M&A Deal Summary

Verod Capital Management and Africinvest Acquire Ison Xperiences

On October 16, 2023, private equity firm Verod Capital Management and growth capital firm Africinvest acquired business services company Ison Xperiences from Africinvest and Gulf Capital

Acquisition Highlights
  • This is Verod Capital Management’s 1st and Africinvest’s 5th transaction in the Business Services sector.
  • This is Verod Capital Management’s 1st and Africinvest’s 6th transaction in Kenya.

M&A Deal Summary

Date 2023-10-16
Target Ison Xperiences
Sector Business Services
Buyer(s) Verod Capital Management
Africinvest
Sellers(s) Africinvest
Gulf Capital
Deal Type Secondary Buyout

Target

Ison Xperiences

Nairobi, Kenya
website
iSON Xperiences provides a flexible enablement platform for businesses that need help scaling up their workforce, daily business operations, or debt collection solutions, or that want to expand their footprint in Africa. The company's expertise spans telecoms, BFSi, energy, media, government, retail, aviation, and e-commerce, partnering with brands and startups. Ison Xperiences is based in Nairobi, Kenya.

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Buyer(S) 2

DESCRIPTION

Verod Capital Management is a Nigerian private investment group focused on provding equity and equity-linked capital to growth companies. Areas of interest include consumer products, services, manufacturing, agribusiness, financial services, energy, media, and technology. Verod Capital Management was formed in 2008 and is based in Lagos.


DEAL STATS #
Overall 8 of 9
Sector (Business Services) 1 of 1
Type (Secondary Buyout) 1 of 1
Country (Kenya) 1 of 1
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-30 Medplus

Lagos, Nigeria

Medplus is a Nigerian retail pharmaceutical business. Medplus has a robust portfolio of drugs, and non-drugs comprising beauty and consumer products. As part of its holistic approach to healthcare, Medplus also provides other complementary services including medicine use review, expert counselling, prescription management, free health screenings and chronic disease management. Medplus was founded in 1993 and is based in Lagos, Nigeria.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-02-21 i-Fitness

Lagos, Nigeria

i-Fitness is a fitness chain that provides rewarding fitness experiences with 21 branches across Nigeria, has over 250 professionally certified personal trainers, and state-of-the-art gym facilities. i-Fitness is based in Lagos.

Buy -
Buyer

Africinvest

Tunis, Tunisia

Investor Investor Investor Investor Investor

website


Category Growth Capital Firm
Founded 1994
PE ASSETS 1.9B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Africinvest is a private equity firm focused on growth investments in African companies. The Firm generally targets minority investments in small to medium-sized companies, but Africinvest will consider select majority situations. Africinvest does not have any sector preferences and looks to hold for 4 to 6 years. Africinvest was formed in 1994 and is headquartered in Tunis, Tunisia.


DEAL STATS #
Overall 53 of 54
Sector (Business Services) 5 of 5
Type (Secondary Buyout) 5 of 5
Country (Kenya) 6 of 6
Year (2023) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-20 Jems Group

Neuilly, France

Jems Group is a provider in Big Data and pioneer of data-oriented digital transformation. JEMS intervenes in all activity sectors, from mid-cap companies to CAC 40, particularly in the fields of health, automotive, agriculture, retail, finance, Facility Management, and industry. Jems Group was established in 2002 and is based in Neuilly, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-29 Netis

Casablanca, Morocco

Netis is a telecommunication and energy infrastructure service provider that offers a wide array of services such as telecom tower infrastructure, fiber optics deployment, and energy-saving solutions. Netis is based in Casablanca, Morocco.

Buy -

Seller(S) 2

SELLER

Africinvest

Tunis, Tunisia

Investor Investor Investor Investor Investor

website


Category Growth Capital Firm
Founded 1994
PE ASSETS 1.9B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Africinvest is a private equity firm focused on growth investments in African companies. The Firm generally targets minority investments in small to medium-sized companies, but Africinvest will consider select majority situations. Africinvest does not have any sector preferences and looks to hold for 4 to 6 years. Africinvest was formed in 1994 and is headquartered in Tunis, Tunisia.


DEAL STATS #
Overall 12 of 12
Sector (Business Services) 2 of 2
Type (Secondary Buyout) 4 of 4
Country (Kenya) 2 of 2
Year (2023) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-20 Jems Group

Neuilly, France

Jems Group is a provider in Big Data and pioneer of data-oriented digital transformation. JEMS intervenes in all activity sectors, from mid-cap companies to CAC 40, particularly in the fields of health, automotive, agriculture, retail, finance, Facility Management, and industry. Jems Group was established in 2002 and is based in Neuilly, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-29 Netis

Casablanca, Morocco

Netis is a telecommunication and energy infrastructure service provider that offers a wide array of services such as telecom tower infrastructure, fiber optics deployment, and energy-saving solutions. Netis is based in Casablanca, Morocco.

Buy -
SELLER

Gulf Capital

Investor Investor Investor Investor Investor

website


Category Asset Manager
Founded 2006
PE ASSETS 1.4B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Gulf Capital is a leading alternative asset management company focusing primarily on late-stage control buy-outs, growth capital, real estate development and private debt in the Middle East. Gulf Capital's private equity group looks to acquire and invest in companies where it can offer help with operational improvements and expertise. Broad areas of interest include energy, oil and gas, water, healthcare, education, and logistics. Gulf Capital was established in 2006 and is headquartered in Abu Dhabi.


DEAL STATS #
Overall 6 of 6
Sector (Business Services) 1 of 1
Type (Secondary Buyout) 2 of 2
Country (Kenya) 1 of 1
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-01 Chef Middle East

Dubai, United Arab Emirates

Chef Middle East is a regional supplier of foods to the hotel, dining and airline industries, representing some of the best global brands. It boasts first-class operations and facilities, servicing more than 1,000 customers in the United Arab Emirates, Qatar and Oman.

Sell -