In March 2012, Andina Acquisition Corporation (Andina I) raised USD $42million from the sale of 4.2 million units and signed a definitive agreement to merge with Tecnoglass, Inc. (Nasdaq: TGLS) in August 2013. The business combination was valued at approximately USD $313 million on a pro forma fully diluted basis (9.0x 2013E Adjusted EBITDA).

Tecnoglass Inc. is a leading manufacturer of architectural glass, windows, and associated aluminum products for the global construction industries. Headquartered in Barranquilla, Colombia, the company operates out of a 2.7 million square foot vertically‐integrated, state‐of‐the‐art manufacturing complex that provides easy access to North, Central and South America, the Caribbean, and the Pacific.Tecnoglass is the second largest glass fabricator serving the United States, with the United States accounting for 80% of revenues.