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 is Nigeria’s leading provider of digital infrastructure. The company provides telecommunications infrastructure and wireless services such as Built-to-Suit, colocation, Distributed Antenna Solutions, 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.


DEAL STATS #
Overall 20 of 20
Sector (Communications) 2 of 2
Type (Growth Capital) 9 of 9
Country (Nigeria) 2 of 2
Year (2023) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-19 Solevo

Geneva, Switzerland

Solevo is a specialty chemicals distribution platform operating across eight countries in West and Central Africa, delivering critical inputs to high GDP contributing sectors in life sciences and industrials. Solevo offers a unique one-stop-shop for a range of inputs and chemicals including agriculture, also providing support for over one million small holder farmers, helping them to secure their livelihoods through increased yields and greater crop security, resulting in improved food security and climate resilience across Africa. Solevo was founded in 1918 and is based in Geneva, Switzerland.

Buy -
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) 1 of 1
Type (Growth Capital) 1 of 2
Country (Nigeria) 8 of 9
Year (2023) 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 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 -