Tribeca acquires OndadeMar

Tribeca Partners investment fund, headed up by Luc Gerard, has acquired OndadeMar, a company specialized in swimwear and women´s lingerie, considered to be one of the best-known top quality brands.

After a relatively brief process, the representatives of this 100% Colombian company and Tribeca Partners, backed by Alfonso Convers, of Convers Consulting S.A., reached a mutual agreement.

For over 26 years, OndadeMar has catered to Colombia´s most demanding consumers, and the company has presence in Australia, United Kingdom, Greece, Mexico, the Caribbean, United States, and Venezuela, among others, positioning itself as one of the most solid brand names in bathing suits and lingerie.

Before Tribeca Partners made its purchase bid, OndadeMar had been working on an ambitious project to move from being a swimwear company to position itself as an international house of design. This was one more reason that attracted the investment fund´s interest, and work is being pursued to make this objective a reality by the end of 2006.

This year´s sales have been over 35% higher than in 2005, and record sales are expected during the remaining months, due to the fact that sales of the latest collection have exceeded all expectations, driven by the interest of important international buyers.

In this way, Tribeca Partners Investment Fund is betting on another important sector of the economy with great potential for growth, and it will continue seeking to expand its portfolio of companies in different sectors, investing in development, technology, and management. Earlier, Tribeca had acquired 100% of the EMI Group (Emergencia Médica Integral).