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M&A Deal Summary

The Abraaj Group Acquires Seven Seas Technologies Group

On July 1, 2010, asset manager The Abraaj Group acquired media company Seven Seas Technologies Group

Acquisition Highlights
  • This is The Abraaj Group’s 12th transaction in the Media sector.
  • This is The Abraaj Group’s 10th transaction in Kenya.

M&A Deal Summary
Date 2010-07-01
Target Seven Seas Technologies Group
Sector Media
Buyer(s) The Abraaj Group
Deal Type Buyout (LBO, MBO, MBI)

Target

Seven Seas Technologies Group

Nairobi, Kenya
Seven Seas Technologies (SST) is an IT solutions provider with operations in Kenya, Uganda and Rwanda. SST’s offerings have evolved from network equipment sales and installation to more complex service provisions such as consulting, systems integration and training. The company’s strategy to develop its product range and focus on key growth sectors has enabled it to further establish itself in the market.

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Buyer(S) 1

Buyer

The Abraaj Group

Dubai, United Arab Emirates
Category Asset Manager
Founded 2002
PE ASSETS 7.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Abraaj Capital Limited is a private equity firm that seeks investments in the Middle East, North Africa, and South Asia. Abraaj looks for stable, mature businesses and uses a 'buy and build' strategy for growth. Areas of interest include aerospace, healthcare, transportation, financial services, leisure, education, energy, and manufacturing. In addition to its buyout and growth capital investments, Abraaj also invests in real estate and infrastructure. Abraaj Capital was formed in 2002 and is based in Dubai.

DEAL STATS #
Overall 93 of 182
Sector: Media M&A 12 of 16
Type: Buyout (LBO, MBO, MBI) M&A Deals 85 of 144
Country: Kenya M&A 10 of 14
Year: 2010 M&A 9 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-06-01 Mountain Fresh Farms

Samoa

Mountain Fresh Farms is one of the largest primary producers in Samoa and was formerly the largest producer of eggs. Assistance was sought to grow its chicken flock by installing new laying sheds and equipment. Funding was placed on hold when changes in government regulations made local production uncompetitive. Other business opportunities are being pursued with Soil Health Pacific.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-08-01 Desarrollos Culturales Costarricenses S.A

San José, Costa Rica

Desarrollos Culturales Costarricenses (DCC) opened its first branch in San José in Costa Rica 1995, positioning itself as a bookstore chain offering a personalized service. DCC now operates 15 stores under the Libreria Internacional brand and two under LibroMax. It also owns Ediciones Jadine, a publishing house. DCC branded Libreria Internacional as a well-respected bookstore stocking a wide variety of subjects, combined with competitive prices and good product availability. Its excellent customer service is another strong characteristic.

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