Ceiba Capital

Search fund · Mexico & the Andean region

We're looking for one great company to lead for the long term.

Ceiba Capital partners with founders and families who are ready to step back. We acquire one profitable business, run it full time ourselves, and keep its name, team and culture.

Start a confidential conversation What we look for
Target sizeUS$2–4M EBITDA
GeographyMexico, Ecuador & the Andean region
Our commitmentTwo full-time operators

For business owners

A third option for succession.

Many profitable founder- and family-owned companies have no natural successor. Private equity funds often find them too small, and a sale to a competitor can mean losing the company's name and the people who built it. A search fund offers another path.

Private equity

Often not available to companies of this size, and typically focused on a short holding period.

Strategic buyer

Can mean folding the company into a larger group, with changes to its brand, team and culture.

Ceiba Capital

Two committed operators who move to where your company is, run it day to day, and build on what you created.

01

We run it ourselves

After the acquisition, we both step in as co-CEOs and run the company day to day. We are not a passive owner.

02

We keep what works

Our first months are about learning the business from you and your team before changing anything.

03

A transition on your terms

You choose how involved to stay. We can structure a gradual handover, and seller participation where it makes sense.

04

Discreet from day one

Every conversation is confidential. We are happy to sign an NDA before we see any information.

What we look for

Established, profitable, and ready for its next chapter.

We stay open on industry and look for companies that meet most of the criteria below.

Size
US$2–4 million of EBITDA and an enterprise value of up to about US$20 million.
Profitability
A history of stable or growing profits and healthy margins.
Revenue quality
Recurring or repeat revenue and a diversified customer base.
Market
Fragmented markets with room to grow, low technology and regulatory risk, and modest capital needs.
Situation
An owner looking to retire or step back, with no family successor.
Operations
Formal accounting and tax records, or a clear path to them before closing.

Sectors of interest

  • Business services
  • Education
  • Healthcare services
  • Software
  • Specialized distribution

Where we're looking

  • MexicoLatin America's most active search fund market.
  • EcuadorA dollarized economy with transparent public company filings.
  • The Andean regionIncluding Colombia and Peru.

We're also open to smart opportunities in other countries.

For M&A advisors, accountants, lawyers and banks

Know an owner thinking about what comes next?

We work with advisors who serve owner-managed companies, and we respect your relationship with your client. Expect a fast, clear answer on fit and a professional process from first call to closing.

Introduce a company

The team

Two partners, one company, full commitment.

We met at Vassar College in 2013 and have been best friends ever since. We've been through good times and hard ones together, and we know each other well enough to know how each of us will react when things go well and when they don't. That trust is the foundation of Ceiba.

Juan Pablo Fernández

Co-founder · Co-CEO

Nine years at Banco de México, most recently as Deputy Manager of Investments and Operations for a pension fund with about US$2.5 billion in assets, and before that as Head Trader for foreign exchange and commodities for Mexico's international reserves.

  • MBA, The Wharton School
  • MA, The Lauder Institute
  • BA, Vassar College

Ricardo Espinosa

Co-founder · Co-CEO

Co-founder and COO of Lannis, a Latin American tax technology company. Previously led a 50-person department at Universidad de las Américas in Ecuador, advised Fortune 500 clients at Kaiser Associates, and covered Latin American clients in private banking at J.P. Morgan.

  • MBA, Berkeley Haas
  • BA, Vassar College
  • London School of Economics

Advisors

Francisco Ceballos Former Country Manager of MercadoLibre for Mexico and Colombia; later ran Despegar in Mexico and the US. Private investor since 2014.
Felipe Martinez Former CEO of Universidad de las Américas and Chief Risk Officer of Produbanco in Ecuador. Founder of Perfila.ai.

Why “Ceiba”

The ceiba is one of the great trees of Latin America: deep roots, a wide canopy, and a lifespan measured in generations. It's how we think about ownership.

Contact

Let's talk.

Whether you own a business, advise one, or would like to learn more about Ceiba, we'd be glad to hear from you. All conversations are confidential.

Mexico City · Quito

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