25-11-2022. Malta. Mediterrania Capital Partners, a Private Equity firm focused on growth investments for SMEs and mid-cap companies in North Africa and Sub-Saharan countries, is proud to announce that AMMC, the Moroccan Capital Market Authority, has approved Akdital’s IPO in December 2022 — marking Mediterrania’s sixth portfolio company exit in 12 months.
Talking about the six exits, Albert Alsina, Founder and CEO of Mediterrania Capital Partners, said: “Despite extremely challenging economic and political times in the world, our portfolio companies in Africa have continued to perform above the rest of the players in their sectors. The six exits in the last 12 months are the result of focused work, relentless effort and, above all, great partnerships. Our focus remains on driving liquidity events with good returns, ensuring that Mediterrania Capital Partners continues to outperform the market.”
While Mediterrania’s objective is to create value and deliver attractive financial returns, over the years the PE firm has maintained a responsible investment mentality and worked with its portfolio companies to have a direct and positive impact on societies, economies and the environment.
Mediterrania’s exits in the last 12 months:
TGCC -> IPO
In December 2021, Mediterrania announced its partial exit of TGCC, the national leader in the construction industry in Morocco, through an IPO in the Casablanca Stock Exchange (CSE). With a one-week subscription period, the IPO was significantly oversubscribed and enabled the largest-ever exit in the CSE of a PE-back company.
Groupe Cofina -> Secondary sale
Four years after Mediterrania invested in Groupe Cofina, the leading mesofinance and transactional financial services institution in West and Central Africa, it sold its stake to a Private Equity group based in London in May 2022. During Mediterrania’s tenure, Cofina implemented a growth strategy focused on developing financing solutions to support SMEs in their development. The group also launched mobile and web-based banking applications enabling customers to perform financial transactions from their mobile phones, tablets and computers.
MedTech -> MBO
In July 2022, Mediterrania sold its stake in MedTech, Morocco’s leading IT and telecom services integrator. Under Mediterrania’s tenure, MedTech achieved significant social improvements, including 50% employment growth and increased female employment amounting to over a third of the group’s total workforce. Mediterrania’s exit from MedTech was executed through an MBO led by the management team.
Groupe Scolaire René Descartes -> MBO
In November 2022, Mediterrania exited Groupe Scolaire René Descartes (GSRD), the leading international education programme provider in Tunisia, through an MBO led by GSRD’s management. “Thanks to Mediterrania, we quickly moved from a family entity to a large-scale education group, becoming the market leader in Tunisia,” said Mrs Dhouha Sellaoui, Founder of Groupe Scolaire René Descartes.
Indigo Company -> MBO + Secondary sale
In November 2022, Mediterrania sold its stake in Cap Retail, Indigo’s subsidiary in Morocco, through an MBO led by Cap Retail’s management and backed by Valoris Capital, a Moroccan Private Equity firm.
Akdital Group -> IPO
Akdital Group, the largest private clinics group in Morocco, is launching an IPO at the Casablanca Stock Exchange in mid-December 2022 enabling Mediterrania’s partial exit from the company. The capital increase will support Akdital’s geographical and medical services expansion, maintaining the fast pace set during Mediterrania’s 2 1/2-year tenure.
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About Mediterrania Capital Partners
Founded in 2013, Mediterrania Capital Partners is a Private Equity firm focusing on growth investments in SMEs and mid-cap companies in Africa. The firm invests in consolidated and growing companies with an annual turnover of €20 million to €300 million and expansion strategies into North and Sub-Saharan African markets.
Headquartered in Valletta and with offices in Abidjan, Barcelona, Cairo, Casablanca and Mauritius, the company takes a proactive, hands-on approach to implementing the growth strategy of its portfolio companies by driving their Value Creation and ESG processes.
Mediterrania Capital Partners is a regulated financial investment manager licensed by the Malta Financial Services Authority (MFSA), the Financial Services Commission (FSC) in Mauritius and the Comisión Nacional del Mercado de Valores (CNMV) in Spain.