Jose Antonio Arean, Finance Expert in Mexico City, Mexico
Jose Antonio Arean

Finance Expert in Mexico City, Mexico

Member since April 12, 2017
Jose has directly executed valuations worth over US$10 billion and founded Firmus—a firm offering advice in finance and economics. As a freelancer, he provides his clients with robust and thorough analyses to help them achieve optimal decisions. In addition to working extensively with public companies in financial modeling and management, he's acted as an international expert witness in commercial disputes and as an outsourced CFO for startups.
Jose is now available for hire

Career Highlights

Education

Select Certifications

Case studies

Software Expertise

Other Expertise

Employment

  • CEO

    2001 - PRESENT
    Firmus Consulting
    • Founded Firmus Consulting, delivering advice to private firms and government agencies. In 2018, the firm directly executed appraisals worth US$4 billion.
    • Served as an outsourced CFO and board member for an oil-and-gas startup in Mexico that achieved annual sales of up to US$10 million; also participated in the winning bid preparation.
    • Performed valuations and developed financial models for infrastructure projects worth over US$10 billion that were sponsored by public companies such as ICA Group, FCC-Globalvía, Goldman Sachs, and the Mexican Institute for Competitiveness (IMCO).
    • Helped in the preparation of financial statements and 10-K and 20-F forms for companies listed on the NYSE and the Mexican Bolsa.
    • Directed and supervised the valuation of nine sugar mills in Mexico worth US$500 million that were later sold to the private sector. The effort involved six consulting companies and 60 professionals.
    • Valued a pair of fiberoptic companies worth US$90 million that was later sold to the private sector by the National Mexican Power Utility.
    • Supported a company listed on the NYSE in the preparation of special reports for the Public Company Accounting Oversight Board (PCAOB) of the US Congress.
    • Served as a member of the independent engineering team of the Bolivia-Brazil gas pipeline (YPFB-Gas Transboliviano-Petrobras Consortium); responsible for the contractual, financial, and economic aspects.
    • Served as an advisor for the buying side in the acquisition of a minority stake in a private financial group based in Mexico City. The service included the valuation of the target and strategy work sessions with the buyer aimed at building a negotiation strategy.
    • Valued a premium US$120 million land property in Northwestern Mexico for the construction of office and housing projects (1,200 acres).
    • Formed part of a multidisciplinary IFC team (World Bank Group) that assessed the business plan of a specialized lender based in New York serving the market of cane growing and sugar production in Latin America (a US$50 million program).
    • Valued the assets and shareholders equity of a leasing company based in Mexico City specializing in consumer products (US$20 million).
    • Conducted the valuation of CostaBaja Resort in the Sea of Cortez comprising a hotel, marina, and a championship golf course (Gary Player Signature). The business was valued as well as the real estate developed by Prudential.
    • Managed the debt restructuring of a public facility managed by a database worth US$235 million and restructured the indenture contract regarding debt coverage ratios in their relation to the dividend payments. All the debt coverage ratios and dividend payment clauses were redrafted and successfully implemented. CDPQ is a shareholder in the venture.
    • Completed an expert witness report to support the reimbursement of US$200 million in damages to an EPC contractor led by GE on a US$1 billion hydroelectric project.
    • Conducted an M&A valuation of an amusement water park acquired by Six Flags. Tariff structure was also developed based on an elasticity analysis I performed based on a supply-demand exercise.
    • Implemented and economic, financial, and tax feasibility evaluation of more than 20 Combined Cycle power projects as proposed by Électricité de France, Iberdrola, and GE, among others (totaling 2,400 MW in five years).
    • Performed a feasibility analysis and prepared bid documents and roadshow material for a PPP multipurpose pipeline project in Costa Rica. Designed the tariff structure for the hauling of fuels.
    • Determined the efficient electricity prices in the US and Mexican markets. In the latter case, the cost structure of the service was broken down by segment in order to determine the marginal cost to the utility and final price for households and industries by a range of consumption.
    • Evaluated the economic contribution of anglers to the Los Cabos economy: the Billfish Foundation funded a study to estimate the economic benefits from sport fishing at Los Cabos. Designed an economic model considering information limitations in Mexico regarding input-output matrices and multipliers. The study is now an international reference, having been published in the Interdisciplinary Environmental Review in 2010. Services included processing data obtained through extensive surveys applied among the private sector in Los Cabos.
    • Built, for sustainable tourism in the Sea of Cortez, models to simulate scenarios of touristic development, allowing to compare environmental impacts under pre-established sustainability criteria.
    • Modified conventional environmental practices to arrive at an ad-hoc methodology. Direct and indirect multiplying effects were measured for different types of tourism in seven specific corridors in the five Northwestern states of Mexico.
    • Completed the valuation of seven high-end hotels operating under premium brands: Four Seasons, Rosewood, Banyan, One & Only, among others.
    • Prepare a valuation and prospectus for a natural rubber plantation in SW Mexico. Global NR supply-demand balance and prices were forecasted.
    • Created business plans for diverse tropical crops such as mango, natural rubber, teak, mahogany, and pineapple in SE Mexico. Intended to raise funds from government-owned development banks.
    • Composed a business plan and prospectus to raise capital for a Christmas-tree plantation in Central Mexico intended to substitute imports from the US and Canada.
    • Made a valuation of the Americas' complex comprised of the Citibank convention center, racetrack, casino, and sports bets parlor.
    • Implemented a valuation and business plan review of 60 sport betting parlors and casinos in all of Mexico. Operated by the Spanish multinational, Codere.
    • Performed a valuation on the ongoing business of multinational hotel and gaming multinational Codere. Service comprised consolidated valuation as well as Latin American and Mexican segments.
    • Generated a valuation of an online sports bets and gaming brand.
    • Gave a valuation of online travel agents Mexikoo as an ongoing business.
    • Made valuations of vegan foods brands.
    • Made an evaluation of the sale of Enlaces Integra, a subsidiary of Eutelsat providing aggregated satellite services in Latin America and the Caribbean.
    • Developed one of the biggest power utility companies in Latin America of the tariff structure to offer carrier services via its fiber optics network.
    Focus areas: Projects, Infrastructure, Financial Risk Assessment, Financial Reporting, Financial Planning & Analysis (FP&A), Financial Modeling, Financial Management, Strategy, Finance, Real Estate, Commercial Finance, Equipment Finance, International Finance, Corporate Finance, Asset-based Finance, Project Finance
  • Financial Analyst and Director

