MOROCCO – Vantage Capital, Africa’s largest mezzanine fund manager, has announced that it has provided about US$8.93 million (€8.0 million) of mezzanine funding to Equity Invest S.A.
Luc Albinski, Managing Partner at Vantage Capital, noted that “Vantage is proud to have concluded its first investment in Morocco.”
He added that, “Vantage’s mezzanine product has once again proved its value by supporting an entrepreneur to reacquire a controlling stake in one of his businesses whilst at the same time facilitating an attractive exit for the private equity investor.”
Equity Invest S.A is the holding company for six Moroccan technology companies operating in the following complementary market sectors: Electronic security solutions, Audio-visual multimedia systems, Photovoltaic solutions for companies, and, E-health information systems.
Vantage’s funding has enabled the founder, Mr. Ali Bettahi, to secure a controlling equity stake in one of Equity Invest’s flagship subsidiaries by facilitating the buy-back of equity from an existing private equity investor, PME Croissance.
“Vantage has adopted a pragmatic, solutions-based approach to working with us and we appreciate their diligence, efficiency and professionalism,” revealed Ali Bettahi, Founder of Equity Invest,
“We welcome Vantage as our newest funding partner and look forward to building a mutually beneficial relationship over the years to come,” Bettahi added.
Vantage said that it will support Equity Invest’s organic and acquisitive growth plans in the medium-term.
Equity Invest plans to reinforce its position in the Moroccan market by adding more technology companies to its portfolio and developing new markets in the rest of Africa, the statement said.
This transaction represents Vantage Capital’s 28th mezzanine transaction across three generations of mezzanine funds with its portfolio of mezzanine investments now spread across ten countries in Africa.
Vantage has now invested in eleven transactions across Morocco, Côte d’Ivoire, Ghana, Nigeria, Uganda, Kenya, Mauritius, Namibia and Botswana.
Equity Invest is Vantage’s first investment in Morocco and second in Francophone Africa.