Carlyle takes 85% stake in Peruvian cash management biz Hermes

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peruThe Carlyle Group has acquired an 85 per cent stake in Hermes, a cash management company based in Lima, Peru, from Inversiones Centenario, Scotiabank and the Wiese and De Osma family groups, and plans to continue its growth.

Equity capital for the deal is being provided by Carlyle’s  Peru Fund and Carlyle South America Buyout Fund. Further financial details, which is  expected to close this month, were not disclosed.

The Wiese and De Osma families are understood to hold the remaining 14 per cent-plus of Hermes that Carlyle isn’t set to acquire.

Marco Peschiera, managing director and head of the Carlyle Peru Fund, said Carlyle was looking forward to partnering with “two of the most traditional family groups in the country, the Wiese and De Osma families, who have contributed to the growth and development of Peru for several generations”.

“We look forward to building on all they have accomplished.”

The acquisition of the Hermes stake was described by Carlyle as a “strategic acquisition”.

Hermes was founded some 30 years ago. It provides cash in transit services, processing and custody of money, document management, mining services, messaging, collections and payments, and employs some 2,800 employees.

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