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. SPE Capital exits FMCG company
Following the approval of the competition board in Morocco, Dislog Group and SPE Capital Partners announced the exit of SPE AIF I from H&S Invest Holding. Following the transaction, the Belkhayat family and management together own 100% of H&S.
Dislog, which is chaired by Moncef Belkhayat, has achieved the transformation plan announced in June 2019 following the partnership with SPE Capital, with a successful entry into FMCG manufacturing and the restructuring of H&S into an operational holding company led by Ghislaine Benlamlih. H&S now controls 100% of Dislog Distribution, 89% of Dislog Industrie and 95% of Building Logistics (the group’s real estate company). The three divisions are independently managed and led by three general managers, Mehdi Bouamrani, Ali Tazi and Ghislaine Benlamlih, respectively.
2. Côte d’Ivoire: Adiwale Fund I in air conditioning deal
Adiwale Fund I has announced the acquisition of a minority stake in Maintenance Climatisation Technique (MCT). The 60-year old company is the Ivorian leader in the installation and maintenance of innovative industrial, commercial and residential air conditioning solutions. It also offers electrical engineering services.
MCT operates in eleven countries in French-speaking sub-Saharan Africa, and is a local partner for Carrier, the world leader in air conditioning services.
3. Harith General Partners part of consortium to relaunch South African Airways
Following the announcement by the minister of public enterprises, Pravin Gordhan, the Takatso Consortium has expressed its delight and commitment in being selected as the preferred strategic equity partner (SEP) for South African Airways (SAA).
The consortium comprises Harith General Partners, an investor in African infrastructure, and aviation group Global Aviation. The partnership between the consortium and the SA Government aims to build an iconic national brand and a sustainable, world-class pan African airline.
The Takatso Consortium will own 51% of the airline and the Department of Public Enterprises 49%. The intention is to list the airline in the future as one way of addressing future funding requirements and to enable all South Africans to take part in its success.
4. South Africa: 1K1V and Crossfin in carve-out deal
One Thousand & One Voices (1K1V), a private equity fund, the limited partners of which are comprised exclusively of industry-leading families, in partnership with diversified fintech investment holding company Crossfin Technology Holdings and investor Isaac Mophatlane, announced the acquisition of the Sybrin Group of Companies for R410 million ($30.2 million).
Incident to the transaction, Sybrin will be carved-out from publicly-traded EOH, one of Africa’s largest technology service providers. Sybrin is a software solution provider helping predominantly financial services providers digitally transform and automate their business processes. The company also integrates its software solutions into the core banking systems of middle market and large banks, with current clients including Citibank, Nedbank and Old Mutual. Sybrin has a footprint across 17 countries in Africa, the Middle East, the United Kingdom and Eastern Europe.
5. European DFI commits $15m to mezzanine fund manager
Dutch development financier FMO has invested $15 million in the BluePeak Private Capital Fund, which will provide growth capital to small and medium companies in North, West and East Africa and up to 20% in the Levant.
BluePeak targets to raise $200 million in commitments and will be managed by BluePeak Private Capital which is a newly established fund manager with a head office in Tunisia. The business is owned by a team that has worked together for many years managing similar funds. This is a new relationship for FMO.
BluePeak is a specialist mezzanine fund manager, providing a blend between debt and equity financing.
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