Mediterrania Capital Partners reaches €286 million final closing for MC III, its third fund for Africa

21-04-2020. Malta. Mediterrania Capital Partners, the Private Equity firm focused on growth investments for SMEs and mid-cap companies in North and Sub-Saharan Africa, announces it has reached a €286 million final closing for its third fund for Africa, Mediterrania Capital III (MC III).

MC III is an eight-year fund that targets small and medium-sized enterprises in North African countries including Algeria, Egypt, Morocco and Tunisia, as well as West and Central African countries including Senegal, the Ivory Coast and Cameroon. Looking to take substantial minority or majority stakes, the fund is investing in companies that are well-established in their local markets and have the potential to scale up their activities at the regional level and across the African continent.

To date, 60% of the fund has already been invested in five portfolio companies:
• TGCC – Leader in the construction industry in Morocco with operations in Senegal and the Ivory Coast
• Cofina – Leading meso-finance institution in West and Central Africa operating in Ivory Coast, Senegal, Guinea Conakry, Gabon, Mali, Congo Brazzaville and Burkina Faso through a network of 90 agencies
• Cairo Scan – The leading private provider of radiological and clinical laboratory services in Egypt
• Aziza – One of the leading food retail operators in Tunisia with 280+ stores across the country covering 83,000 sq.m of sales area
• Akdital Holding – The largest private clinic in Morocco with five clinics in greater Casablanca and a capacity of 550 beds

Albert Alsina, CEO and Founder of Mediterrania Capital Partners, said: “We are extremely thankful for the continued support of our LPs. At a time when the spread of COVID-19 pandemic is causing an unprecedented threat to people and economies around the world, MC III brings additional financial help at a crucial moment for African SMEs. Through our local teams in Casablanca, Algiers, Cairo and Abidjan, we will continue to search for the best investment opportunities and work closely with our existing portfolio, guiding the implementation of the operational and social measures needed to overcome this difficult phase, and ultimately building resilient companies with the required foundations for long-term growth.”

In 2019 Mediterrania Capital Partners was granted an AIFM (Alternative Investment Fund Manager) Licence under the Directive 2011/61/EU by the MFSA (Malta Financial Services Authority). This licence requires fund managers to comply with a stringent regulatory and supervisory framework that includes strong governance processes.

Saâd Bendidi, Mediterrania Capital’s Chairman and Partner, added: “Thanks to the granting of the AIFM Licence, we have been able to welcome new investors to Mediterrania Capital III and close our third fund above expectations.”

Established in Malta in 2013, Mediterrania Capital Partners has always advocated clear and strong governance in all its Group Companies, funds and portfolio companies. Since it began operations, the Private Equity firm has conducted its business and investments under strict governing processes that provide both a long-term foundation and financial transparency and best practice governance across all related Mediterrania Capital companies.

About Mediterrania Capital Partners
Mediterrania Capital Partners is a dedicated Private Equity firm focusing on growth investments in SMEs and mid-cap companies in Africa. With offices in Abidjan, Algiers, Barcelona, Cairo, Casablanca and Valletta, Mediterrania Capital Partners takes a proactive, hands-on approach to implementing the growth strategy of its portfolio companies by driving the Value Creation and ESG processes.

Mediterrania Capital Partners invests in African SMEs with an annual turnover of €20 million to €300 million and expansion strategies into North and Sub-Saharan African markets.

The group companies and portfolio companies of Mediterrania Capital Partners deliver over €1.5 billion in annual revenues and employ more than 20,000 people in Africa.

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.

 

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