Adenia Partners

Founded in 2002, Adenia Partners is a Mauritius-headquartered private equity firm that focuses on mid-market investments in agribusiness, manufacturing, financial services, healthcare, consumer goods and technology companies across Sub-Saharan Africa.

Jermaine Armah

Investment Associate

Pierre-Alexandre Assou

Investment Associate

Charles Boatin

Principal

Florent de Boissieu

Principal

Alexis Caude

MD

Antoine Delaporte

Founder and MD

Nnennia Ejebe

Principal

FK

Firdosh Kaudeer

CFO

Elise Lamé

Analyst

EM

Evans Miriti

Investment Associate

Martha Osier

Principal

Fayelle Ouane

Principal

NP

Nelly Pocthier-Peccoz

Investment Associate

Koloina Razafindratsita

Investment Manager

Christophe Scalbert

Principal

26 past transactions

Eastcastle Infrastructure

Private Equity Round in 2021
Eastcastle Infrastructure is a company specializing in Africa’s telecoms tower sector.

Ademat

Acquisition in 2016
ADEMAT ., SARL distributes, installs, and maintains generators, industrial drive systems, UPS (Uninterruptible Power Supply) units, regulators, and electrical and computer networks. The company was founded in 1983 and is based in Abidjan, Ivory Coast.

CIEL Textile Limited

Acquisition in 2013
CIEL Textile Limited, through its subsidiaries, manufactures and sells knitted and woven garments in Mauritius, Madagascar, Asia, and South Africa. The company produces shirts for men and women, as well as fabrics; knitwear products; and T-shirts and polo shirts, sweatshirts, and joggers. It also operates retail outlets. CIEL Textile Limited also exports its products. The company was formerly known as Floreal Knitwear Limited and changed its name to CIEL Textile Limited in August 2001. CIEL Textile Limited was incorporated in 1971 and is based in Ebène, Mauritius. CIEL Textile Limited is a subsidiary of CIEL Limited.

Syrse

Acquisition in 2012
Operating in 11 countries in West and Central Africa, Syrse is the regional leader in electronic payments. Its main activity is the distribution and maintenance of ATMs for its clients, which are financial institutions. Leveraging its network of technicians, Syrse offers a number of other products and services to its clients, including the production and sale of personalized credit cards, IT integration, and bank transaction outsourcing.

Herholdt's Group

Acquisition in 2021
Herholdt’s is a distributor of low voltage electrical products and solar products in South Africa. the company has operations in Johannesburg, Cape Town, Bloemfontein, Kimberley, and George. The company supplies professionals (installers, contractors, resellers…) as well as end-users.

DDP Outdoor Ltd.

Acquisition in 2014
DDP Outdoor Ltd. provides outdoor advertising services in Ghana. Its services include site selection and evaluation, site rental, billboard fabrication and installation, exhibition building, and digital printing. The company also provides airport advertising, premier panels advertising, specialty advertising, and transit advertising services. DDP Outdoor Ltd. was founded in 1973 and is based in Accra, Ghana.

Execom

Acquisition in 2003
Execom is call center in Mauritius that specializes in telemarketing and customer relationship management solutions. Execom has extensive experience in inbound and outbound operations and delivers value-added services in voice and high-end data operations, focused primarily on the French market.

Madagascar Litchis Export

Acquisition in 2010
Madagascar Litchis Export (MLE) is a litchi export businesses located the port of Toamasina. Its activities consist of buying litchi fruit from collectors, processing the fruit, which includes the steps of calibration, selection, sulphurization, and finally packaging the fruit for export to European markets. During the harvest season, which lasts one month, MLE employs over 1,600 people and reaches a daily processing capacity of about 200 tons. MLE is Global GAP certified.
Le Louvre Hotel and Spa Antananarivo operates as a 4-star hotel in downtown Antananarivo just 50 meters from the Presidential Palace.

Fruid’Iles Export

Acquisition in 2011
Fruid’Iles Export is a litchi export businesses located the port of Toamasina. Its activities consist of buying litchi fruit from collectors, processing the fruit, which includes the steps of calibration, selection, sulphurization, and finally packaging the fruit for export to European markets. During the harvest season, which lasts one month, FRUID’ILES employs over 850 people and reaches a daily processing capacity of about 100 tons. FRUID’ILES is Global GAP certified.

CEAL

Acquisition in 2009
CEAL is a company engaged in the rental of heavy equipment for agriculture and civil work operations. It is a pioneer in mechanical harvesting and de-rocking services in Mauritius. CEAL has expanded its rental activities to serve the earthworks and engineering sector. Recently, CEAL has expanded its services to offer full field management services to agricultural land owners.

