Maghreb Private Equity Fund II

Equity : June 2006

The Maghreb Private Equity Fund II (MPEF II) will target Algeria, Morocco and Tunisia and will take equity stake in mid-sized companies that can become regional leaders.

Amount

€ 6,000,000.00

Type of investment

Equity

Development impacts

Local economic growth
Private sector consolidation/innovation

Beneficiary locations

Africa: Algeria, Morocco, Tunisia

Middle East:

Investment field

Investment Companies & Funds

Activity

SME Fund

Organisation

Maghreb Private Equity Fund II

Website

http://www.africinvest.com/

Domicile

Cyprus

The fund manager, Tuninvest Finance Group, intends to advise and accompany the companies in their regional development thanks to its wide experience and network in North Africa and Europe, and its track record of helping companies define and achieve their growth strategy.

Tuninvest sees interesting investment opportunities in (i) under-capitalized or under-managed enterprises well established in their local market and with clear expansion potential, (ii) enterprises seeking help with succession planning, (iii) foreign companies seeking to enter the region but lacking knowledge of the local market.

Development impacts

Local economic growth
This fund helps the development of an integrated regional business community in North Africa and fosters the economic integration of long-term political foes such as Algeria and Morocco.
Private sector consolidation/innovation
MPEF II aims to bring best business private practices in Algeria, a country still dominated by the public sector and with a scattered and often archaic private sector. Tuninvest is, in our view, one of the rare fund managers able to meet this challenge thanks to its unique regional experience (already active and well-reputed in Morocco, Algeria and Tunisia) and its excellent track record in bringing value-added to its investees.

Made possible through this investment

Thanks to the direct funding from BIO, the following second-line investments have been made possible.

CAP

Tunisia

The Compagnie Africaine de Peinture (CAP), specialized in the manufacturing and distribution of paint coatings in Tunisia, was created in 1978 and is owned by the Cherif Group. CAP is the market leader in Tunisia car refinish coatings.

General Emballage

Algeria

General Emballage is the market leader in corrugated cardboard packaging in Algeria with a market share of around 40%.

Snax

Algeria

Snax, a producer of salty snacks, is the unchallenged leader in the Algerian market with over 50% market share.

Inpha-Medis

Algeria

Inpha-Médis is an Algerian pharmaceutical company specialized in the manufacturing and marketing of generic drugs. Inpha-Médis produces syrups, antibiotic and non-antibiotic tablets and packages sterile forms.

S2M

Morocco

S2M is one of the leading players in developing and implementing payment solutions. The company offers the following services: software development, smart card solutions, implementation of software packages and personalization of payment means.

Icosnet

Algeria

Icosnet is an Internet Service Provider in Algeria.

Sicopa

Morocco

SICOPA is the abbreviation for Société Industrielle de Conserves d'Olives et de Produits Agricoles (SICOPA). Originally a family business, the company was founded in 1974 in Fez, Morocco. Today, it manages two production units for Moroccan fruit and vegetables, mainly olives and capers, and ensures their sorting, processing and packaging.

Manorbois

Morocco

Manorbois was established in Morocco in 1954. It is specialized in the import and the distribution of sawing wood and panel, and insulation materials. The company holds around 20% market share in Morocco.

THCC

Tunisia

THCC is a company created in late 2006 specialized in operating health centers. The first unit under construction is a treatment center with surgical facilities providing various medical care services around three key activities: (i) oncology, (ii) cardiology and (iii) general surgery and orthopedics.

Omniacom

Tunisia

Omniacom is a Tunisian company created in 1999. The company is specialized in the integration of Telecom solutions. Its flagship product is a wireless telephony solution offered to fixed operators.