Panamerican Pharmaceutical Holdings (holding companies of Grupo Ave); she also paired up with talented up-and-coming star Natalia García Arenas to advise KKR on its $500m acquisition of Telefónica Colombia’s fibre optic assets. The team also benefits from seasoned specialist Patricia Arrázola, who possesses over three decades of transactional experience, with impressive records in the energy and natural resources spheres. Arrázola acted alongside Juan David Quintero to advise EnfraGen — jointly owned by Glenfarne Group and Partners Group — on the acquisition of natural gas-fired plant, Termovalle. Other recommended names are: dual-qualified (Colombia/New York) Ana Cristina Jaramillo , who joined in November 2021 from Merqueo, where she was LatAm general counsel; Felipe Mariño, who is noted for his ‘experience, knowledge, and most importantly, emotional intelligence‘; and 30-year veteran counsel María Fernanda Restrepo. Additionally, director María Isabel Romero de la Torre and senior lawyer Daniel Fajardo joined in 2021 (April and October respectively) from Holland & Knight. Capable support is provided by senior associates Paola Valderrama (corporate and M&A), who joined in October 2021 from Garrigues, Emanuela Guevara (corporate and M&A) and Juan Pablo Caicedo (corporate, M&A, infrastructure). Talented senior associate Natalia Villamizar is currently an international visiting attorney at Skadden, Arps, Slate, Meagher & Flom LLP. Since publication, Mariño has left the firm – effective as of December 2022.

The top-flight corporate practice at Philippi Prietocarrizosa Ferrero DU & Uría ‘stands as an example in Latin America’, according to some. The team’s ability to ‘adapt to the needs of the client‘ is a recurring theme among sources, with its lawyers’ commercial and legal knowledge combining to ensure that the firm ‘can do super structured transactions in record time‘. Managing partner Martín Acero is widely revered for his enviable track record in major local and cross-border transactions — and his ability to advise holistically on both corporate and tax-related matters. Acero recently led the firm’s advice to Intergrupo on the sale of its share in IG Services to SoftwareONE. Claudia Barrero, highlighted for her ‘intelligence, experience, knowledge, way of leading and communicating‘, is a transactional powerhouse, whose practice encompasses corporate, M&A, finance and capital markets. Barrero recently advised Century Energy Corporation and Latin American Renewable Energy Income Fund I on the sale of seven hydroelectric plants to Isagen. Elsewhere, Felipe Cuberos teamed up with the competition department to advise Puratos on its acquisitions of T-Vapan 500, Puratos Dominicana and Levapan’s distribution operation in Ecuador. The deep bench also fields real estate and corporate specialist Juan Carlos Rocha, corporate and capital markets partner Hernando Padilla and increasingly prominent up-and-coming specialist Nicolás Tirado, who is also the Colombian office’s member of the firm’s China desk initiative. Among the firm’s talented band of younger corporate lawyers are principal associates Luz María Mercado (corporate, M&A and capital markets), David Beltrán (corporate, M&A, governance, reorganisations) and Paula Buriticá (corporate, finance, capital markets). Additionally, Juan José Castaño, a ‘young lawyer with extensive knowledge‘, returned to the team in August 2021 after a stint at associate firm Uría Menéndez. Juan Guillermo Nur and Alejandro Medina are also active associates.

Posse Herrera Ruiz houses a full-service corporate and M&A practice, which routinely advises on a wide range of transactional, commercial and compliance matters. Widely recognised as a market leader in energy-related deals, where it frequently links up with its top-tier energy and natural resources department, it also has a particularly strong presence in the technology, infrastructure and real estate fields. Managing partner Jaime Herrera spearheads the M&A group and is sought after by both domestic and multinational clients; he recently paired up with Oscar Tutasaura to advise the Financiera de Desarrollo Nacional and the Colombian Ministry of Finance on the local aspects of the $3.6bn sale of its 51.4% stake in Interconexión Eléctrica to Ecopetrol. On the technology side, Jaime Cubillos advised Webhelp on the Colombian corporate aspects of its acquisition of Onelink Holdings. On the infrastructure front, talented M&A specialist Gabriel Sánchez teamed up with infrastructure and public law head José Alejandro Torres, as well as the finance and tax teams, to advise Odinsa on the creation of an investment platform for toll road assets in Colombia and the region. Among the group’s key associates, Catalina Noreña, Susana Gómez Ramírez, Christian Diaz Ordoñez and Camilo Loveras provide ongoing support in corporate and M&A transactions. Since publication, Gómez Ramírez has been raised to the partnership - effective as of January 2023.

