Sneak Preview: Mergers & Acquisitions in Mining Tech with Ivan Gustavino
In this sneak preview, Ax Legal’s Managing Partner Cody McFarlane speaks with Ivan Gustavino, Managing Director at Atrico, who has advised over 100 high-growth companies in mining, industrial tech, and software. With M&A activity heating up, Ivan breaks down what investors and buyers really look for in mining technology companies today.
Over the past few years, Latin America has quietly become a hot spot for technology suppliers looking to grow. As industries across the region modernize, there’s a real appetite for solutions that boost efficiency, improve safety, and support sustainability goals.
Working with local partners can be a highly cost-effective way to enter a new market, especially in complex regions like Latin America. However, it also comes with inherent risks—particularly for foreign companies unfamiliar with the local business landscape. Learn from our best practices to maximize sales in Latin America.
The world is more connected than ever, and mining technology and service companies are no exception. As they expand their reach globally, they need to follow their clients to new markets, from a copper mine high in the Andes to the icey cold winters of Northern Canada. When exploring new markets, it’s the classic “chicken or egg” dilemma: You want to see success before committing to the expenses of a local operation, but as soon as you start generating revenue, the risk of being classified as a PE increases.
When I first set foot in Latin America over a decade ago, I was mesmerized. The region’s vibrant culture, dynamic markets, and immense business potential captivated me. Yet, while companies were eager to enter the region, I was surprised by how many failed. They struggled to navigate an unfamiliar business environment, often stumbling over their own missteps while overlooking critical legal, commercial, and cultural differences.
Today, the mining industry is experiencing a rapid digital transformation, where nearly every product and service supplied to mines incorporates a substantial technological element. For suppliers, this shift underscores the importance of carefully managing intellectual property when contracting with mining clients.
Peru is a prime destination for mining suppliers due to the USD$55b project pipeline. As the second-largest producer of copper globally, Peruvian miners have significantly increased their investments in advanced technology, equipment, and services, making the country an attractive market for suppliers. As we approach 2025, several projects are worth watching closely, as they have the potential to begin construction in the near future.
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