AfricInvest exits to Vantage Capital
AfricInvest has announced its exit from Promamec, a Morocco-based producer and distributor of medical devices for the public and private sectors.
AfricInvest’s investment enabled Promamec to fuel its growth by launching new medical specialties; offering new products; acquiring additional market share in historically covered sectors; and exploring new markets, mainly in West Africa.
Mehdi Mahtat, partner at AfricInvest said, “It was a privilege to partner with Promamec for more than five years and witness the outstanding achievements of growth and product diversification, as well as the transformation that we have supported and accompanied with unwavering conviction, alongside the CEO Naoufal Lahlou and Lahlou Family. With this transaction, we celebrate not only financial success but also the positive impact of Promamec on the Moroccan health sector. I have no doubt that Promamec, together with their new partner Vantage Capital, will continue to thrive and remain a reference in the medical devices industry, both in Morocco and the wider region.”
Naoufal Lahlou, CEO of Promamec said, “As we are concluding this partnership with AfricInvest, it has been our utmost pleasure to collaborate together. We are grateful to our AfricInvest partners for supporting us to lift the company to a leading position in its market and look forward to continuing the journey with our new partners.”
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