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Miguel Arrigoni
First Corporate Finance Advisors S.A. · Argentina
First Corporate Finance Advisors S.A.
Private Equity · Argentina
First Corporate Finance Advisors S.A. (FIRST) is a leading financial services group with more than 30 years of experience in the Argentinean and Latin American markets.
Some of the firm’s highlights include:
• Participating in more than 60 M&A transactions;
• Completing more than 500 valuations across the region in the past 10 years;
• Taking over 95 companies to the local capital markets;
• Structuring more than 1,000 series of trust securities valued at more than US$15 billion with an 80% market share - FIRST has been closely linked to the development of the local capital markets;
• Advising on corporate restructuring deals worth more than US$ 2 billion.
FIRST has three complementary business units that include corporate finance, capital markets and a specialised private equity business and team. The private equity team is led by seasoned professionals with strong finance and operating experience in the region.
With a structure of more than 90 people, FIRST is one of the largest corporate finance and financial services advisory firm in the region. The firm has a direct presence in Argentina, Uruguay, Brazil, Colombia and London.
“Our consolidated market position has been an advantage for deal origination and execution,” said Mr Arrigoni.
FIRST specialises in providing highly sophisticated services to a wide range of diversified clients comprising:
• Major domestic and foreign company groups;
• Family businesses;
• National, provincial and municipal governments;
• Private equity funds & hedge funds.
Mr Arrigoni noted that M&A activity and private equity investments in Argentina have not been significant in the past decade compared with the rest of LATAM countries.
“However, the scenario has changed, and the recent change in government will bring Argentina back to the international financial markets, following the implementation of recent key economic reforms, which will bring new opportunities for foreign investors,” he explained. “Entry of foreign players is expected in the short and medium term.”
“From FIRST we provide some perspective and understanding of Argentina’s current political and economic environment and provide input on why Argentina is becoming again attractive for PE investors.”
The firm has worked across and specialised in a broad range of industries in Argentina and has close contact with the main local players.
“Local companies are usually family run, face professionalisation challenges, and require capital to grow, in a local market that is becoming more dynamic,” he continued. “We help foreign investors understand and adapt to the local business context.
“Valuations are another key item. Company valuations in Argentina have continued to be significantly below regional peers. As the economy gradually opens and the M&A flow increases, valuations are expected to increase. Timing is a key component: we help our clients to anticipate changes and develop successful market entry strategies.”
In the next year the firm plans to expand its private equity portfolio and alliances with private equity players, continue to identify industries and sectors were value could be created, consolidate its presence in the main international and regional markets, and expand investment banking services.
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