CDG Invest Growth (CIG), the private equity fund manager previously known as CDG Capital Private Equity, and Techniques Science-Santé (T2S) announce the finalization of the sale of the latter to a majority-owned holding company managed by Helios Investment Partners.
The investment in T2S was made in June 2016 through the Capmezzanine II fund.
Founded in 1992 by Mr. Abderraouf Sordo and his four partners, T2S has become, in less than three decades, the undisputed leader in the distribution and maintenance of medical equipment in Morocco and then in Francophone Africa, with revenues of around $75m in 2020. T2S has always had the mission of supporting health players in the realization of their projects, from the installation of high-tech medical equipment to training for advanced clinical applications, including maintenance of said equipment.
T2S' success is the result of long-term relationships with leading medical equipment manufacturers, as well as the trust it enjoys with its customers. With a very large portfolio of suppliers, including General Electric since 1992, T2S offers complete solutions in radiology, oncology, ophthalmology, ICU, operating theatres and sterilization, and can thus respond to more than 70% of the equipment needs of aa hospital. Finally, T2S has always placed particular emphasis on after-sales service and maintenance, which has enabled it to have the largest installed base in Morocco.
The Company also has a subsidiary, called Cyclopharma, which is a pharmaceutical laboratory specializing in the production and distribution of contrast products for imaging and nuclear medicine.
To accelerate its development in Africa, T2S created, in 2021, another subsidiary called T2S Africa based in Abidjan. The objective is to capitalize on the achievements of the Company in sub-Saharan Africa (Mauritania, Côte d'Ivoire, Mali, Guinea and Burkina Faso) and seize the many opportunities presented by the region to replicate the success of T2S in Africa from the west.
Abderraouf Sordo, Founder and CEO of T2S, said: “We are very proud to have taken this new step in the history of T2S, which is a consecration for the work of its women and men, including commitment and constant effort over 30 years has enabled us to gain the trust of our customers. This transaction, which has just been finalized, is also the moment for us to celebrate the exceptional achievements and the transformation of our Company since we opened our capital to a private equity fund in 2016. We had the chance to choose the best partner and we wouldn't be where we are today without their support and added value over the past five years”.
Brahim Guessous, Partner at CDG Invest Growth, added: “We were honoured to participate in this exciting adventure with T2S which has been a great success in the healthcare sector. We are delighted to have achieved a very nice exit for our investors, but also to have succeeded in our mission to transform a Moroccan SME into a regional champion, leader of its sector of activity and which is now part of a project. Pan-African. Our investment in T2S came after the promulgation of Law 131-13 in 2015, which allowed a significant injection of capital and the realization of many structuring projects in the health sector. T2S played a crucial role in this phase by supporting the main players in the sector to modernize and upgrade the national health infrastructure."
About CDG Invest Growth (ex-CDG Capital Private Equity)
CDG Invest Growth is a fund management company making development capital investments in Moroccan and African companies with high potential. Previously known as CDG Capital Private Equity, the company manages a family of funds under the name Capmezzanine. CIG's offices are located in Casablanca and the firm manages nearly 1,800 MDH raised from a variety of Moroccan and international institutional investors. CIG is currently investing its last Capmezzanine III fund, an OPCC fund of 944 MDH raised in May 2021, and intends to deploy tickets between AED50-150mn per transaction. CIG is a fund manager regulated by the Moroccan Capital Market Authority (AMMC).
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