The Legal 500 > Latin America > Mexico > Corporate and M&A

Corporate powerhouse Creel, García-Cuéllar, Aiza y Enríquez, S.C. remains firmly at the top of the M&A market, universally recognized for its ‘knowledge of the industry’. Domestic and international blue-chip corporates and private equity funds regularly rely on the department for their most business-critical matters, including mergers, joint ventures, restructurings, privatisations, and spin-offs. 'Market-leading figure' Jean Michel Enríquez (M&A, private equity and capital markets) is practice head; while the core group of partners includes Carlos del Río (M&A, private equity and real estate), Eduardo González (M&A and other complex transactions), Jorge Montaño (M&A, PE, VC, corporate and commercial advisory), Humberto Botti (M&A, private equity and capital markets), and Iker Arriola (M&A, corporate law). All are in great demand as Mexican counsel on the most prestigious local and international  deals; the team recently advised Santander España on its $1bn offer to acquire all Banco Santander México's "B" shares (issued and outstanding); as well as their registration with the National Banking and Securities Commission; and a pending issuance by Santander España on the Mexican Stock Exchange.

Galicia Abogados S.C. fields a stellar corporate and M&A team, regarded by some clients as ‘something unique in Mexico, absolutely western standard as far as availability, smart solutions, business oriented and precise standard of goals achieving’. The firm's popularity is demonstrated by the calibre of the deals it is regularly instructed on, many of which are the largest the market has to offer; major highlights in 2019 include advising in an internal corporate restructure and transfer of its relevant Mexican subsidiaries for Johnson Controls regarding the USD$ 13.2 billion sale of its Power Solutions subsidiary to Brookfield Business Partners. Ignacio Pesqueira (M&A, corporate advisory) and José Visoso (M&A and finance), co-lead the ten partner, 40-strong team, which also includes very highly-regarded founding partner Manuel Galicia (M&A, private equity and finance); Christian Lippert (M&A, corporate and competition / antitrust); Arturo Perdomo (M&A, banking and finance and finance regulatory); Humberto Pérez Rocha (M&A, banking and finance, project finance and insurance); Héctor Kuri (M&A, finance and infrastructure), Eugenio Sepúlveda (M&A and financial restructuring); Ricardo García (M&A, corporate finance, private equity and banking); and Ramiro Sandoval (M&A and private equity with an emphasis on real estate matters).

Mexican member of the regional Affinitas alliance, Mijares, Angoitia, Cortés y Fuentes S.C.'s ‘unique’ team regularly secures rave reviews for its ‘great disposition, knowledge and professionalism’, and its cutting-edge corporate work. The department; which represents an impressive mix of domestic and international clients, including some of the most active private equity funds in Mexico, boasts an array of talent, including name partners Pablo Mijares (M&A, private equity and bidding processes) and Francisco Fuentes (M&A, competition and telecoms). Other key individuals include Ricardo Maldonado (M&A, capital markets, financing and corporate compliance); Patricio Trad (M&A, corporate and structured finance); Eugenio Macouzet (M&A, joint ventures and strategic partnerships); Ignacio Armida (general corporate advisory, M&A and financings); Lorenza Langarica (M&A, structured finance and real estate); Manuel Echave (corporate and structured finance); Francisco Ibañez (banking and finance, capital markets, M&A and general corporate advisory), and Martín Sánchez Bretón (capital markets, M&A, corporate finance). 2019-mandates saw the well-rounded team advise portfolio company Current Lighting on its acquisition of Commercial Materials and Components Eléctricos del Norte, both Mexican subsidiaries of GE, for $300m, among numerous other matters. Patrick Meshoulam, who was raised to the partnership in April 2020; and key associate Francisco Glennie are also both noted.

