Investment Summary

Development Partners International and Verod Capital Management Invest In Pan African Towers

On November 27, 2023, private equity firms Development Partners International and Verod Capital Management invested in communications company Pan African Towers

Investment Highlights
  • This is Development Partners International’s 2nd and Verod Capital Management’s 1st transaction in the Communications sector.
  • This is Development Partners International’s 2nd and Verod Capital Management’s 8th transaction in Nigeria.

Investment Summary

Date 2023-11-27
Target Pan African Towers
Sector Communications
Investor(s) Development Partners International
Verod Capital Management
Deal Type Growth Capital

Target

Pan African Towers

Lagos, Nigeria
Pan African Towers provides digital infrastructure, offering telecommunications and wireless services including built-to-suit solutions, colocation, distributed antenna systems, buy-lease-back, and other value-added services. Pan African Towers was founded in 2017 and is based in Lagos, Nigeria.

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Investor(S) 2

Investor
DESCRIPTION

Development Partners International is a private equity group focused on investment opportunities across Africa. The Firm targets companies that benefit from the fast-growing emergence of the middle-class. Sectors of interest include communications, financial services, retail, education, and Consumer durables. Development Partners International was established in 2007 and is headquartered in London, United Kingdom.


DEAL STATS #
Overall 22 of 22
Sector: Communications M&A 2 of 2
Type: Growth Capital M&A Deals 11 of 11
Country: Nigeria M&A 2 of 2
Year: 2023 M&A 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-27 Kazyon

Zamalek, Egypt

Kazyon is a discount supermarket chain, offering affordable groceries and household products through a rapidly growing network of stores. Kazyon was founded in 2014 and is based in Zamalek, Egypt.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-06-12 IFS

Mapou, Mauritius

IFS is a provider of specialist facility management services to clients on remote sites across the African continent, including catering, maintenance, laundry, and housekeeping. IFS was founded in 2000 and is based in Mapou, Mauritius.

Sell -
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 9 of 10
Sector: Communications M&A 1 of 1
Type: Growth Capital M&A Deals 1 of 2
Country: Nigeria M&A 8 of 9
Year: 2023 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-16 Ison Xperiences

Nairobi, Kenya

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 was founded in 2011 and is based in Nairobi, Kenya.

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 -