Adenia Partners, a private equity fund manager focused on growth opportunities and mid-cap buyouts in Sub-Saharan Africa, announced a majority investment in Ademat, a leading business service company in Côte d’Ivoire active in the power sector. This transaction is the final transaction of Adenia Capital (III), a EUR96mn fund closed in February 2012.
Founded in Abidjan in 1983, Ademat distributes, installs and maintains power devices, inverters, drive systems, and other electrical and IT products in Côte d’Ivoire. Thanks to its technical skills and expertise, the company has become the leader in Côte d’Ivoire, leveraging a number of strategic partnerships including with the SDMO-Kohler group, one of the global leaders in the manufacture of generator sets and the market leader in Francophone Africa. Through its range of products, advisory and maintenance capacities, Ademat ensures reliable electricity solutions for its clients who are active in a variety of sectors, including agro-processing, telecommunications, financial services and real estate, and have demanding energy requirements.
Adenia Partners aims to bring the company to the next level, through the pursuit of growth opportunities linked to diversification of the product offering, new partnerships, international expansion, and through the implementation of best practices. In particular, Adenia will support the management team by providing strategic and financial advice, and assistance in environmental, social, and governance process improvement. Adenia will also leverage its network to source new opportunities to further develop the business.
Mr. Christophe Scalbert, Principal at Adenia Partners based in Abidjan, said, “Ademat’s track record is clearly established in the market with a strong reputation locally. We look forward to work with the management team and continue to build on its strengths.”
About Adenia Partners
Founded in 2002, Adenia Partners is a private equity management firm investing in some of Africa’s most promising businesses. Through three funds vehicles, Adenia manages US$200mn of assets. Adenia’s investment team is composed of experienced private equity professionals with a broad set of skills in strategic consulting, M&A, and company management. The team is based in Africa, with offices in Abidjan, Accra, Antananarivo and Port Louis.
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