Merrill Lynch Buys Convermex

Merrill Lynch Global Private Equity (MLGPE) has acquired Mexican plastics manufacturer Convermex from JP Morgan Partners (JPMP) and other investors for an undisclosed sum. Convermex is the leading supplier of disposable plastic tableware in the local market and has five plants and 18 distribution centers across the country. Merrill Lynch says that the local market offers plenty of growth potential because of favorable macroeconomic conditions and socio-demographic trends. Merrill Lynch and JP Morgan Securities acted as exclusive financial advisors to MLGPE and JPMP, respectively.