High Desert Capital and Flō Networks Announce Major Investment in TECMA

EL PASO, Texas, Sept. 6, 2023 /PRNewswire/ -- High Desert Capital, and Flō Networks, announced today that subsidiaries of their respective companies have acquired a significant stake in the Tecma Group of Companies ("Tecma" or the "Company"), a leading provider of manufacturing support services in Mexico which the Maquila Industry refers to as "Shelter Services." Tecma is headquartered in El Paso, Texas.

Alan Russell, Tecma's Co-Founder said, "This marks a defining moment for TECMA. We are pleased with the outcome of this transaction but are more excited about what the future holds for Tecma. By combining resources, we anticipate operational improvements that will add value and improve services to our customers. We will continue to be their trusted partners, handling all aspects of Mexico, as they strive to move closer to their end markets. Our clients benefit from the highly skilled manufacturing capabilities and unparalleled geographic location that Mexico and Tecma bring to the table. Our seasoned management team will remain in place and the company's operations will only get better."

"We are thrilled to be partnering with the premier provider of shelter services in Mexico. Alan and his team have built a truly unique and mission-critical business that helps its global base of customers navigate the complexities of manufacturing in Mexico with maximum flexibility and certainty," said Miguel Fernandez, CEO of Flō Networks. "We are honored to partner with Alan and his team to bring additional resources to further tech-enable and automate the business that will allow for improved operational visibility for Tecma clients.  We are also excited to bring our technology solutions to bear given some of the customer crossover between our companies."

Ed Escudero, Founder of High Desert Capital added, "Having known and observed Alan's work in the community and the broader region for decades, it's exciting to formalize this collaboration between local investors and operators. Combining our resources to take advantage of the geopolitical tailwinds marks a significant win for the region, community, employees and, most of all, Tecma's customers."

Financial terms of the transaction were not disclosed. Financing for the transaction was provided by WestStar Bank and Texas Capital Bank. Paul Hastings served as legal counsel to High Desert Capital and Flō Networks.

About Tecma

The Tecma Group of Companies was co-founded over three decades ago by current company Chairman and CEO, Alan Russell. What started in 1986 as a small operation has become an international enterprise that occupies over 8 million square feet of production, warehouse, and distribution space on both sides of the international border at El Paso, Texas and Ciudad Juarez, San Diego, and Tijuana with additional operations throughout Mexico.

Tecma's flexible business model enables clients to configure their Mexico operations to optimize their ability to achieve their manufacturing goals. It was Tecma's founders' intention to design a user-friendly business model that would streamline clients' Mexican manufacturing operations and empower clients to focus their attention solely on competencies core to their primary mission, to produce quality products.

About High Desert Capital

High Desert Capital ("HDC"), a finance company established in 2006, is a premier provider of innovative capital solutions.  Specializing in a diverse range of financial products, HDC offers business loans, asset-based loans, capital loans and accounts receivable financing.  Strategically positioned in the West Texas, Southern New Mexico, and Northern Mexico regions, HDC effectively services the unique needs of businesses in the United States and Mexico.

About Flō Networks

Founded as Transtelco in 2001, Flō Networks is a leading digital infrastructure service provider connecting companies on both sides of the U.S.-Mexico border and across the Americas. The Company provides managed data and voice services to Fortune 500, telecommunications and cable companies over a fiber optic network spanning over 22,000 route miles between the U.S. and Mexico and connects fifteen countries across the Americas. For more information, visit flo.net.

SOURCE Flō Networks

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