San Francisco, California and Irving, Texas – October 12, 2020 – Housatonic Partners, a growth-oriented private equity firm focused on investing in recurring services companies, today announced an investment in MaxiTransfers, a money service business that has been serving the Latin American community in the U.S. since the early 2000’s.
Over the last two decades, MaxiTransfers has established itself as a leading service provider for fast, secure, and reliable international money transfers, and has developed a loyal base of agents and remittance senders across the U.S. The company operates through a network of over 2,800 active agents in 44 U.S. states and over 40,000 payers in 17 Latin American countries. In addition to money transfers, the company also offers extended services such as bill payments, pre-paid long-distance calling, and cell phone top-ups.
Gabe Manjarrez, an executive with extensive experience in the Latin American consumer finance industry, will join the company as Chief Executive Officer. Luis Cerrilla, the company’s Chief Executive Officer since 2008, will remain with MaxiTransfers as President.
"I'm very excited to join the Maxi team. Luis and his leadership group have built a very valuable company by focusing on providing the best service to their agents and remitters,” said Manjarrez. “Housatonic's deep expertise in building high-growth, high-margin consumer businesses will be key to unlocking Maxi's potential as it continues to expand across the U.S."
Housatonic Partners Managing Director Joe Niehaus, who has joined the MaxiTransfers Board of Directors, added, “I look forward to working with Gabe and Luis to develop the products and services which will allow Maxi to better serve its customer base.”
Financial terms of the transaction were not disclosed.
MaxiTransfers is a money services business serving the US-Latin American corridor since the early 2000’s. The company offers money transfer services, bill payment, pre-paid long-distance calling, and cell phone top-ups. Based in Irving, Texas, MaxiTransfers operates through a network of over 2,800 active agents in 44 U.S. states and over 40,000 payers in 17 Latin American countries. For more information, please visit WWW.MAXI-MS.COM.
About Housatonic Partners
Housatonic Partners is a private equity investment firm founded in 1994, with more than $1.3 billion in capital under management. The firm invests in growing, profitable businesses with highly recurring revenue. Housatonic Partners has backed exceptional management teams in more than 90 small to mid-sized companies over the last 26 years. For more information, please visit WWW.HOUSATONICPARTNERS.COM.