Adenia Partners exits Cresta Paints to Uhuru Investment Partners
Adenia Partners exits Cresta Paints to Uhuru Investment Partners
Cresta Paints, headquartered in Ghana, is a leading player in the automotive refinish and protective coatings sector.
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Adenia Partners has exited its entire stake in Cresta Paints to Uhuru Investment Partners, a middle-market private equity firm focused on investing in West Africa. Cresta Paints, headquartered in Ghana, is a leading player in the automotive refinish and protective coatings sector.
Founded in 2002, Cresta Paints has developed a comprehensive product range that includes paints, clear coats, hardeners, thinners, and more. The company has established a leading market presence in Ghana, Nigeria and key francophone West African markets including Côte d’Ivoire, Benin, and Togo.
Adenia invested in Cresta Paints in 2015 and has since helped the company consolidate its position as the regional leader in the automotive refinish industry, exporting its flagship brand SuperShine to 10 countries across West Africa.
Charles Boatin, a partner at Adenia Partners, said: “Our collaboration with Cresta Paints exemplifies Adenia’s commitment to fostering sustainable business practices and governance that pave the way for continued growth and market leadership. We look forward to following the company’s future success under its new owners.”
Nana Adow Dankwa, a partner at Uhuru Investment Partners, commented on the acquisition: "We are excited about the future of Cresta Paints and look forward to working closely with the management team to expand the company’s footprint, enrich its product portfolio and enhance customer satisfaction."
Adenia Partners was advised by Natrium (financial and transaction advisors), EY (financial advisor), Stafford Law and Bowmans Mauritius (legal).
Uhuru was advised by PwC (financial and tax advisor), DLA Piper Mauritius / Juristconsult Chambers and Kimathi & Company (legal).
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