Expand Technology

Acquisition in 2004
Expand Technology focuses on providing e-payment solutions and financial services and deploymeny of smartcard payment system. Expand Technology delivers custom loyalty card, electronic purse, payment card, and fuel card management solutions to clients in a variety of industries and operates in over 14 countries.

Tumaini

Acquisition in 2018
Tumaini operates a chain of 9 supermarkets in Kenya. A total of 6 stores are located in neighborhood estates in Nairobi, and another 3 stores are located in Kisumu.

Cresta Paints

Acquisition in 2015
Cresta Paints is a leading paint manufacturing company in Ghana with focus on exports to West Africa and having excellence in manufacturing of Polyurethane Paints, Polyurethane Clears, Hardeners, thinners, adhesives and ancillary products. Main focus is on high technology products and services. We have a technical Joint Venture with Noroo Paint and Coatings Co. ltd which is South Korea’s largest manufacturer of paint and coatings. Cresta manufactures “HIQ” and “Bodyian” range of autorefinish products under licence from Noroo. Cresta Paints represents -Jotun Paints (Europe) Ltd, one of world’s largest manufacturer of Protective and Marine coatings and supplies marine paints to dry dock, oil rigs, ships and vessels at Tema port, Lome port, Benin port and Abidjan Port. Cresta Paints has also diversified by representing-Fosroc Construction Chemicals, one of world’s largest and reputed manufacturer of Construction Chemicals and supplies construction chemicals in Ghana, Togo and other neighbouring countries.

Newpack SA

Acquisition in 2008
Newpack SA designs and manufactures corrugated cardboards. It provides regular slotted cartons, trays, top and bottom boxes, pizza and cake boxes, shelf ready packaging, waterproof and cold-proof waxed coated boxes, tailor-made boxes, single sided rolls, and glossy-finish cardboards. The company offers products for farming-food, fruits and vegetables, fresh products and beverage, textile products, soaps, and household products. It serves clients in Madagascar, Mauritius, Seychelles, Africa, Reunion Island, and the Comoros Islands. The company was founded in 1989 and is based in Antanananarivo, Madagascar. It has additional offices in Antsiranana, Madagascar and Pamplemousses, Mauritius.

Ciel Textile Limited (CTL)

Acquisition in 2010
CTL is knitwear, woven, and fine knits apparel manufacturer active in the Indian Ocean region. Its operations, which encompass 17 plants and over 17,500 employees, are vertically integrated from yarn spinning to finished products. In recent years CTL has developed its activities in Asia.

Opham

Acquisition in 2016
Opham is the pharmaceutical products wholesaler in Madagascar. Opham distributes more than 4,500 specialty and generic products to pharmacies and hospitals in the country.

Quick Mart

Acquisition in 2019
Leading retailer in Kenya

CBE Group

Acquisition in 2005
CBE Group is a French industrial SME, specialized in the engineering, production and installation of steel moulds, equipment and tailor-made automated plants used for the production of every type of concrete pieces.

Kanu Equipment

Acquisition in 2018
Kanu is an African heavy-equipment supplier of purpose-fit equipment, providing quality maintenance and on-the-ground service teams, operating in nine countries across Africa, servicing the agriculture, construction and mining industries. The business has demonstrated strong year-on-year growth by securing new customers attracted to Kanu’s internationally recognised equipment brands and its superior levels of customer service and support.

Mauritius Union Group

Acquisition in 2009
The Mauritius Union Group operates within the financial services industry specialising in Insurance, Corporate Pension Schemes, Investment and Loans for both individuals and corporates. Backed by 65 years of experience and the combined expertise of our 5 distinct business entities, the Mauritius Union Group offers customised and tailor-made solutions to suit all your needs.

Orange Madagascar, SA

Acquisition in 2005
Orange Madagascar operates a cell phone network in Madagascar. From 2005 to 2010, the company became the market leader with more than 2 million subscribers and maintains a 60% share of the mobile phone market. Orange Madagascar also offers internet service for both individual and corporate customers and developed an undersea cable to connect Madagascar to the rest of the world.

Mauvilac

Acquisition in 2014
Mauvilac is a paint, coatings, and chemical manufacturer and marketer.

Socolait

Acquisition in 2012
Socolait is a dairy product manufacturer in Madagascar. ‘Socolait’ is a heritage brand name in the country and has been present for decades. The company is specialized in the production of sweetened condensed milk, baby and infant powder (FARILAC), milk powder, and fresh dairy products, such as yogurts and cheeses, and snack products.

Recif Attitude

Acquisition in 2007
Récif Attitude is an adult exclusive hotel where people can spend time together as a couple or with friends. It is a 3-star hotel with 70 rooms and offers a full range of amenities including a wellness center, a water sport center, children’s programs, and two restaurants.