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. LP commits $25m to Development Partners International's third fund
Dutch development financier FMO has approved a $25 million investment in the African Development Partners III (ADP III) fund, managed by private equity firm Development Partners International (DPI).
DPI's strategy is to build a diversified pan-African portfolio of private equity investments in established and growing companies benefiting from Africa's fast-growing, middle class.
ADP III is expected to invest $40 million to $120 million in eight to 14 different companies.
2. SPE Capital Partners and Proparco acquire healthcare player
SPE Capital Partners has announced the acquisition of Saham Pharma, an antibiotics manufacturer and hospital provider in Morocco, alongside Proparco as a minority investor. The acquisition constitutes the fourth transaction executed through SPE AIF I, a $200 million Africa-focused private equity fund closed in 2019. It is the second direct equity investment of Proparco within the healthcare sector of Morocco, following the investment in ODM group in 2018 (hospitals and diagnosis clinics).
Saham Pharma has developed strong expertise in manufacturing antibiotics products. In recent years, the company also significantly increased its market share in the growing Moroccan hospital sector and began exporting its products to other African countries.
3. Ata Capital receives green light to acquire industrial group
South Africa's Competition Commission has unconditionally approved the proposed merger whereby private equity firm Ata Capital, through its Ata Fund III, intends to acquire industrial group Jachris.
Jachris controls more than five entities, which include, amongst others, Jachris Mozambique, Jachris Ghana, Jachris Botswana and Fluid Power Pro. Through its subsidiaries, Jachris is involved in the supply of specialised hoses, fittings and couplings to the mining and industrial sectors.
Ata Capital, based in Johannesburg, South Africa is a cross-sectoral, alternative asset class fund manager. The firm was founded in 2012 by the CEO, Lelo Rantloane and the Harris Family Office.
4. GreenTec Capital Partners invests in Kenyan logistics company
GreenTec Capital Partners has announced an investment in Kenya’s Amitruck. The company is a mobile and web-based trucking logistics platform that brings together cargo owners and transporters.
By matching cargo owners with trucking logistics professionals through a digital competitive bidding process, Amitruck brings trust and transparency into the African logistics sector. Amitruck’s solution cuts out expensive middlemen whilst increasing security as all drivers and vehicles are vetted and goods in transit insured.
5. A.P. Moller Capital signs first deal in Kenya
A.P. Moller Capital has completed its first investment in Kenya with the acquisition of the Nairobi based thermal power plant Iberafrica. A.P. Moller Capital acquired the 52.5MW independent power producer (IPP) from Naturgy.
The acquisition of the entire issued share capital of Iberafrica, one of Kenya’s leading IPPs, is part of A.P. Moller Capital’s efforts to invest in infrastructure assets including power and energy in Africa. The acquisition provides A.P. Moller Capital with an effective platform to advance its investment commitments in Kenya. A.P. Moller Capital is planning to invest further in greenfield and brownfield power and energy infrastructure assets in Kenya.
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