‘Comprised of ethical and pragmatic problem-solvers‘, Dentons Cardenas & Cardenas‘s team strikes the right note with its lawyers’ ability to create a ‘friendly and trusting environment‘. A strong performer in multi-jurisdictional deals, where it can lean on the wider firm’s extensive global network for support, the group also handles a steady stream of sizeable domestic transactions. Moreover, despite the pandemic, the firm opened an office in Medellin in October 2020, giving it an on-the-ground presence in the country's second city and entrepreneurial heartand. The team is also distinguished by its increasing presence in the energy and healthcare spheres. Senior name Eduardo Cárdenas jointly heads the group alongside Mauricio Borrero — together, they acted as Colombian counsel to Ron La Hechicera, a distillery and producer of premium rum in Colombia, on the acquisition of majority shareholding in the company by Pernod Ricard. Other recommended partners include Bernardo Cárdenas, who handles M&A and finance matters (and is also the key contact for Medellin), and transactional energy specialists Jorge Neher and Santiago González. At associate level, senior associate Santiago Miramón secures strong reviews from clients for providing ‘excellent transactional advice‘. Other key associates for the corporate team are senior lawyer Felipe Molano, who is experienced in domestic and cross-border matters, and  María Paula Álvarez, who sits in the corporate and real estate groups. Partner Alejandra Bonilla left to re-join her previous company, Frontera Energy, in March 2021.

‘Professional, committed and agile‘, Garrigues‘ Colombia practice secured an strong volume of work in 2021/22, with an emphasis on deals in the energy, infrastructure and communications sectors. Lawyers are commended as ‘reliable and diligent‘, with department co-head Andrés Ordóñez  singled out for his ‘strong leadership‘. Among Ordóñez’s recent deals, he advised DirecTV in Colombia on the sale of its fixed wireless access internet business line to Colombia Telecomunicaciones and also acted for I Squared Capital on the acquisition of a controlling interest in the Port of Barranquilla Group. Ignacio Londoño  co-heads the practice and advised Enel Group on an agreement with Grupo Energía Bogotá related to both companies’ participation in the joint ventures Emgesa and Codensa, two major players in Colombia’s power sector. The team also calls on several capable supporting lawyers. In particular, senior associate Cristina Copete  acted on an impressive volume of the group’s corporate highlights over the past year, including the DirectTV deal. The firm also welcomed new associate Mateo Gómez Mazuera  in August 2021, who joined from Serrano Martínez. Senior associate Paola Valderrama left the firm in September 2021.

Despite its one-site business model, Bogotá-based Lloreda Camacho & Co. has secured central roles on a string of major multinational transactions of late. Most notably, it advised Grupo Almo on the sale of its security transport business in Central America to Spanish conglomerate Prosegur, where it led work in six jurisdictions (Guatemala, Nicaragua, Honduras, Panamá, Costa Rica and El Salvador). High-profile department co-lead Santiago Gutiérrez, who brings to bear deep expertise in the corporate, finance, capital markets and real estate areas, led the Almo deal. The group also benefits from the senior experience of Andrés Hidalgo, who co-leads the M&A practice and also spearheads the public procurement and infrastructure groups. Hidalgo recently acted in conjunction with the mining and natural resources team to advise Anglo American, alongside Shearman & Sterling in the UK, on the $294m sale of its 33.3% interest in the Cerrejón joint venture to Glencore. Senior associate Nadia Sánchez is also a key contact for the corporate team. However, the firm recently saw two significant departures at senior associate level: María Paula Macías left in October 2021, while Raúl Vargas departed in January 2022.

