Advent International sells its stake in Ocensa
BOSTON, MA and BOGOTÁ, COLOMBIA, February 11, 2020 – Advent International (“Advent”), one of the largest and most experienced global private equity investors, today announced the indirect sale of its entire 22.4% stake in Oleoducto Central S.A. (“Ocensa” or “the Company”), Colombia’s largest crude oil transportation system. Cenit S.A.S. (“Cenit”), a wholly-owned subsidiary of Ecopetrol S.A., Colombia’s largest integrated oil and gas company, will retain majority ownership of Ocensa.
“We are pleased with Ocensa’s achievements since our investment in 2013. It has been a gratifying experience in which we were aligned with our partners and the Company’s management team since the beginning,” said Mauricio Salgar, a Managing Director and Head of the Andean Region at Advent International. “In collaboration with Ocensa and as a result of our fruitful partnership with Ecopetrol and Cenit, we have accelerated the company’s value creation plan, improved its competitiveness and significantly expanded its capacity. Ocensa has established itself as the undisputed leader in Colombia’s midstream industry with a proven track record of safety and reliability.”
Advent International has been investing in Latin America for 24 years, during which time it has completed more than 60 investments across the region. Advent has had a presence in Colombia since 2011 and has invested over $1 billion in companies such as Alianza Fiduciaria, Alianza Valores, Grupo Biotoscana, GTM, LifeMiles and Ocensa. The Bogotá office is part of Advent’s pan-Latin American network of four offices with 40 investment professionals, representing the largest dedicated private equity team in the region.
ABOUT ADVENT INTERNATIONAL
Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 350 private equity transactions in 41 countries, and as of September 30, 2019, had $56.6 billion in assets under management. With 15 offices in 12 countries, Advent has established a globally integrated team of over 200 investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services; health care; industrial; retail, consumer and leisure; and technology. After 35 years dedicated to international investing, Advent remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.