ACON Investments Acquires Controlling Stake in Rymel
September 3, 2024
ACON Investments has acquired a controlling (majority) stake in Rymel, a Medellín-based manufacturer of power distribution transformers, with founder Jaime Cardona and his family retaining an ownership interest. The investment — supported by co-investors including DEG, FMO and Proparco — will support Rymel's expansion of manufacturing capacity and commercial coverage across the Americas amid rising demand from utilities, data centers and energy-transition projects.
- Buyers
- ACON Investments, DEG, FMO, Proparco
- Targets
- Rymel
- Sellers
- Jaime Cardona and family
- Industry
- Manufacturing
- Location
- Antioquia, Colombia
- Transaction Type
- Buyout
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