Nader, Hayaux y Goebel, SC is a safe bet when it comes to complex corporate matters, including major M&As, joint ventures, spin-offs and private equity buyouts. Informed by the firm's banking and finance and capital markets' expertise, the 26-strong team led by the ‘exceptional’ Michell Nader and is often praised for its ‘high-level personal treatment'. It includes fellow founding partners Hans Goebel (M&A, private equity), and Yves Hayaux-Du-Tilly (M&A, complex corporate law, insurance), as well as other key partners Julián Garza (specialist corporate advisory, M&A, regulatory matters), Hector Arangua (venture capital, private equity and M&A), Luciano Pérez Gómez (M&A, corporate), and young partner Diego Sanchez Villarreal who enjoys a growing profile. Recent headline work saw Nader and Garza lead advice to Grupo Murano on its $1bn joint venture with Jones Lang LaSalle regarding the development and management of real estate properties located in Mexico; and Arangua lead advice to Blackrock on the divestment of its holdings in Sierra Oil & Gas.

Ritch, Mueller, Heather y Nicolau, S.C. houses a top-notch transactional practice with all requisite support practices -such as antitrust, regulatory and specialised due diligence- and which is frequently involved in the country's largest corporate deals and joint venture transactions. Carlos Obregón Rojo (M&A and capital markets, particularly in relation to the funds sector), and Luis Nicolau (M&A, banking, capital markets and competition - and who also has a strong niche advising real estate investment funds), co-head the department.  Other key, high profile practitioners include head of real estate Rodrigo Conesa Labastida (banking and finance, M&A), Ricardo Calderón Mendoza (domestic and cross border M&A and financing transactions), Jean Paul Farah Chajín (banking, CM, M&A, projects and real estate), and Eduardo Triulzi Garciadiego (banking, finance, M&A). Thomas Heather's broad practice takes in arbitration, bankruptcy, anti-corruption and investigations, and M&A. Clients appreciate the teams ‘impressive business understanding', as displayed on mandates including Conesa's advice to Walton Street Capital on its $173m acquisition of the JW Marriot Mexico City; and Nicolau's representation of Fagron on its MXN$352m purchase of the outstanding shares in Central de Drogas.

White & Case S.C.'s highly reputed, 19-strong practice is often the first choice for both major domestic and international corporations that value their ‘perfect skills, very good negotiating capacity and excellent relationship with regulators’. The team, made up of an ‘excellent’ group of partners, is co-led by Francisco Garcia-Naranjo (high-end corporate advisory and transactional mandates), and Álvaro Garza-Galván (corporate / M&A). Additional key members include Henri Capin Gally, who, prior to his return to the firm in 2105, was head of Time Warner’s Latin America M&A division; the multi-faceted Vicente Corta (complex and cross-border M&A), and younger partners  Mauricio Valdespino (M&A, private equity and corporate transactions); and Sergio Márquez (M&A, Capital markets, banking). Recent matters saw Corta co-lead with New York-based colleagues on Caisse de Dépôt et Placement du Québec (CDPQ)'s $500m investment in Sanfer; and Capin advise OcenaPact on structuring a joint venture with Mexmar to offer integrated offshore oilfield emergency response solutions.

Basham, Ringe y Correa, S.C. has a well-established footprint in the corporate and M&A sector, its 50-strong team operating from offices in Monterrey, Queretaro and -since 2018- León, as well as Mexico City, and offering a mix of day-to-day and transactional advice for both domestic and international clients. In addition to usual attendant practices such as labour, tax or competition, the firm recently incorporated a crisis and risk management practice, which also assists clients fulfil their regulatory obligations before the Mexican Authorities; it is proving particularly useful in relation to its cross-border transactional activity. The practice fields an accomplished core group of corporate and transactional partners including experienced market player, practice head Daniel Del Rio (particularly cross-border investment both inbound and outbound); Juan Jose Lopez de Silanes (partnership agreements, M&A, reorganizations, investment, public bids and corporate governance); energy specialist Juan Carlos Serra (joint ventures, M&A reorganisations and bidding processes); competition and antitrust head Amilcar Peredo; Miguel Angel Peralta (M&A, finance, capital markets and real estate); Amilcar Garcia (joint ventures, M&A, reorganisations and investment, particularly in relation to the real estate sector); Jesus Colunga (corporate and M&A); along with Luis Lujan and Carlos Velazquez de Leon in Querétaro and Monterrey, respectively. Senior associate Moisés Gómez Flores, who has run the León office since its opening, is also noted; he has a broad corporate practice including compliance and AML.

