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Advent acquires majority stake in Uruguayan consumer credit company08/02/2007. Source: AltAssets. 
 Mid-market buy-out firm Advent International has acquired an 80 per cent interest in Pronto!, a consumer credit company in Uruguay, from a group of local individual investors. The value of the all-equity transaction and other financial terms were not disclosed.
Argentinian financial services group Grupo de Servicios y Transacciones has co-invested with Advent in Pronto!, and Pronto! founder and CEO Martín Guerra has retained a minority stake in the company.
Montevideo-based Pronto! provides consumer loans to low to middle-income individuals through a network of 36 branches covering the entire country. The company also recently launched a credit card business through an agreement with Cabal, a local credit card.
Juan Pablo Zucchini, a partner in Advent's Buenos Aires office, said, 'We have analysed a large number of companies in this sector and believe Pronto! has one of the industry's strongest platforms in terms of management, credit scoring, databases, distribution network and compliance. We look forward to working with Martín Guerra and his team to build a business of significant scale in the Uruguayan consumer credit market.'
Since inception, Advent has raised $10bn in private equity capital and completed approximately 200 buy-out and private equity transactions valued at over $27bn in 35 countries.
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