Morocco: IMG Capital takes minority stake in Avis Locafinance Group
Founded in 1961, Avis Locafinance Group has evolved from a car rental operator into an integrated mobility platform.
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IMG Capital, through its fund IMG Fund I, has announced a minority investment in Morocco’s Avis Locafinance Group.
Founded in 1961, Avis Locafinance Group has evolved from a car rental operator into an integrated mobility platform, combining short-term rental services under the Avis brand, long-term full-service leasing for corporates through the Locafinance brand, and vehicle maintenance and repair services via Fleet Services Management. The group is also involved in the electric two-wheel mobility segment for corporates.
The group operates a network of over 20 branches across the Morocco, and manages a fleet of more than 5,000 vehicles.
Eddy-Richard Toledano, chairman and chief executive officer of Avis Locafinance, said: “We are delighted to welcome IMG Capital as a shareholder to support a new stage of development for our family-owned business. This partnership reflects a shared commitment to strengthening our organisation, accelerating our growth, and continuing to provide our clients and partners with reliable, integrated mobility solutions tailored to their needs.”
Brahim Guessous, managing partner and founder of IMG Capital, commented: “This transaction reflects our ambition to partner with high-potential businesses at key stages of their development. Alongside the shareholders and management team, we intend to contribute to strengthening the Avis Locafinance Group, supporting its growth, and consolidating its position as a reference integrated mobility player in Morocco.”
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