The 5 most popular stories on Africa Private Equity News this week

Here are summaries of the five most widely read stories this week on Africa Private Equity News.

1. South Africa: Sanlam Private Equity invests in Danny’s Auto

Sanlam Private Equity (SPE) has acquired a majority stake in Danny’s Auto Body Parts, a provider of a wide range of aftermarket automotive parts and accessories for various vehicle types and models in South Africa and other sub-Saharan countries.

SPE made the acquisition through its private equity fund, SPE Mid-Market Fund I.

2. Rwanda: Goodwell invests in SOUK Farms

Goodwell Investments has announced an investment in SOUK Farms, a grower and exporter of fresh horticultural produce from Rwanda.

Goodwell provided funding through uMunthu II, the impact investor’s €150 million fund focused on scalable, early-growth stage businesses in Africa.

3. AIIM expands logistics platform with new acquisition

Commercial Cold Holdings (CCH), a cold chain logistics platform controlled by funds managed by African Infrastructure Investment Managers (AIIM), has closed a deal to acquire 100% of Sequence Logistics.

Sequence Logistics is a temperature-controlled warehousing, distribution and supply chain solutions provider across Southern Africa. The acquisition will be funded by increased equity commitments to CCH by the AIIM-managed funds: AIIF4 and IDEAS Managed Fund.

4. Meridiam finalises acquisition of Tanzanian renewable energy company

Meridiam announced the completion of its acquisition of Rift Valley Energy Tanzania (RVE), a renewable energy infrastructure platform. The company owns a portfolio of 30MW of renewable energy generation assets in operation, construction and development stages. In parallel, Rift Valley Energy has developed two rural distribution networks, 460 km long, in southern Tanzania serving a population of more than 75,000 living in 38 villages.

RVE was previously held by Rift Valley Corporation, one of the leading agricultural investors in South-Eastern Africa.

5. Nigeria: QED Investors and Ventures Platform lead $12m healthtech funding round

Remedial Health, a healthtech startup that develops solutions to make Africa’s pharmaceutical value chain more efficient, has secured $12 million in an equity and debt funding round to deepen the penetration of its offering in Nigeria and support the delivery of targeted financial services to drive business growth across the country’s pharmaceutical sector.

The $8 million Series A equity funding round was led by US-based venture capital firm, QED Investors and co-led by Ventures Platform, which have now invested in Remedial Health at every funding round since the pre-seed stage. Y Combinator, Tencent and Gaingels also invested after participating in previous rounds. The $4 million debt funding was led by a consortium of local and international financial institutions.

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