Union Acquisition Group

The firm operates a hybrid strategy centered on sponsoring Special Purpose Acquisition Companies (SPACs) to acquire private businesses, then layering post-merger structured financing — including PIPEs, convertible notes, and venture debt — into its portfolio companies. Target sectors span energy, industrials, pharmaceuticals, and technology, with a demonstrated appetite for cross-border transactions linking US public markets with Latin American operating assets. The approach more closely resembles a merchant-banking model than a traditional committed-capital private equity fund.

Union Acquisition Group has sponsored two NYSE-listed SPACs: Union Acquisition Corp. (2018, $125 million) and Union Acquisition Corp. II (2019, $215 million). Each vehicle raised capital through an initial public offering with a two-year window to identify and complete a business combination with a private target company. Sponsor economics — including founder shares and warrants — align the firm's incentives with public shareholders, while post-merger financing facilities give the firm continued capital-deployment roles after the de-SPAC transaction closes.

In March 2021, Union Acquisition Corp. II entered a definitive business combination agreement with Procaps Group, a Latin American integrated pharmaceutical company, at an approximate $1.1 billion enterprise value. The deal closed in September 2021, taking Procaps public on Nasdaq under ticker PROC. The transaction is significant because it demonstrates the firm's capacity to structure complex, cross-border SPAC mergers involving US public markets and Colombian operating assets — a competency few boutique firms execute at deal scale.

No. Union Acquisition Group does not appear to raise blind-pool private equity funds from institutional limited partners in the conventional sense. Its primary capital-formation vehicles have been publicly listed SPACs, where investor capital is raised through IPOs, and post-merger financing rounds. This replaces the LP-GP relationship with a public-markets structure, shifting the economics to sponsor promote and co-investment rather than management fees on committed capital.

Public filings name directors and executive officers connected to Union Acquisition Group's SPAC vehicles, typically drawing from South Florida-based professionals with backgrounds in cross-border merchant banking and Latin American corporate finance. However, the firm does not maintain a public-facing website team page or disclose a principals roster beyond what is required in SEC registration statements, making the full decision-making core difficult to map from public records.