    1995 - 2001
    Serficor
    • Valued and restructured US$600 million of debt held by a vertically integrated edible vegetable oils and shortenings company located in Southeastern Mexico.
    • Reviewed the business plans and valued several firms in diverse sectors: non-woven fabrics, auto parts, and ASTM publishing (companies worth over US$50 million).
    • Advised on the IPO plan for a wholesale and retail firm operating across Mexico under the 7-Eleven brand. The service included the valuation of the ongoing business through the discounted cash flows and market multiples methods.
    • Valued Barilla's business plan to expand into Mexico via a brand's acquisition. Discounted cash flows and multiple valuation models were prepared to value a portfolio of brands worth over US$80 million.
    • Valued and negotiated the debt restructuring of an all-inclusive hotel operation in the Sea of Cortez (worth US$30 million).
    Focus areas: Asset-based Finance, Finance, Real Estate, Capital Structure Analysis, Corporate Finance, Project Finance, Debt Restructuring, Mergers & Acquisitions (M&A)
  • Financial Analyst and Director

    1991 - 1995
    Isefi-HSBC
    • Prepared the financial model and part of the prospectus in the issue of a US$600 million debt financing for the construction of the Huites dam project in Northern Mexico. A Eurobond was issued by Bear Sterns and Lehman Brothers.
    • Led the preparation of Babcock & Wilcox's commercial proposal for the construction and operation of the coal terminal in Lázaro Cárdenas port (worth US$250 million).
    • Created the privatization plan for the Mexican ports in the State of Quintana Roo that formed part of the Port Reform Act of 1993.
    • Obtained letters of intent of Mexican banks to support the ICA Group and Cydsa's financial proposals for sewer treatment plant projects in Mexico (worth US$30 million).
    • Valued and prepared a prospectus for Acer IPO in the NYSE and Mexican Bolsa.
    Focus areas: Financial Planning & Analysis (FP&A), Strategy, Financial Modeling, Financial Engineering, International Finance, Equipment Finance, Asset-based Finance, Finance, Real Estate, Commercial Finance, Corporate Finance, Project Finance
  • Financial Analyst

    1988 - 1991
    ICA
    • Prepared the financial models for the winning bids of over 2,000 km of toll roads concessions worth US$12 billion.
    • Led the financial modeling for the financing of the La Zurda water supply project in Guadalajara City. A syndicate of banks advanced funds for US$300 million.
    • Developed the financial models for the bids of urban public service concessions projects—resulting in winning the concession to operate the Aguascalientes City water supply and drainage system (population of 1 million).
    • Created and managed the financial modeling for a cruise ship terminal project in Cozumel, México.
    • Prepared board presentations for the CFO of a company listed in the NYSE and the Mexican Bolsa.
    Focus areas: Financial Planning & Analysis (FP&A), Financial Modeling, Equipment Finance, Commercial Finance, International Finance, Corporate Finance, Project Finance

Education

  • Specialty degree in Business Valuation
    2012 - 2013
    Mexican College of Civil Engineers - Mexico City, Mexico
  • Master's degree in Finance
    2004 - 2007
    National University of Mexico - Mexico City, Mexico
  • Bachelor's degree in Civil Engineering
    1978 - 1982
    National University of Mexico - Mexico City, Mexico

Certifications

  • Advanced Valuation (High Honors)
    JANUARY 2019 - PRESENT
    Leonard N. Stern School of Business, NYU

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