On the other hand, private equity transactions decreased by 56% over the same period last year.

The Latin American transactional market recorded a total of 630 mergers and acquisitions in the first quarter of 2025, both announced and closed, for a combined value of US$11.641 billion, according to the latest report by TTR Data, in collaboration with Datasite and Aon.

These figures represent an 11% decrease in the number of transactions and a 27% decrease in their value, compared to the figures recorded in the first quarter of 2024.

RANKING OF TRANSACTIONS BY COUNTRY

In 2025, by number of transactions, Brazil led the ranking of the most active countries in the region with 399 deals (a 3% decrease) and a 24% year-over-year decrease in capital mobilized (US$6.864 billion).

Argentina follows on the list, with 61 transactions (a 27% increase) and a 125% increase in value (US$1.75 billion) compared to the same period last year, making it the only country with positive results in the region.

Chile, for its part, also rose in the ranking , with 60 transactions (a 34% drop) and a 68% decrease in the capital mobilized (US$1.048 billion).

Mexico follows, with 54 transactions (a 40% drop) and a 46% decrease in capital mobilized (US$1.039 billion).

Colombia, for its part, recorded 50 transactions (a 33% drop) and a 71% decrease in value (US$823 million), compared to the same period last year.

Finally, Peru recorded 25 transactions (a 39% drop) and a 64% year-on-year decrease in its capital mobilized (US$202 million).

CROSS-BORDER SCOPE

In the cross-border arena, Latin American companies' investment appetite abroad stands out through the first quarter of 2025, especially in North America and Europe, where 23 and 21 transactions have been completed, respectively.

For their part, the companies that have carried out the most strategic transactions in Latin America come from Europe, with 90, North America (89) and Asia (22).

PRIVATE EQUITY, VENTURE CAPITAL

In the first quarter of 2025, a total of 29 private equity transactions were recorded, nine of which had an aggregate non-confidential value of US$1.192 billion.

This represents a 56% decrease in the number of transactions and a 40% drop in their value, compared to the same period in 2024.

In the Venture Capital segment, 130 transactions were completed in the first quarter of the year, 82 of which had an aggregate non-confidential value of US$806 million, representing a 29% decrease in the number of transactions and a 42% decrease in capital mobilized year-on-year.

FEATURED TRANSACTION

For the first quarter of 2025, TTR Data has selected as a notable transaction the sale by Colombian company Cementos Argos of its 31% stake in Summit Materials to Quikrete.

The transaction, valued at US$2.875 billion, was advised by legal counsel from Davis Polk and by financial advisors from Morgan Stanley, Evercore Partners, and Wells Fargo.

RANKING OF FINANCIAL AND LEGAL ADVISORS

The report publishes the 2025 financial and legal advisory rankings for M&A, Private Equity, Venture Capital, and Capital Markets transactions in Latin America, highlighting the activity of the firms highlighted by number of transactions and transaction value.