M&A Deal Summary

Foursan Group and NBK Capital Partners Acquire Polymedic

On January 13, 2020, private equity firms Foursan Group and NBK Capital Partners acquired life science company Polymedic from Africinvest

Acquisition Highlights
  • This is Foursan Group’s 1st and NBK Capital Partners’ 1st transaction in the Life Science sector.
  • This is Foursan Group’s 1st and NBK Capital Partners’ 1st transaction in Morocco.

M&A Deal Summary

Date 2020-01-13
Target Polymedic
Sector Life Science
Buyer(s) Foursan Group
NBK Capital Partners
Sellers(s) Africinvest
Deal Type Secondary Buyout
Advisor(s) Clifford Chance (Legal)

Target

Polymedic

Casablanca, Morocco
Polymedic is a generic pharmaceuticals manufacturer with a portfolio of approximately 190 registered products in a wide range of therapeutic areas including dermatology, cardiovascular, ENT, and CNS. Polymedic was founded in 2001 and is based in Casablanca, Morocco.

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Buyer(S) 2

Buyer

Foursan Group

Amman, Jordan

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2000
Size Small
Type Sector Agnostic
DESCRIPTION

Foursan Group is a private equity firm focused on opportunities in the Middle East. Foursan has launched multiple growth capital funds in partnership with leading regional and global investors to invest across a broad range of industries in the financial services, education, pharmaceutical, healthcare, aviation, and food/beverage sectors.


DEAL STATS #
Overall 13 of 18
Sector: Life Science M&A 1 of 1
Type: Secondary Buyout M&A Deals 1 of 1
Country: Morocco M&A 1 of 1
Year: 2020 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-30 Sands National Academy

Khalda, Jordan

Sands National Academy is a 2,500 student, K-12 school-based in Jordan offering 3 educational programs: Tawjihi (national curriculum), SAT, and IGCSE. Sands National Academy was founded in 2007 and is based in Khalda, Jordan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-17 Jo Academy

Amman, Jordan

Jo Academy is an online private tutoring platform offering online supplementary courses (pre-recorded and live) to Grade 12 students enrolled in the Jordanian national program (Tawjihi). Jo Academy is based in Amman, Jordan.

Buy -
Buyer
DESCRIPTION

NBK Capital Partners is a private equity firm that makes investments in middle-market companies headquartered in the GCC, Turkey, the Levant and North Africa with high growth potential and significant opportunities for value creation. The Firm looks to invest between $10 to $60 million for companies with EBITDA typically ranging between $3 to $25 million. Sectors of interest include education, energy services and equipment, consumer products/services, and food. NBK Capital Partners was formed in 2005 and is based in Dubai, United Arab Emirates.


DEAL STATS #
Overall 25 of 25
Sector: Life Science M&A 1 of 1
Type: Secondary Buyout M&A Deals 1 of 1
Country: Morocco M&A 1 of 1
Year: 2020 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-03 Classic Fashion

Irbid, Jordan

Classic Fashion is an apparel manufacturer in the MENA region, with a turnover of $ 610 million. It produces 450, 000 to 500, 000 garments per day, with an average run of 200 styles per month, and contributes over 30% of all the garment exports of Jordan. Classic Fashion was founded in 2003 and is based in Irbid, Jordan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-18 Classic Fashion

Irbid, Jordan

Classic Fashion is an apparel manufacturer in the MENA region, with a turnover of $ 610 million. It produces 450, 000 to 500, 000 garments per day, with an average run of 200 styles per month, and contributes over 30% of all the garment exports of Jordan. Classic Fashion was founded in 2003 and is based in Irbid, Jordan.

Sell -

Seller(S) 1

SELLER

Africinvest

Tunis, Tunisia

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1994
PE ASSETS 2.0B 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 8 of 14
Sector: Life Science M&A 2 of 2
Type: Secondary Buyout M&A Deals 2 of 4
Country: Morocco M&A 2 of 2
Year: 2020 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-01 Migo

San Francisco, California, United States

Migo is an embedded lending platform that enables companies to extend credit to consumers and small businesses in their own apps. Migo builds proprietary ML algorithms to assess credit risk using the company’s data then automates credit facilities via cutting-edge cloud infrastructure, simplifying the complex world of lending with a simple API. Migo was founded in 2013 and is based in San Francisco, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-14 MDP

New Cairo, Egypt

MDP provides card manufacturing & payment processing and has produced over 100M cards. Masria Digital Payments offers a complete Ecosystem in terms of cards, processing, as well as digital solutions. Masria Digital Solutions covers all sectors in the Banking, Public sector, Health & Sports, Education, FinTech, and Retail fields. MDP was founded in 1985 and is based in New Cairo, Egypt.

Buy -