PE Shop Makes Brazilian Infrastructure Services Investment

US-based private equity fund ACON has made a BRL110m ($53m) investment in Brazil’s BSM Engenharia, a service provider to the country’s oil and infrastructure sectors. The stake is said to be about 40% of BSM, and represents ACON’s first purchase in Brazil following the exits of its two remaining portfolio companies last year. The investment comes from the approximately $350m ACON Latin America Opportunities Fund. ACON, with local offices in Sao Paulo and Mexico City, has managed more than $2.2bn in the US and Latin America. It has made investments in Brazil, Colombia, Mexico, Panama and Ecuador, in sectors including hydroelectric power, waste management, asset management, lending institutions and retail. BSM provides equipment rental, cargo handling services, port operations and logistics support to the oil and gas, infrastructure, mining and energy industries.