Equifax announced a definitive agreement to acquire Círculo de Crédito, a credit information services company and the fastest-growing credit bureau in Mexico. The deal values Círculo de Crédito at an enterprise value of $750 million.
The acquisition would expand Equifax into Mexico, the second-largest economy in Latin America. Equifax said the deal aligns with its strategy of investing in accretive bolt-on acquisitions that strengthen its global business.
Círculo de Crédito customers are expected to gain access to Equifax’s cloud-native capabilities, patented EFX.AI technology, identity protection offerings, and fraud prevention products. Equifax said these capabilities can help customers develop solutions that support growth and expand financial inclusion.
For the 12 months ended June 30, 2026, Círculo de Crédito generated estimated revenue of $134 million, up 31%, along with $62 million of adjusted EBITDA. The company is expected to continue delivering high double-digit revenue growth in 2026 and is expected to be accretive to Equifax adjusted EPS in the first full year of ownership.
Círculo de Crédito is the only Mexican credit bureau currently operating both consumer and commercial credit bureau services. The company serves more than 1,700 bank, retail, fintech, small business lending, microfinance, and telecommunications customers.
The company has 2 billion tradelines covering 80 million validated identities. It is also a leader in alternative data, including gig-economy transactions and utility and telecommunications payment history.
Equifax said alternative data can responsibly expand access to credit and support a more inclusive economy. This is especially important in Mexico, where more than 25% of the population lacks access to formal financial products and nearly 44% does not have a bank account.
Under the agreement, Equifax will acquire 100% of Círculo de Crédito equity from existing shareholders. These include Banca Afirme, Coppel, Grupo Elektra, and a group of private investors.
Upon completion, Juan Manuel Ruiz Palmieri and the Círculo de Crédito team will continue to lead the company. Círculo de Crédito will join the Equifax International business team.
The transaction is subject to customary closing conditions and regulatory review and approval. It is expected to close in the fourth quarter of 2026.
KEY QUOTES:
“The acquisition of Círculo de Crédito will expand Equifax’s presence in the fast-growing Mexico market and marks an energizing new global chapter for both companies. The acquisition is aligned with our strategy to reinvest our strong free cash flow in accretive and strategic acquisitions to strengthen Equifax. Círculo de Crédito will be our 17th bolt-on acquisition in the past six years, totaling nearly $5 billion. Our strong performance and balance sheet allow Equifax to reinvest in growth, return cash to shareholders and acquire accretive and strategic acquisitions. Mexico is one of the fastest-growing credit markets globally. More than 25% of the Mexican population is without access to formal financial products, and nearly 44% of the population does not have a bank account. Equifax and Círculo de Crédito have a shared commitment to helping more consumers live their financial best, and together we will continue to offer deeper alternative data and unique insights that can help our customers deliver unique solutions to expand their consumer credit offerings.”
Mark W. Begor, CEO of Equifax
“We are energized to join the Equifax team and have access to their industry-leading cloud-native technology, platforms, and products to help our customers grow and expand our position in Mexico. Consumer credit growth in Mexico is driven by inclusion and digitization, and Círculo de Crédito has been a first-mover in the market with the market’s broadest data set and innovative solutions. We provide strategic data, decision-making, and digital solutions that empower lenders to deliver innovative financial services products across Mexico and expand access to credit for Mexican citizens. We are excited to integrate cloud-native Equifax data, analytics, and global solutions to help our customers grow.”
Juan Manuel Ruiz Palmieri, CEO of Círculo de Crédito