A solid team of ‘outstanding lawyers’ with strong expertise in corporate and private equity acquisitions, restructurings, and compliance work, make up the practice group at González Calvillo, SC. Increasingly established as a firm of choice for both domestic and international clients, particularly from the financial, energy and private equity sectors, the practice has capacity to act on a considerable volume of deals and is regularly referred work by foreign firms. Key partners include José Victor Torres, Jaime Cortés, José Ignacio Rivero, Juan Manuel Sancho Rodrigo, Gonzalo A Vargas, Jorge Mondragón, Alfredo Chávez Goyeneche and Enrique A Ávila; between them they cover the gamut of corporate matters, including banking, capital markets, corporate advisory and finance, structured finance, M&A, private equity and regulatory matters, particularly in relation to projects, real estate and infrastructure, and also in the finance sector. Associates Priscila Adalid-Melgar and Victor Nakakawa Trejo are also both noted.

Managing partner of the Mexico City office and co-chair of the firm's Latin America practice, well-known market figure José Raz Guzmán (M&A, capital markets, banking, and real estate transactions) heads the 27-strong corporate and M&A department at the full-service, Miami-headquartered, Greenberg Traurig, S.C. The group has considerable experience and high-level expertise advising a broad range of national and international corporates on transactional matters, particularly in the infrastructure, natural resources, manufacturing and financial services sectors; a recent case in point being its representation of Colombia's Keralty in a $120m joint venture with AXA Seguros. Key members of the practice include Miguel Yturbe Redo (M&A, general corporate advisory), Arturo Pérez Estrada (corporate, financial regulation, privacy and corporate finance), José Antonio Butrón (M&A, banking, structured and project finance, capital markets and securitization), and Carlos Garduño (M&A, securities, corporate and project finance). Elected shareholder (partner) in January 2020, Luis Cortés (corporate, commercial and finance law), is also noted. Additional senior partners who also undertake corporate matters include Juan Manuel González Bernal, Hugo López-Coll, Victor Manuel Frías and Antonio Robles Hüe.

Partners Manuel Romano (cross border M&A, joint ventures and strategic alliances), and the ‘exceptional’ of counsel Mauricio Castilla (M&A, private equity, corporate governance), co-lead the corporate and M&A practice at Jones Day 's Mexico office, which is particularly specialised in transactional matters and notably active in the energy sector. The office works closely with the firm's wider international network, offering clients high-level expertise, especially when handling cross-border matters, skillsets showcased in the team's advice to UPL Corporation regarding its $4.2bn multijurisdictional acquisition of Arysta Lifescience. Other noteworthy practices include Javier Martínez del Campo (cross-border and domestic mergers and acquisitions, competition and corporate governance) and of counsel Antonio Franck (corporate M&A, banking, restructuring, and securities law). Romano and Franck paired-up to lead advice to Invex Infraestructura 4 regarding its $600m Tuxpan-Tula pipeline project.

Clients appreciate Santamarina y Steta's ‘in-depth knowledge and unmatched treatment’ when operating within the corporate and M&A sphere. Offering a strong national practice, with 25 corporate lawyers working from offices in Querétaro, Monterrey and Mexico City, the firm represents a broad mix of domestic and international clients on day-to-day matters, including compliance, and also has a good track record in joint ventures and mid-market M&A. The department houses a deep bench of highly experienced partners, including transactional practice head Juan Carlos Machorro, former managing partner Alberto Saavedra, firm chairman Jorge León-Orantes, Carlos Argüelles and Pablo Laresgoiti in Mexico City; along with César Cruz and Jorge Barrero in Monterrey, and José Ramón Ayala in Querétaro. Between them, they handle M&A, banking and finance, securities and capital markets, private equity and venture capital, along with general corporate advisory, due diligence, joint ventures, public tendering, corporate governance and data privacy, among other matters. Ricardo Orea, who focuses on transactional matters and restructurings; and Claudia Rodríguez C (corporate, M&A, project finance and real estate), were made partners in January 2020.

