A world leader in industrial and medical gases, Air Liquide, and Adenia Partners, a private markets investment group, have reached an agreement for the purchase of 12 of Air Liquide’s subsidiaries located in West and Central Africa as well as the Indian Ocean.
Christophe Scalbert, Partner at Adenia, confirmed the acquisition in a press release on Thursday.
Launched in 2002, Adenia Partners bills itself as a private capital management company that makes investments in some of the most exciting companies in Africa with headquarters in Port Louis Town, Port Louis, Mauritius.
According to the release, the agreement calls for the formation of a new, independent pan-African industrial gases group made up of the entities and workers in Benin, Burkina Faso, Cameroon, Congo, Ivory Coast, Gabon, Ghana, Madagascar, Mali, Democratic Republic of the Congo, Senegal, and Togo.
Adenia claims it plans to support this group over the long term and make additional investments of up to 30 million euros.
Christophe Scalbert, Partner at Adenia, commented: “With a presence in 12 countries, sales approaching 60 million euros, and unique expertise and teams, we see the emergence of a continental leader that will benefit from strong infrastructure development, increasing industrial activities and natural resources industries on the African continent.
“Adenia intends to accelerate the growth of this new group by investing heavily in production and storage capacity to better serve its customers.”
Furthermore, Air Liquide and Adenia have signed a long-term agreement for the delivery of various industrial and speciality gases as part of the deal.
These supplies will supplement future investments, as will Air Liquide’s aid with the changeover, particularly through a technical assistance contract.
Together with co-investors DEG, Proparco, and South Suez, Adenia Partners recently purchased 100% of The Courier Guy, a pioneer in last-mile delivery and express parcel (CEP) services in South Africa.
Adenia’s fifth flagship fund, Adenia V, has made its second investment through Adenia Capital (V) LP.
