2 weeks ago
28
May 21, 2026
In this episode of the Tech M&A Podcast, we chat with
Heriberto Garcia, founder and former CEO of Vialterna
Comunicaciones, a leading modern telecommunications firm serving
all of Mexico. Over 15 years, Heriberto built Vialterna into a
powerhouse of connectivity before navigating a successful exit to a
search fund — a buyer type he initially never expected to
consider.
Heriberto shares how a Corum seminar he attended three decades ago
planted the seed for his eventual exit, and how that knowledge
stayed with him until the timing was right. He offers candid advice
on the importance of pre-deal preparation, the often-overlooked
complexity of tax due diligence, and why authenticity and
transparency with buyers can be your greatest asset. He also
reflects on the realities of post-exit life — including the
multi-year transition that follows a deal and the importance of
learning to manage newfound wealth.
Takeaways
- Plant the seed early: A seminar attended 30 years prior shaped Heriberto's entire approach to eventually selling — long-term mindset matters.
- Run a pre-due diligence on yourself: Conducting your own internal DD before going to market surfaces surprises early and dramatically smooths the formal process.
- Don't underestimate tax: Tax due diligence should be addressed from the very beginning of the process, not left to the end.
- Be open to unexpected buyers: A search fund — initially rejected outright — turned out to be the perfect match, proving that criteria should remain flexible.
- Authenticity wins deals: Transparency and
openness with potential buyers builds trust and accelerates the
process.
Keep the sale confidential: Avoid telling staff or partners until necessary — unexpected reactions can complicate operations mid-deal. - Expect a long transition: Post-exit life involves a multi-year handover, not an overnight handoff.
Timestamps
00:00 – Introduction: Heriberto Garcia and Vialterna
Comunicaciones
01:00 – 15 years building a telecom powerhouse across Mexico
02:00 – How a Corum seminar 30 years ago set the foundation for
this exit
03:00 – The motivation to sell: retirement planning and the right
timing
04:00 – Surprises in the market: rejecting investment funds — then
finding the perfect search fund
05:30 – Due diligence surprises and the lesson of working
capital
06:30 – External advisors: legal, financial, and tax support during
the deal
07:30 – What Heriberto wishes he'd known: pre-DD, taxes, and
behaving like a big company
08:30 – How the right buyer was chosen — and why transparency
sealed it
09:30 – Advice for CEOs in Latin America: valuations, firm
decisions, and authenticity
10:30 – Post-exit life: transitions, wealth management, and what
comes next