The new project of Carlos Zarlenga, the former president of General Motors South America

A month and a half ago, he left his position at the helm of the company to found Qell Latam Partners, an investment fund that has the objective of acquiring companies in the region.

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After two and a half years at the helm of General Motors South America, Carlos Zarlenga placeholder image He decided leave your post at the beginning of September. The reason? Found Qell Latam Partners, an investment and operations fund that he created together with the Brazilian Francisco Valim, an experienced public company executive from your country.

The initial focus of Qell Latam Partners will be on the companies related to the automotive industry with valuations that are among the 500 and 3.000 million dollars.

Carlos Zarlenga placeholder imageZarlenga decided to embark on a new path by analyzing the current situation of the sector in this part of the world. “There is a fatigue of the multinationals with respect to South America. Many are making strategic decisions and are reviewing their presence in the region ”, admitted in an interview to La Nación.

These doubts generated by South America are not only given by the economies of the countries themselves, but also by the direction that the industry has taken. “The world has plunged into a race for electrification and Latin America is being left out, he evaluates. By 2030, 60% of the cars sold in the United States, Europe and China will be electric. In comparison, in the region the figure will not exceed between 15% and 20% ", admits

With this scenario, many multinationals are trying to sell their subsidiaries in South America, but they cannot find alternatives. “The first option would be to sell the branch to a competitor, although no one would buy it. The second is to reach an agreement with local companies, but they are not capitalized for this type of transaction. The third, the most terrifying, is to close operations ", the executive listed.

Carlos Zarlenga placeholder image“Qell is a new alternative for these companies. We are a private equity model firm, with access to capital, that seeks to buy these subsidiaries, generate scale, investment and make them sustainable. Being in this industry for so long, and being an observer of it, it seemed like a great opportunity. That is why I decided to leave General Motors and found Qell "Zarlenga explained.

Qell Latam Partners will focus on all companies in the automotive sector, from suppliers to terminals. “We are looking for companies with factories, products, engineering, technology. We will create opportunities for them to be sustainable. Both from the point of view of global companies and investors, there is a lot of interest in Qell and the proposition that we bring. We have also developed many relationships with global institutional investors. To this, I also want to add local capitals that create in the industry ", he remarked.

quell is headquartered in San Francisco and is run by its founders Barry engle, former president of General Motors North America and General Motors International; and Sam gabbita.

In September of last year he raised 380 million through an initial public offering on Nasdaq and, after pooling other 450 million, the company recently closed a merger operation of 3.000 million with the aerospace company Lilium GmbH.

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autoworld is the blog about news from the automotive industry, motorsport and the culture of the region. Director: Diego Durruti.

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