‘A highly reliable provider of legal advice‘, CMS Rodríguez-Azuero impresses with its ability to ‘pay close and detailed attention to each query or requirement‘. The firm routinely works alongside lawyers from across its global network to excel in advising on the local leg of large regional and multi-jurisdictional matters. Additionally, its longstanding position in the Colombian market ensures it retains close links with major domestic corporations. Managing partner and practice head Juan Camilo Rodríguez continues to notch up involvement in both domestic and cross-border mandates; he recently advised Colombian fintech Bold on a recent $55m funding round led by Tiger Global Management. Energy-focused counsel Leopoldo Olavarría  is another senior name; he joined in October 2021 and was formerly a partner at Norton Rose (Venezuela). Senior associate Camilo Caicedo was recently promoted to associate practice director to replace the outgoing Amanda Arcaya, who left in April 2022. Senior associate María Garrido and junior associate Lina Barreto are also noted for corporate and commercial matters. Since publication, Caicedo has left the firm (as of February 2023) and been replaced as corporate associate practice head by Felipe Molano, who arrived from Dentons Cardenas & Cardenas the same month.

Since its Colombia launch in January 2021 Cuatrecasas‘ Bogota office has hit the ground running. The firm continues to invest in the practice and among its recent hires it welcomed highly rated senior associate Carolina Trejos Robledo, who arrived in May 2021 from Lewin & Wills, Abogados (where she was partner) and senior associate Juan Fernando Puerta, who joined in October 2021 from Brigard Urrutia. Key partner Juan Felipe Vera spearheads a growing group that is noted for its ‘great ability to understand business and actively contribute to its structure‘; he notably led the firm’s advice to Essity on its takeover bid to acquire a 94% shareholding of Productos Familia. Other recommended names include senior associate Fabio Ardila, who is particularly noted for transactional energy matters, as well as associates Pablo Martínez and Andrés Felipe Saldarriaga. Since publication, the practice group has been further strengthened with the hire of Felipe Mariño from Gómez-Pinzón Abogados (GPA) – effective as of December 2022.

The Bogota corporate team at Florida-based Holland & Knight is ‘focused on its clients and the search for solutions‘, according to sources. The group covers the waterfront on corporate issues and routinely advises on company incorporations and joint ventures, right through to M&A transactions and corporate reorganisations. Resident partner Enrique Gómez-Pinzón splits his practice between Bogotá and Washington DC and handles a range of cross-border investment and M&A matters; he is leading the firm’s advice to Cemex Latam Holdings on its attempts to nullify certain corporate decisions that were taken during the capitalisation made in 2015 by Cemex Colombia in the company Zona Franca Especial Cementera del Magdalena Medio. Lucas Saffon-López co-leads the group alongside Gómez-Pinzón and also has an emphasis on international deals, while José Vicente Zapata is noted for his transactional expertise in the natural resources sector. The group also includes newly promoted (January 2022) corporate and tax partner Rafael Lafont Castillo. The firm witnessed a flurry of associate departures in 2021: associate practice director María Isabel Romero de la Torre, senior counsel Daniel Fajardo and associate María Alejandra Cabrera all left the firm.

Muñoz Tamayo & Asociados‘ corporate practice is commended by clients for its ‘dynamic and comprehensive service‘. A strong performer in mid-market deals, the group is also regularly called upon to advise on the local aspects of major cross-border transactions. Firm founder Diego Muñoz Tamayo co-leads the department and has a robust record in representing domestic and multinational corporations and investment funds on sophisticated corporate and M&A transactions. Corporate, banking and finance specialist Felipe Trías co-heads the practice and recently teamed up with Muñoz Tamayo to advise Rentokil Initial on the acquisition of Continental de Fumigaciones. The group also benefits from an impressive band of up-and-coming lawyers, with senior associates Alonso de Reyes (‘extremely hard-working and highly commercial’) and Amparo Montes (‘very dedicated and business-oriented‘) both singled out for praise by clients.

