Amethis buys majority stake in Côte d’Ivoire’s Ademat
Transaction marks SPE Capital’s exit.
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Amethis has acquired a majority stake in Ademat, a Côte d’Ivoire-based provider of power security solutions, buying out SPE Capital’s controlling position.
Founded in 1983, Ademat covers the entire value chain of power security solutions – from power generation, stabilisation and transformation, to procurement, installation, maintenance, technical assistance, consulting, training and rentals.
Over the course of SPE Capital’s investment, which began in April 2021, Ademat launched its proprietary brand and broadened its product offering with gas-powered generators and solar panels. The company also enhanced its operational infrastructure through ERP modernisation and the digitalisation of commercial processes.
As Ademat’s new majority shareholder, Amethis will partner with Christophe Giovacchini, CEO of Ademat, and the management team to support the company’s next growth phase.
Stéphane Heuzé, managing partner at SPE Capital, commented: “We are proud of the journey undertaken alongside Ademat over the past five years. Together, we repositioned the company, launched new business lines, and built a stronger, more resilient platform, well-positioned to capture growth opportunities in West Africa. This transaction is a testament to the value creation that is possible through a hands-on, majority ownership approach. We wish Christophe, the entire Ademat team and Amethis great success in this new chapter.”
Khady Koné-Dicoh, senior partner at Amethis, said: “We are delighted to partner with Christophe and the Ademat’s team. We see significant opportunities to further scale-up the company. By leveraging on our strong local presence and extensive international network, we are confident in our ability to support Ademat transition towards low-carbon energy solutions and strengthen its market position in Côte d’Ivoire and across West and Central Africa while enhancing energy resilience in the region. We would also like to thank SPE Capital for their contribution to the company’s development to date.”
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