Ascent Capital exits Uganda's Guardian Health

I&M Burbidge Capital has advised Ascent Capital Africa, the fund manager for the Ascent Rift Valley Fund (ARVF), in the fund’s exit from Guardian Health. The transaction was completed to MyDawa Holdings, Kenya’s first online retail pharmacy and beauty platform.

Guardian Health is the largest and fastest-growing pharmacy chain in Uganda. It started operations in January 2012 with the aim of providing cost-effective and affordable medicines and its portfolio also now includes beauty and personal care products. Guardian has an established cross-country presence in the major population centres of Uganda with a network of 17 branches.

ARVF invested in Guardian in 2017 and over that time, the company’s branch network has grown from five stores to 17 stores and now includes online retail operations as well as a growing wholesale operation.

I&M Burbidge Capital acted as the sole transaction advisor to Ascent with the team from I&M Burbidge Capital comprising Edward Burbidge and Kevin Kuria.

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