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The first acquisitions in Chile (Glasstech and St Andrews SA) took place in 2004. Despite these pioneering efforts, and a more recent deal (Demarka in 2021), very few searchers have ventured into this market over the past two decades. This has not stopped Luis Hernández and Ignacio Contreras from bringing on board prominent investors to support the creation of Legado Condor, a SF through which they will seek to acquire a Chilean SME, growing it sustainably while ensuring the continuity of what has been built. They are backed by Ambit Partners, Spectra Investments, Vonzeo Capital, Itaca Capital Partners, Will Thorndike, Simon Webster, Bietou Capital, AIJ Global, Novidam, 9T Capital, Ventus, KYR, Cabiedes Inversiones, Hakuba Capital Management, BM Holdings, Colca Capital and Rodrigo Castro.
Industrial civil engineer Luis Hernández brings over 20 years of experience as an entrepreneur and consultant. He founded WinnerGo, a company built from scratch with operations in China and Chile, which was later successfully sold. Over the past nine years, he has been a recognized expert in business transformation processes at Virtus Partners, where he led more than 50 successful projects, consistently tripling business size across diverse industries and strengthening management teams. He is also the author of the book Emprender con China and was a professor at Pontificia Universidad Católica de Chile.
With a strong financial background, Ignacio Contreras has nearly 10 years of experience in family offices and consulting. He began his career as an Economic Analyst at the Central Bank of Chile and then he worked for two years as a Financial Analyst at the Family Office of Peter Döhle in Latin America, supporting investment management and portfolio company administration, before joining Virtus Partners. There, he gained experience across multiple industries including healthcare, financial services, energy, construction, IT, mining, services, retail, food, agriculture, tourism, industrials, telecommunications, consumer goods, academia, NGOs, business associations, and the public sector. He holds an MBA from MIT Sloan School of Management and completed the Strategy and Innovation Program at Harvard University.
They are looking to acquire a single company to which they can dedicate all their energy and long-term growth vision. The ideal business would have an owner committed to preserving the legacy of the company, annual revenues between US$10–40M, a high and predictable level of recurring income, a solid and experienced team, and a proven, profitable business model.
