Mexico City, Mexico – July 1, 2026
Linzor Capital Partners, a Latin American private equity firm with over US$1.4 billion invested since 2006, has closed the acquisition of a majority stake in Numaris, one of Mexico’s leading providers of telematics, fleet management, and logistics software solutions (the “Company”).
Founded by Juan Pablo Baeza and Mateo Cantú through a search fund model and expanded through a combination of organic growth and strategic acquisitions, including Tecnocontrol, Smart Tracker, Easy Track, SFleet, and Traffilog, Numaris has developed a comprehensive technology platform serving more than 2,600 businesses across more than 20 sectors, managing over 230,000 connected solutions across Mexico. The Company provides mission-critical solutions that help businesses improve fleet visibility, operational efficiency, maintenance management, asset security, compliance, and logistics performance.
As part of the transaction, Linzor will partner with Numaris’ existing leadership team, including Co-Founder and Chief Executive Officer Juan Pablo Baeza, who will continue to lead the Company.
“Numaris has built an exceptional platform with a clear leadership position in an attractive and growing market,” said Gerardo Biagi, Partner at Linzor Capital Partners. “We are excited to partner with the entire Numaris team to accelerate growth, further strengthen the platform, and pursue strategic acquisition opportunities across the region.”
“We believe Linzor is the ideal partner for our next stage of growth. Their experience scaling businesses across Latin America, combined with their operational capabilities and long-term perspective, will help us accelerate our vision and continue delivering real value to our customers, employees, and partners,” said Juan Pablo Baeza, Co-Founder and CEO of Numaris.
“What began as an entrepreneurial vision has evolved into a market-leading technology platform serving thousands of businesses across Mexico. We are incredibly proud of everything the Numaris team has accomplished, and we are confident that, with Linzor’s support, the Company is well positioned to continue its next phase of growth and innovation,” said Mateo Cantú, Co-Founder of Numaris.
An investment thesis centered on growth and impact
Mexico is one of the four largest logistics markets in the world by freight volume and manufacturing output, yet a large share of the country’s carriers — particularly smaller and mid-sized operators — continue to manage their fleets through partial or analog tools, limiting their ability to improve safety, efficiency, and competitiveness. The transport sector contributes nearly a quarter of Mexico’s greenhouse gas emissions, fuel represents up to half of fleet operating costs for logistics companies, and road accidents involving trucks account for a disproportionate share of the more than 15,000 traffic fatalities recorded annually in the country. These challenges represent both a meaningful economic burden and a significant opportunity for technology-led improvement.
Linzor believes Numaris is uniquely positioned to address them at scale. The Company’s integrated platform, which combines AI-powered analytics, route optimization, fuel-control systems, driver-behavior monitoring, predictive maintenance, and real-time asset visibility, has helped clients achieve fuel savings of 20–30% and reductions in road incidents of up to 65%. These outcomes are aligned with Linzor’s value creation approach, which seeks to generate financial returns alongside measurable benefits for clients, workers, and communities.
The strong structural tailwinds supporting the Mexican logistics sector further reinforce Numaris’ growth potential. These tailwinds include the acceleration of nearshoring activity, the continued growth of e-commerce, and rising expectations for safety and compliance across supply chains. Linzor sees significant opportunity to invest in product development, expand the platform’s geographic reach, and pursue strategic acquisitions across the region.
System-level investing and development potential
Alongside Linzor, the investment includes participation from the International Finance Corporation (IFC), a member of the World Bank Group, and Proparco, the private sector financing arm of the Agence Française de Développement (AFD) Group.
The participation of these institutions reflects the development potential embedded in Numaris’ business model. Mexico’s logistics sector is critical to national competitiveness and economic formalization, yet it has been historically underserved by integrated technology: logistics infrastructure lags well behind peer economies, and most carriers, particularly smaller operators, have operated without access to enterprise-grade fleet management tools. By making those tools accessible to businesses across various sectors, Numaris contributes directly to the productivity, safety, and formalization that underpin Mexico’s economic development and its deeper integration into global supply chains.
Numaris also plays a growing role in expanding financial access. The Company works with more than 180 financial institutions to extend vehicle financing to businesses and individuals that would otherwise face barriers to formal credit by providing the real-time asset visibility and risk-management capabilities that allow lenders to reach customers they would otherwise be unable to serve. For the smaller carriers that form a significant share of Mexico’s transport ecosystem, access to financing on these terms represents a meaningful step toward long-term formalization and economic inclusion.
Looking ahead
As part of the partnership, Linzor and Numaris will focus on expanding the Company’s market leadership position while supporting customers through increasingly data-driven and technology-enabled logistics operations. Linzor will also work with the Numaris team to drive an impact and sustainability agenda focused on three areas: improving road safety outcomes through AI-powered monitoring and behavioral analytics; reducing carbon emissions through route optimization and fuel-efficiency tools; and expanding access to fleet technology for the smaller operators that have historically operated outside the reach of enterprise solutions. Numaris’ management team has demonstrated a strong commitment to this process, and the Company’s current platform and organizational phase provide a strong foundation.
The investment in Numaris reflects Linzor’s continued commitment to partnering with businesses whose core commercial model generates genuine development value in Latin America.
About Linzor Capital Partners
Linzor Capital Partners is a leading private equity firm focused on the Latin American middle market. Since its founding in 2006, Linzor has invested over US$1.4 billion across healthcare, technology, telecommunications, education, financial services, and consumer sectors. The firm applies a hands-on, operational-centric value creation approach and has developed a robust responsible investment framework integrated across the full investment cycle. More information is available at linzorcapital.com.