Spanish and Mexican flags. Photo: ShutterstockSpain's ECIJA Absorbs Mexican Law Firm in Widening International Expansion
The firm plans additional mergers in the near-term as it seeks to cover more of Latin America.
January 15, 2020 at 03:24 PM
3 minute read
Spanish law firm ECIJA has inked a deal to absorb Mexican firm Chacón & Rodríguez as it continues to broaden its global expansion.
ECIJA said the latest addition makes it the biggest Spanish law firm in Latin America. It operates in nine countries in the region, as well as in Puerto Rico. Worldwide, the Madrid-based firm, which specializes in technology, data privacy and intellectual property, has more than 500 lawyers, including 96 partners, in 22 offices.
Managing partner Alejandro Touriño said the move into Mexico centers on the firm's obligation to provide global coverage to clients. "Spain is the second-largest international investor in Mexico, and we see that investment appetite is going to continue being positive," he said.
According to Spanish bank Santander, Mexico, Latin America's second-biggest economy after Brazil, ranks 15th globally for foreign direct investment, having attracted $31.6 billion in 2018. Spanish investors accounted for about 13% of those inflows—just ahead of investment from Canada but well behind the U.S.
ECIJA clients that do business in Mexico include German luxury fashion brand Hugo Boss and Swedish health care company Getinge.
Chacón & Rodríguez brings 21 lawyers, including four partners, to ECIJA. Since its founding more than 15 years ago, the multidisciplinary Mexican firm has worked on transactional and corporate issues for a variety of sectors, including pharmaceuticals, real estate, technology and energy.
Founding partner Ricardo Chacón said the combination has flowed smoothly, as both firms share "values and common principles," such as a commitment to diversity and meritocracy in their structures.
ECIJA has absorbed 15 firms over the past two years and Touriño says more additions are yet to come as the Spanish firm sees more "relevant markets" to cover. That expansion could include additional countries in Latin America where ECIJA does not yet have a presence, the firm said.
In addition to Spain and Mexico, ECIJA has lawyers in Chile, Costa Rica, the Dominican Republic, El Salvador, Guatemala, Honduras, Nicaragua, Panama, Portugal and the United States.
"The wager of our clients for the Latin American market is clear. For many Spanish companies it's a natural leap," ECIJA said.
The firm says Latin America is also a desirable place to expand for other European and even Asian companies that view Spain as a gateway to the region.
Last year, ECIJA signed a strategic alliance with Beijing-based Grandall Law Firm that covers key markets for China's Belt and Road Initiative.
The Belt and Road Initiative seeks to strengthen trade routes and infrastructure around the world for the benefit of Chinese companies and global trade. In Latin America, China plans to finance infrastructure projects that include a water treatment plant in El Salvador and upgrades to the power distribution network in the Dominican Republic.
|Read More:
Chinese Firm Grandall Inks Spanish Alliance, Eyes Europe, Latin America Opportunities
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