Von Wobeser y Sierra, SC stands out for advising some of the leading domestic and international corporates operating in Mexico. The ‘technically robust team’ offers a broad expertise that ranges across M&A, joint ventures and divestitures, as well as key ancillary areas such as anti-corruption, antitrust, banking and capital markets. The ‘excellent’ Luis Burgueño (cross-border M&A, joint ventures, corporate governance - he also has niche expertise in IT-sector transactions) heads the highly-rated department. Other key practitioners include head of the competition practice Fernando Carreño ; corporate and transactional veteran, Javier Lizardi; dual-qualified (Mexico and Austria) Rupert Hüttler; Pablo Saez (corporate M&A, particularly those with a real estate element); and Alberto Córdoba, who made partner in January 2020. Recent matters saw Nieto lead advice to One Rock Capital Partners on the Mexican aspects of its $214.5m purchase of the Engineered Components & Systems division of Actuant Corporation - including legal due diligence, transaction structuring, the drafting and negotiation of the SPA and ancillary documentation. Since 2016, the firm has also developed an active diversity group led by Córdoba. Senior associate Gloria Martínez and associate Santiago Barraza  are also noted. However, Andrés Nieto exited to Creel Abogados, SC in May 2020.

With offices in el Bajío and Cancún as well as Mexico City, Cervantes Sainz, S.C. is a mid-sized (44-lawyer) firm with a broad service offering across the gamut of contentious and advisory matters. The corporate and M&A practice is led by experienced name-partner Luis A Cervantes Castillo and handles a full array of transactional types across all industries and markets, most notably retail, finance, real estate, media and insurance. Specialising in cross-border corporate and financing transactions, particularly in the private equity segment Octavio Hernández Negretti is also a key practitioner. Santiago Alessio, whose broad practice includes corporate and transactional matters, made partner in January 2020; and associates Daniela Alcázar and Pablo Martínez Arizpe are both also noted. Headline matters saw Cervantes lead advice to PINFRA on its $250m acquisition of a minority interest in Concesionaria de Autopistas de Michoacán.

The strengthening of CMS' international network, not least in South America, has further boosted CMS Woodhouse Lorente Ludlow participation in major transactional activity particularly in the tech, media and communications, and energy, infrastructure and projects areas which are particular strengths of the office. The growing practice group is co-led by seasoned founding partner Enrique Lorente Ludlow and transactional specialist César Lechuga. Luis Fernández Lagunas handles M&A in the energy sector, as does senior associate Gabriel Salinas Ruiz; and fellow senior Giancarlo Schievenini, who has a broader corporate practice, is also noted. Recent mandates include providing holistic advisory -including corporate, IP, healthcare and life sciences, contracts and regulatory- to Biomitech, a Mexican start-up that has originated a new greenhouse gases remediation device. The team was further boosted by the January 2020-hires of Raúl Zepeda (corporate and capital markets) from Banco Inbursa, as partner; and senior associate Héctor González Martínez from Ontier México. Since publication, Schievenini has been raised to the partnership, effective as of January 2021.

Operating from its offices in Mexico City, Guanajuato and Guadalajara, Cuesta Campos y Asociados S.C.'s 18-strong corporate team is typically engaged in mid- and upper mid-market transactions and garners praise for offering ‘technical and specialized attention’ to resolve its clients' needs. The practice, is led by experienced name-partner Hugo Cuesta  (cross-border transactions, M&A, finance, commercial law and corporate governance) and Azucena Marín (M&A, competition law, financings, and corporate governance); both are recommended for their ‘expertise and availability’, and regularly advise on transactions and joint ventures in a variety of industries and business sectors. The team has also developed a strong focus on anticorruption and compliance matters. Principal associate (and M&A and international trade practice director) Rafael Sánchez Acosta, and senior Andrés Urquidi (banking and finance, M&A, compliance), are also noted.

DLA Piper Gallastegui y Lozano, the international firm's Mexico office, has an established corporate practice led by managing partner Eduardo Gallastegui  (corporate M&A, antitrust, foreign investment), in conjunction with Gerardo Lozano Alarcón (corporate/M&A, foreign investment, commercial advisory, commercial arbitration and real estate), both well-known market figures. Moreover, the 18-strong team -including partners Jorge Benejam, Edgar Romo, Marcelo Paramo, Maria Rios, Diego Martinez and Xavier Mangino- is backed by the firm's international network, exposing the team to a healthy flow of inbound investment mandates: recent highlights include significant inbound cross-border M&A in the pharmaceutical and media sectors. Corporate-focused associates Yesica Garduño and Joaquín Gallastegui are also noted.

