Aureos Latin America Fund is investing up to USD10m in ITS InfoComunicacion, a provider of remote infrastructure management services with headquarters in Costa Rica.
ALAF is an initiative of Aureos Capital, a private equity fund management company specialising in investing in small to mid-sized businesses in emerging markets.
This marks ALAF’s seventh investment in Latin America and its first in Central America.
ITS serves the outsourcing demands of telecommunications operators, government bodies, and Latin American companies. ITS enables its clients to develop and leverage their technology infrastructures.
ITS was founded in 1997 by a group of Costa Rican investors and its clients now include a number of Fortune 500 companies. It has operations in Colombia, Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras, Nicaragua, Panama, Peru, Puerto Rico and the US.
ALAF’s investment will enable ITS to strengthen its market position by further investing in technology and its RIM services.
Erik Peterson, regional managing partner of ALAF, says: “ITS is a business that has grown steadily since its founding over ten years ago and now has a strong regional presence. The RIM services ITS provides to its clients improve the reliability and security of the clients’ systems at a much lower implementation and management cost. This segment will continue to grow given the cost/benefit relationship it provides, even within today’s challenging economic environment.”
Vladimir Vargas, president and chief executive of ITS, adds: “ALAF’s investment will help accelerate our entry into new markets with our entire suite of integrated services that help clients manage their IT infrastructure. This transaction validates our good financial health, our capacity to innovate and our technical expertise, all to the benefit of those who are part of ITS.”
ALAF invests in Colombia, Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Panama and Peru.