AfricInvest purchases minority stake in Salvador Caetano Auto Africa

30 Nov 2015

AfricInvest, a pan-African mid-cap-focused private equity firm, is pleased to announce that its AfricInvest Fund III (“AFIII”) has completed the purchase of a minority stake in Salvador Caetano Auto Africa (“SC Africa”), a subsidiary of Salvador Caetano Group, a Portuguese auto retailer with established operations in Africa since 1990. SC Africa’s activities are focused on auto distribution and retail in markets with significant growth potential.

Through its investment, AfricInvest is taking advantage of an opportunity to help consolidate SC Africa’s position in current markets and brands as well as to capture a higher share of the significant growth expected in the auto retail sector across African markets. AfricInvest will also look to use its deep ties with African financial institutions to explore opportunities to provide auto financing and leasing opportunities for SC Africa’s customers.

Commenting on the transition, Hakim Khelifa, Senior Partner at AfricInvest said, “AfricInvest is excited to be partnering with one of the leading European auto groups with nearly 70 years of experience in the automotive sector, including more than 20 years of experience in Africa, as it establishes even stronger market positions across the continent.”

According to Miguel Ramos, CEO of Salvador Caetano Group, “This partnership will not only allow SC Africa to leverage its investment and footprint in Africa, but will also take advantage of Africinvest’s long experience and knowledge of the African markets. We really believe in the commitment and added value that Africinvest will bring to our business.”

For more information, please see here.

 

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