by: Andrea Spinelli Barrile | March 22, 2024
Adenia Partners, a Mauritius-based private equity firm, announced last week that it has entered into a deal with industrial gases specialist Air Liquide to acquire twelve of its subsidiaries in West and Central Africa. Agence Ecofin reports it.
This operation is the prelude to the formation of an independent group in the industrial gases sector. The branches involved are in the markets of Benin, Burkina Faso, Cameroon, Congo, Ivory Coast, Gabon, Ghana, Madagascar, Mali, Democratic Republic of Congo, Senegal and Togo. According to a press release issued by Air Liquide, the sold assets represent a turnover of approximately 60 million euros, which corresponds to less than 10% of the French group’s total sales in Africa.
Adenia Partners, which manages assets of over $800 million across more than 30 investments, promises to support the growth of this new sector of its portfolio with long-term investments of up to €30 million. This operation is part of a context of growth in industrial activities in Africa, with a growing demand for essential gases such as oxygen and nitrogen, which are used in various fields, from healthcare to industrial processing.
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