The ‘friendly, always available and agile' group at Contexto Legal S.A. attracts particularly strong praise for its ability to nurture a ‘warm advisor-client relationship‘. The Medellín-based firm handles a varied mix of corporate and M&A matters, with a strong recent run of deals involving the healthcare, energy, transport and technology sectors. Group head Guillermo Villegas Ortega maintains a broad practice and is noted for his background in both transactional and compliance matters. Associate director Felipe Restrepo Rincon provides support on the commercial, corporate, foreign exchange and regulatory fronts, while senior associate Sara Marcela Aldana has an emphasis on corporate, M&A and restructuring work.

The ‘collaborative and highly resolute‘ team at Correa Merino Agudelo Abogados handles a broad scope of corporate and M&A work, with a focus on venture capital. Considered by some as ‘the most knowledgeable firm in start-ups‘, the team is particularly dominant in representing start-ups and investors, but its diverse client roster also includes well-established domestic and international corporations. Managing partner Camilo Merino steers the corporate, M&A and venture capital practices; he is noted for his expertise in both transactional and corporate governance matters. Key support is provided by associate Sergio Arias, who focuses on corporate, M&A and private equity. In February 2022, senior associate Juanita Betancur  left for an in-house position at Avianca.

Commended for its ability to ‘transmit confidence‘, Esguerra Asesores Jurídicos‘s corporate team is a prominent player in mid-market deals. Lawyers are valued for their ‘understanding of the business‘ and are well versed across all key industry segments, with a strong recent showing in the financial services, infrastructure, healthcare and energy sectors. Led jointly by corporate finance specialist Juan Pablo González   and corporate and compliance partner Andrés Parias , the team handles a range of transactional and compliance matters. Other recommended names include competition specialist Andrés Jaramillo  , Verónica Arango Lux  — who was promoted to partner in January 2022 — and corporate and commercial-focused associate Maria Clara Londoño . In August 2021, associate Nicolás Arocha Roldán left to study in the UK.

Parra Rodríguez Abogados advises an impressive roster of multinational clients on their day-to-day corporate issues in Colombia, enjoying longstanding relationships with Essilor International, Knauf and United Airlines, among others. The firm also advises a mix of domestic and multinational clients on standalone transactional matters, with its membership of the Multilaw alliance standing as an a key asset in cross-border M&A. Aviation specialist Bernardo Rodríguez Ossa   co-heads the group together with practice director Daniela Martínez Silva , who is recommended for her focus on international business transactions. Álvaro Parra , whose practice spans tax, corporate and commercial law, is also recommended. In December 2021, associate Roberta Gentile left to establish new boutique, Naro Legal.

Serrano Martínez‘s corporate team attracts glowing reviews for its ‘client-centric philosophy‘ and its lawyers’ ‘sharp commercial instincts’. Since its establishment in 2017, the competition and corporate boutique continues to grow its market share of sophisticated transactions, including M&A, joint ventures and investment deals — it also acts on corporate litigation and compliance issues. Department head Juan Diego Martinez  , held up by sources for his ‘extensive knowledge and resourcefulness‘, is an increasingly prominent name for M&A, especially in the retail, agricultural, technology and life sciences sectors. Competition head Felipe Serrano   also handles corporate work. Key support is provided by associate Juan Pablo Ramírez , following the departure of senior associate Mateo Gómez Mazuera in August 2021.

BBGS Abogados is held in high esteem by clients due to its ability to ‘complete complex transactions on time‘. The group advises on a comprehensive scope of corporate matters, from compliance issues through to capitalisations and M&A transactions. Luis Felipe Barrios is a key contact for corporate, entertainment and private client work and co-heads the department alongside corporate and M&A partner Monica Serrano. Senior associate Natalia Manrique provides core support to the corporate team.