Garrigues continues to steadily strengthen its standing and participation in the Mexican market, and benefits from its established brand, particularly with Spanish and US companies engaged in cross-border transactions. The well-regarded, 12-strong team is led by Gerardo Lemus, who has over 25 years' experience in M&A and other corporate matters including governance, commercial contracts, cross-border financings and real estate, along with merger-control matters. Strong backing comes from a trio of principal associates: Miguel Ángel Rocha (M&A, corporate restructuring, commercial contracts and real estate); Daniel González (corporate, finance and M&A) and Miguel Ángel de la Fuente (M&A and financial transactions). The team was further strengthened with the 2019-hire of senior Carlos Eduardo Gómez from Mijares, Angoitia, Cortés y Fuentes S.C.. Recent mandates saw Gabriela Pérez Sierra , who made partner back in 2017, lead on the Mexican leg of CH Robinson's €42m global purchase of US-based freight-forwarder, Space Cargo Group.

International player Hogan Lovells has invested heavily in its practice, not just in Mexico City, but also in Monterrey, where Guillermo González Frankenberger (M&A, real estate, corporate governance, commercial, and corporate matters), and Jorge Yañez (M&A and corporate matters as part of a broader practice), are both very active. In the capital, key partners in the 21-strong team include highly-rated managing partner Juan Francisco Torres Landa, who handles civil, commercial, and corporate matters; project finance, foreign investment, competition and arbitration (among other areas); Ricardo Pons (corporate reorganizations, antitrust and competition, M&A and corporate law); Federico de Noriega (financial transactions, M&A and data privacy), and Carlos Ramos Miranda (general corporate, M&A, insurance, infrastructure and energy law). Recent matters include advising BIA Foods Investments on the $113m acquisition of Grupo Industrial Suarez, which in turn holds canned products manufacturer Empacadora San Marcos.

Operating from its offices in Mexico City, Monterrey and Querétaro, the practice at Sánchez Devanny is over 30-strong and handles a broad range of work, including advice on joint ventures, M&A, corporate governance and compliance. Key partners include Francisco Andres Gamez-Garza (corporate, M&A financings, joint ventures and compliance due diligence), Cristina Sanchez-Vebber (corporate M&A and competition law), Ernesto Silvas, who is very experienced in cross-border transactional matters; and Jose Antonio Postigo-Uribe (head of the corporate and M&A practice in Mexico City, where he is also office managing partner); while in Monterrey Gerardo Prado-Hernandez (M&A, commercial transactions, day-to-day advisory and contracts) and office managing partner Humberto Morales-Barron, who is also head of the corporate governance and regulatory compliance practice. Ongoing matters include advising Medtronic on its MXN$173m acquisition of certain business lines (concerned with coronary health) from Artimédica; the team also remains particularly active in the automotive sector, long a strength of the firm.

Deloitte Legal Mexico has an experienced, 'highly professional and versatile' team specialized in major cross-border M&As, joint ventures and restructurings. As one client puts it, ‘quality is the hallmark’ of the practice led by partner Diego Valdes, who is praised for offering ‘simple, feasible approaches to most sophisticated legal and financial challenges’. Luis Lavalle, Ramon Bravo and Mauricio Oropeza, are other noted members of the practice, which has built up an interesting offer to national an international clients such a Marchesini Group, Grupo Rubaiyat and Galaz, Yamazaki, Ruiz Urquiza, mostly in M&A transactions and day-to-day business.

