TTR Dealmaker Q&A with Pérez-Llorca Partners Iván Delgado and Mauricio Piñeros

TTR: The recent integration with Gómez-Pinzón marks an important milestone for Pérez-Llorca. What motivated this decision, and why did you choose Colombia as the first step for your direct expansion into Latin America?

The merger with Gómez-Pinzón arose from an opportunity that emerged naturally. It did not result from an active search, but from the alignment of strategic plans and a shared vision for growth. Colombia is a particularly attractive market, with a dynamic economy and in a key position for investment flows into the region from the United States, Europe, Mexico, Asia and other South American countries.

Gómez-Pinzón is, moreover, the perfect partner with which to take this step: a firm with a long history, an excellent team, and great prestige in its market. Together we share the ambition to build a leading practice in Colombia and provide clients with first class advice. This integration not only strengthens our presence in Latin America, but also boosts our internationalisation strategy in the region with a project that we are very excited about.

TTR: What strategic synergies do you identify between the Spanish and Colombian markets? What types of investors or clients are leading transactions between both jurisdictions?

Spain and Colombia have a very close relationship, with economic and cultural ties that facilitate investment and create many opportunities in both directions. There is a clear synergy in sectors such as energy, infrastructure, finance, technology and cross-border M&A transactions, where demand for solutions that combine local knowledge with international experience continues to grow.

Our commitment to remaining close to our clients in all their investment plans has been the driving force behind our internationalisation strategy. Today, many of these transactions are led by multinationals and international funds. The integration with Gómez-Pinzón enables us to work more closely with them and provide the advice they need in both jurisdictions, with teams operating as one.

TTR:  How would you describe the performance of the Colombian mergers and acquisitions market so far in 2025? Which sectors are showing the greatest dynamism or appeal for international investors?

In 2025 we have seen an uptick in M&A transactions in Colombia. The most dynamic sectors have been technology, telecommunications (especially with regard to towers), renewable energy, infrastructure, health, mass consumption and financial services. In these sectors, local companies have attracted significant investor interest.

Colombia remains attractive to international investors because of its strategic position in Latin America.  This is coupled with a strong domestic market, increasingly integrated into regional trade, and a resilient business class, capable of generating strategic alliances that drive competitiveness. As a firm, we see clear opportunities to support complex transactions that respond to this active and changing environment.

You can read the full interview here.