The corporate group at energy boutique Chalela | Abogados has a focus on transactional energy matters, in line with its signature strength. Federico Chalela  is the name to note; he routinely represents domestic, multinational, multilateral and public-sector entities in a range of compliance, transactional and contentious issues. At associate level, commercial law specialist Andrea Gutierrez  is recommended for her robust in-house experience gained during stints at Shell Colombia and Win Sports. The firm recently saw the departure of associates Daniela Carvajal, who joined Dentons Cardenas & Cardenas in May 2022, and Ana María Iregui , who is now a legal counsel at Latitud.

Deloitte Asesores y Consultores utilises its platforms in Bogotá, Barranquilla, Cali, and Medellín to provide comprehensive national coverage to local and multinational corporations doing business in Colombia. The group is particularly strong on regulatory and advisory matters, including foreign exchange controls, but it also has experience in corporate transactions. At the helm is department lead Juan Germán Osorio, who advises on a range of commercial, corporate and compliance matters, with a strong record in restructurings. Legal manager Esteban Jimenez is also a primary contact for commercial, M&A and foreign exchange work, while legal seniors Santiago Castellanos and Juan Felipe Vivas provide support.

According to sources, DG&A-Abogados is distinguished by its ‘attention to detail, thoroughness and responsiveness‘. The firm’s experience in the retail sphere is particularly noted; it also has an emphasis on the consumer product, real estate and technology sectors. Managing partner María Del Rosario Gómez provides robust all-round support to domestic and multinational clients on corporate and commercial matters. Key associate Maria Isabel Molinares co-ordinates the department and is highlighted, together with Del Rosario, for delivering ‘solutions-driven, practical advice‘. Other active associates include Santiago Adarve (consumer law, e-commerce and data protection) and Juan Carlos Fresen (corporate and administrative law).

The ‘very responsive‘ and ‘highly committed‘ team at Goh demonstrates solid skill sets in all key pillars of corporate and M&A work, from compliance issues and operational matters, through to cross-border transactions involving acquisitions, spin-offs and capital reductions. The corporate department should further benefit from the launch of the firm’s new innovation, technology and start-up practice, which was established in May 2021 and aims to support emerging companies. Group-head Jaime Moya has a focus on investment and divestment transactions; he is highlighted together with key associate Steffany Serebrenik for their ‘in-depth knowledge and commercial awareness‘. Director associate Álvaro Sabbagh is also recommended for commercial and corporate matters.

From its Medellín base, UH Abogados continues to gain traction in the mid-market space. The firm handles a steady stream of corporate and M&A matters, with strong recent activity in the agribusiness, start-up and life sciences spheres. Carlos Henao heads the department and has over two decades of experience in deal-making. Carolina Uribe, who has a focus on advising retail and real-estate clients on corporate and commercial law, is the other key contact. Six-year associate Daniela Vélez is also well versed in corporate transactions.

Miami-headquartered Diaz Reus International Law Firm & Alliance scores highly for blending the ‘expertise of a large firm‘ with ‘the advantages of a boutique firm‘ — the accessibility of its lawyers attracts particular praise. Among its core areas of expertise, the team packs a punch in corporate compliance-related issues. It also handles a significant volume of transactional and contentious matters on behalf of its diverse domestic and multinational client base. Bogotá office head Marcela Blanco, who is dual-qualified, is recommended for her handling of corporate, commercial and foreign investment issues. Key support is provided by associate Marcelo Buendía Vélez, who joined in September 2021 from the Ministry of Justice.

Business law boutique Gallego Abogados is recognised for its niche strength in advising European — especially German-speaking — clients on corporate matters. It also acts for medium-sized and large Colombian companies on transactional, regulatory and contentious matters. Among the names to note, founding partner Helmuth Gallego maintains a broad practice, which spans corporate, commercial and arbitration matters, while firm deputy director Mónica Gutiérrez has a focus on corporate, tax and foreign investment. Senior lawyer Martha Neme is also noted for commercial work.