AIIM, Adenia and IFC invests US$130m in Eastcastle Infrastructure, acquires majority stake

AFRICA – Infrastructure-focused private equity fund managers, The African Infrastructure Investment Managers (AIIM), Adenia Partners (Adenia), a private equity firm investing in Africa, and IFC, a member of the World Bank Group, have partnered to invest a total of US$130 million to support Eastcastle Infrastructure (Eastcastle), a company specializing in Africa’s telecoms tower sector. The funding will support Eastcastle’s build-to-suit strategy, to develop new telecom towers initially in the Democratic Republic of Congo, Nigeria and Côte d’Ivoire. The number of towers across the region needs to increase significantly to accelerate the deployment of bandwidth…

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PE firm Adenia acquires leading electrical and solar equipment distributor Herholdt’s

SOUTH AFRICA – Adenia Partners, a private equity firm investing in Africa, has acquired a majority stake in Herholdt’s, a leading distributor of low-voltage electrical products and solar products in South Africa. Financial terms of the transaction were not disclosed. Established in 1964, Herholdt’s operates in Bloemfontein, Kimberley and George, and has recently opened branches in Johannesburg and Cape Town.  Herholdt’s supplies a broad product portfolio of 10,000+ items to professionals such as installers, contractors and resellers as well as end-users. Herholdt’s originally focused on the sale of electrical equipment…

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PE firm Adenia acquires life sciences distributor Africa Biosystems

KENYA – Adenia Partners, a private equity firm investing in Africa, has announced it has completed the acquisition of Africa Biosystems Limited (ABL), a leading distributor of life sciences and clinical diagnostics equipment in East Africa. Financial terms of the deal were not disclosed.  Established in 1999, ABL is headquartered in Kenya with subsidiary offices in Uganda and Tanzania. The Company’s instruments are used to conduct research and diagnosis across the animal, human and crop sectors with product applications that span molecular, cell and protein biology and DNA forensics. ABL’s…

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Private market investor Adenia sells its equity stake in Ademat to SPE Capital

AFRICA – Adenia, a private markets investment firm in Africa, has finalized the sale of its 100% equity stake in Ademat to SPE Capital, a private equity firm focused on Africa and the Middle East. Founded in Abidjan in 1983, Ademat is the leading provider of power security solutions in Côte d’Ivoire that provides a wide range of technical solutions for companies in various industries, including telecommunications, financial services, manufacturing, healthcare and hospitality. Since acquiring Ademat in September 2016 through its Adenia Capital (III) fund, Adenia has implemented a series…

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Stephane Bacquaert joins Adenia Partners as a Managing Director

AFRICA – Adenia Partners, is a private equity firm investing in Africa announced that Stephane Bacquaert has joined the team as Managing Director and member of the Board. He will be primarily focused on leading Adenia private equity activities in West Africa. Stephane joins from Wendel where he was Managing Director and CEO of Wendel Africa for the last 15 years. At Wendel, Stephane led the IPO of Bureau Veritas where he has been a Board member for more than 10 years. He led the investment strategy of Wendel in…

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