In January 2004, Advent International acquired 100% of the shares of OCA, the largest private courier and postal services company in Argentina.
OCA is involved in three businesses: transport and delivery of checks for the banking industry, transport and distribution of commercial documents, and postal services for both the retail and corporate markets.
Headquartered in Buenos Aires, the company has 6,000 employees and 700 delivery vans, serving over 8,000 corporate customers nationwide. OCA is the market leader in the corporate sector, providing value-added services to all major financial institutions in Argentina.
At the time of our investment, OCA was operating under creditor reorganization proceedings (similar to Chapter 11) after the prolonged recession in Argentina caused the company to default on certain loan payments in 2001. However its compelling business model and leading market position made it an attractive investment. Since the buyout, Advent has worked with new management on a financial and operational restructuring of the company, as well as the redesign and implementation of a new IT platform. These improvements, combined with the company's emergence from Chapter 11, have positioned OCA for its next phase of growth.
Looking forward, OCA will seek to accelerate growth by expanding into other value-added services, drawing on Advent’s global expertise in the business services sector.