A significant minority stake in Promamec will be acquired by Vantage Capital, the largest mezzanine fund manager in Africa, through the signing of legal documents. This will allow the private equity fund AfricInvest to exit the transaction and fund growth capital expenditures.
The purchase is subject to the Moroccan competition regulators’ approval. The Lahlou Family founded the business in the early 1980s, and since then it has led the local production of medical supplies and evolved to become one of Morocco’s top distributors of medical supplies and equipment.
This investment will allow Promamec to finance its expansion plan, which includes expanding the company’s production capabilities, enhancing its market position by introducing new product categories, and strengthen its positioning in sub-Saharan Africa.
“This transaction represents Vantage Capital’s 34th investment across four generations of funds with its portfolio of investments spread across eleven African countries.