Morocco: IFC proposes investment in logistics company
Morocco: IFC proposes investment in logistics company
The IFC has disclosed a proposed equity investment of up to $36 million in Buildings & Logistic Services.
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The IFC has disclosed a proposed equity investment of up to $36 million in Buildings & Logistic Services (BLS).
BLS is a logistics service provider in Morocco and a subsidiary of H&S Invest Holding, a diversified family-owned holding company operating in the FMCG, logistics, pharmaceuticals, media and communication, and real estate sectors.
The company has ambitious growth plans to become a leading third-party logistics services provider in the country. IFC’s proposed investment will be used to finance BLS growth investments consisting of (i) bolt-on acquisitions of identified logistics service providers, warehouse facilities and other facilities for the group in Morocco, and (ii) a capex plan to expand BLS’ existing warehouse facilities and construct greenfield warehouse facilities and logistics platforms in various large cities of the country.
BLS is majority owned (79.7%) by H&S Invest Holding (H&S), a diversified family-owned holding company founded in 2005 by Moncef Belkhayat. STOA, an impact investment fund created in 2017 by Caisse des Dépôts and the Agence Française de Développement invested in BLS in 2023 and currently owns a minority stake (20.3%) in the company.
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