Rumbo Newspaper Receives Financing.

Pinto America Growth Fund, L.P. of Houston and Rustic Canyon Partners of Los Angeles announced an investment of $18 million in Meximerica Media to complete the building of its four daily Rumbo Spanish-language newspapers in Texas and continue rolling out elsewhere.

The original investor, Spain’s Grupo Recoletos, sold control of the company back to Meximerica’s management in April of this year as Recoletos was marshalling capital to undertake its own management buyout in Madrid.

“We’re extremely excited by this opportunity,” said Renee LaBran. “The Rumbo newspapers, with what may be the most advanced publishing technology in the industry, have an eminently scalable model and superior editorial quality. Most importantly, they already offer advertisers four of the largest Hispanic markets in the country.”

Richard Vaughan, managing director of Pinto Partners, added: “We are thrilled with the opportunity to partner with such a high caliber management team and to contribute some of our resources to strengthen the existing RUMBO newspapers in Texas. We also look forward to continuing to expand the Rumbo network to other underserved Hispanic markets, perhaps as early as next year.”

“We couldn’t ask for two better partners,” said Edward Schumacher Matos, CEO of Meximerica. “They know the business and the markets. Their investment is a clear indication of their confidence in our business strategy and in our commitment to bringing both a superior and fun newspaper to Latinos and to being the best vehicle for advertisers to reach Hispanics”