Holland & Knight's Mexico office fields a small team with considerable experience advising on mergers, asset purchases and sales, tender offers and leveraged buy-outs, spin-offs, MBOs and joint ventures, along with corporate recapitalizations, reorganizations and restructurings. It also demonstrates impressive private equity expertise and is a frequent participant in regulated-industry transactions, notably in the financial and energy sectors. A well-known figure -particularly in the telecoms segment- experienced managing partner Luis Rubio heads an eight-strong group that primarily acts for foreign -predominantly US- clients, arriving and operating in Mexico. Alejandro Landa, whose broad corporate practice takes in a range of energy, finance, transactional and real estate matters; and Octavio Lecona, a telecoms, media and technology specialist whose corporate practice includes M&A, joint ventures, corporate restructuring and contractual matters, bring further partner-level participation. Key support comes from senior counsel Selene Espinosa who undertakes M&A, financings, international joint ventures, cross-border transactions and strategic alliances, among other corporate activity. However, fellow former counsel Blanca Luevano moved in-house at AT&T in August 2020.

Growing firm Ibarra, del Paso y Gallego (it incorporated new partners in both IP and labour during 2019) fields a ‘solid team’ -seven-strong- with ‘extensive knowledge’ of the corporate market and transactional matters. Led by the ever available Gerardo Gallego Díaz de León, the practice group has significant experience in M&A, divestitures, reorganisations, spin-offs and most notably, joint ventures and commercial tie-ups between foreign investment and local market players; real estate, hospitality and the biotech / life science sectors have emerged as particular sweet-spots. Moreover, with cost-effective day-to-day advisory services, the firm has remained busy throughout the Covid-19 pandemic. Partners Rodrigo de los Ríos (M&A, finance, and capital markets) and associate Fernando González Gómez (corporate, M&A and real estate), provide key support for the practice.

Clients rely on Jáuregui y Del Valle, S.C.'s recommended practice for their high level of expertise on a wide range of matters, including M&A, corporate governance, distribution agreements and restructurings. With over 20 years' experience and knowledge of banking and finance and real estate as well as corporate matters, Miguel Ishii Yokoyama heads up the 20-strong team. Other key members include María del Pilar Labastida, who focuses on corporate, commercial and transactional matters; and Citlali Perez - corporate transactions, competition, international commercial arbitration and publc bidding; she also represents a growing number of private equity funds, among them Alta Growth Capital, which the team advised on two important transactions, and Nexxus Capital which instructed the firm on its acquisition of a 60% stake in Grupo Turistore. At associate level, Alejandro Creel Ysita, who handles transactional matters as part of a broader practice, is also noted.

Best known for its banking and capital markets' capabilities, Kuri Breña, Sánchez Ugarte y Aznar is also active in the corporate and transactional arena, notably on behalf of investment fund clients. The 19-strong practice group includes experienced partners Daniel Kuri Breña, Luis Octavio Núñez, Guillermo Garay and Jesús Sánchez Ugarte, and plays to its strengths when handling transactional matters such as M&A, private equity buyouts and joint ventures, particularly in relation to the real estate, infrastructure, manufacturing and finance sectors. 2019 saw the return of experienced senior associate Sandra Solís, from her in-house role as senior legal counsel at GE Capital; and the team was further strengthened with the mid-year hires of associates Elizabeth Tovar, from the former Romo Paillés, S.C., and Selene González from SAI Derecho & Economía S.C.

SMPS Legal's 11-strong practice group displays solid knowledge across a broad swathe of corporate activity, from company incorporation and structuring, through operational and strategic matters such as compliance, governance and a full range of transactional and investment activity, through to closure and liquidation. With a roster ranging from start-ups to large corporates, clients appreciate the ‘extremely personal and friendly treatment’ offered by the team composed of Eduardo Pizarro (corporate advisory and finance, joint ventures and M&A); Alejandro Ortiz who specializes in assisting companies establish and operate in Mexico; Andres Pizarro Suarez (corporate / M&A, joint ventures, real estate, restructuring, investments and regulatory); and Iván Pérez (banking and finance, capital markets and M&A). Moreover, the team has been substantially reinforced, firstly with the April 2020 hires of former Romo Paillés, S.C.-managing partner, real estate expert María Teresa Paillés, and her corporate, transactional and real estate-focused colleague María Esther Rey; and subsequently, with the August 2020 hire of Juan Pablo Visoso, formerly in the private equity sector, who joins as a partner of the corporate/M&A and banking and finance practices.