Adenia Partners

Adenia Partners is a private equity firm based in Saint Pierre, Mauritius, founded in 2002. The firm specializes in mid-market investments, targeting promising businesses across various sectors in Sub-Saharan Africa, including agribusiness, manufacturing, financial services, healthcare, consumer goods, and technology. By focusing on these key industries, Adenia Partners aims to foster growth and development in the region's economy. Through strategic investments, the firm seeks to enhance the value of its portfolio companies while contributing to the broader economic landscape in Africa.

Jermaine Armah

Investment Associate

Pierre-Alexandre Assou

Investment Associate

Stephane Bacquaert

Managing Partner, Board Member & Investment Committee Member

Charles Boatin

Partner

Florent de Boissieu

Partner

Alexis Caude

Managing Partner & Investment Committee Member

Antoine Delaporte

Founder, Managing Partner & Investment Committee Member

Nnennia Ejebe

Partner

Firdosh Kaudeer

Chief Financial Officer

Elise Lame

Analyst

Evans Miriti

Investment Associate

Martha Osier

Partner

Nelly Pocthier-Peccoz

Investment Associate

Tojo Rakotozafy

Investment Manager

Koloina Razafindratsita

Investment Manager

Christophe Scalbert

Partner

Past deals in Francophone Africa

Ademat

Acquisition in 2016
Ademat, established in 1983 and located in Abidjan, Ivory Coast, specializes in the distribution, installation, and maintenance of power devices, including generators, industrial drive systems, uninterruptible power supply units, inverters, and electrical and IT networks. The company caters to various sectors such as agro-processing, telecommunications, financial services, and real estate, providing essential technical assistance and consulting services. With a focus on meeting diverse energy requirements, Ademat leverages its expertise across multiple business lines to ensure reliable service delivery to its clients.

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.

Ciel

Acquisition in 2013
CIEL Textile Limited, based in Ebène, Mauritius, specializes in the manufacture and sale of knitted and woven garments. Its product range includes shirts for men and women, fabrics, knitwear, T-shirts, polo shirts, sweatshirts, and joggers. The company operates retail outlets and exports its products to various regions, including Mauritius, Madagascar, Asia, and South Africa. Established in 1971 and originally named Floreal Knitwear Limited, it adopted its current name in 2001. CIEL Textile Limited is a subsidiary of CIEL Limited, an investment holding company founded in 1912 that operates across diverse sectors such as textiles, agriculture, and healthcare.

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.

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.

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.

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.

Newpack

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.
Le Louvre Hotel and Spa Antananarivo operates as a 4-star hotel in downtown Antananarivo just 50 meters from the Presidential Palace.

Orange Madagascar

Acquisition in 2005
Orange Madagascar, based in Antananarivo, is a prominent provider of wireless telecommunications services in Madagascar. Founded in 1998 and formerly known as Societe Malgache de Mobiles, the company adopted its current name in 2003. As a subsidiary of Orange S.A., Orange Madagascar has established itself as the market leader in mobile telecommunications, boasting over 2 million subscribers and holding a 60% share of the market from 2005 to 2010. The company offers a range of services, including cellular and internet connectivity for both individual and corporate customers, utilizing modern 2.5G, 3G, and 4G networks. Additionally, Orange Madagascar has developed an undersea cable to enhance global connectivity, ensuring reliable communication for its users.