Peru Q2 M&A value up 11% as fewer but bigger deals reshape market

Quarterly deal tally drops but value climbs

Peru’s deal market saw 22 transactions worth a combined US$760 million in the second quarter of 2026, a 10.9% rise in aggregate value from a year earlier even as the number of deals tumbled 42.1% to just 38, according to advisory firm TTR Data. The figures reflect a market in which fewer, larger transactions are dominating.

The standout deal was Spain’s Loomis Holder Spain buying armoured transport specialist Hermes Transportes Blindados for approximately US$432.5 million, accounting for more than half the quarter’s disclosed value. Logistics also featured prominently: Fibra Prime acquired Parque Logístico Lima Sur from Logistic Properties of the Americas for US$145 million, adding to a surge in real-estate related deals.

Other notable moves included InRetail’s US$130 million purchase of Panama-based financial services firm IXP Holding from IFH Retail, and Interseguro’s US$18 million office building acquisition in San Isidro. Agriculturally, Galilee Export bought a dedicated avocado-growing operation for US$10 million. TTR Data named the complex takeover of Primax’s retail fuel network by UNO Corp – spanning Colombia, Ecuador and Peru – as the quarter’s deal, though its value was undisclosed.

What the numbers say about deal logic in Peru

Why the count shrank but the cheque size grew

The 42% drop in deal count alongside a double-digit value increase signals a flight to scale. Buyers are bypassing smaller bolt-ons in favour of fewer, strategically pivotal assets. Loomis’s entry into Peru via Hermes – a cash-heavy, regulated logistics business – fits a global trend of security firms consolidating to win cross-border corporate mandates.

Real estate and logistics are absorbing capital

Six-month deal data show the real estate sector alone racked up ten transactions, up 43% year-on-year. The Fibra Prime logistics park purchase highlights the continued expansion of Peru’s warehousing and last-mile infrastructure, anchored by e-commerce and retail demand. Interseguro’s office buy in San Isidro suggests institutional investors still see value in prime Lima commercial property even as work patterns evolve.

The Primax deal: a network play across three countries

The UNO Corp–Primax transaction, though priced privately, illustrates how fuel distributors are reshaping their regional footprint. By taking control of assets in Colombia, Ecuador and Peru simultaneously, the buyer avoids piecemeal negotiation and gains immediate scale benefits in procurement and branding. The seller group, ultimately controlled by Grupo Romero, appears to have unlocked value by bundling cross-border operations.

How executives should read the new M&A landscape

• Map the deal pipeline in logistics and real estate. With ten real estate deals already this year, firms with logistics parks or well-located commercial assets should expect continued interest from both regional and international buyers looking for scale in Peru’s urban distribution networks.
• Capitalise on consolidation in security services. The Loomis-Hermes deal signals that cross-border acquirers will pay for hard-to-replicate cash-handling networks. Domestic operators with strong client books and regulatory licences are well placed to attract inbound interest.
• Expect multi-country transactions to become more common. The Primax deal shows sellers willing to package assets across Peru, Colombia and Ecuador to capture a control premium. Corporates with fragmented regional holdings may find bundling a more credible route to exit than selling country by country.