DPI exits International Facilities Services
DPI has signed a binding agreement with a consortium comprising ES-KO, Phatisa, and IFS’s management.
Development Partners International (DPI) today announced the sale of International Facilities Services (IFS). DPI has signed a binding agreement with a consortium comprising of ES-KO, a global provider of integrated facility support services, Phatisa, a Mauritius based private equity firm, and IFS’s management, to sell 100% of its shares in the company.
Established in 2000, IFS is an African integrated facilities management business that supports blue-chip customers operating in remote sites. IFS specialises in facilities management services that encompass catering, camp management, laundry, cleaning and housekeeping, maintenance, waste management, and hygiene services. DPI made its investment in IFS from its African Development Partners II (ADP II) fund in 2019.
The company now services more than 40 remote sites across six African countries including Mozambique, DRC and Zambia, and employs nearly 4,000 people.
James Griffiths, partner at DPI said: “We are thrilled to announce our successful exit from our investment in IFS. Our partnership with Mr Webber and the senior leadership team at IFS exemplifies how institutional capital can support dynamic African businesses to navigate the inherent complexities of scaling in Africa while growing across borders. The success of IFS is a testament to our long-term partnership with management and we believe the business is now in the perfect position for its integration with an international strategic acquirer.”
Henlo Webber, CEO of IFS said: “DPI has been an excellent partner and hugely supportive of our ambition; its backing and management expertise have been instrumental in guiding our business through its expansion into new markets. We are excited for our next phase of growth and the opportunity to continue building on the strong foundations in place.”
This sale follows DPI’s exit from KELIX bio to Mubadala in March and represents DPI’s second major exit in 2024.
This transaction is subject to regulatory approvals.
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