19-12-2014. Mediterrania Capital Partners (“MCP”), the regional Private Equity firm focusing in Growth investments for SMEs, announces an interim close of Mediterrania Capital II (“MC II”), its Growth Fund for North Africa, at €115.3 m.
This closing is near to the target fund size of €120 million and comforts MCP in its objective to reach a final close at €150 m planned for March 2015.
Three new commercial investors have been key to reach this interim close. Additionally, two of the first close investors have strengthened their interest by granting MC II with additional financial commitments. This is a proof of the trust that LPs have developed on the MCP team over the past years.
Mr. Albert Alsina, MCP Managing Partner and CEO, declared: ”With this additional commitment, we further diversify and strengthen our investor base in terms of geography and investor type. We are very proud of this outcome and look forward to welcoming new investors in our Fund.”
Consistent with its strategy, MCP continues to seek growth opportunities in the Maghreb region – Morocco, Algeria and Tunisia, with potential expansion into Africa Sub-Saharan countries. MCP searches SMBs with an enterprise value of €10 million to €50 million and with expansion strategies into North Africa and Sub-Saharan African markets.
MC II already completed two deals in acquiring 49% of Cash Plus, a Moroccan company active in the financial services sector, in July; and 45% of C.E.C.I., an industrial vehicles manufacturer of trucks and trailers leader in Morocco and Algeria and expanding in the region, in November of the current year.
MC II continues to receive interests from African, European and American investors.
Background
Mediterrania Capital Partners (www.mcapitalp.com) is a private equity firm focusing on African and mainly North African growth investments in SMEs and mid-cap companies.
Headquartered in Malta and with offices in Barcelona, Casablanca, Tunis and Algiers, Mediterrania Capital Partners takes a very intense hands-on and proactive approach to implementing its growth strategy, by leading the governance of the companies and driving the key internal value creation process. The partners of MCP have extensive experience in managing companies including commercial experience, strategy formulation, finance and operations.
MCP is a regulated financial investment manager, licensed by the MFSA, in Malta. Mediterrania Capital II is also a MFSA regulated PE Fund. Cuatrecasas is acting as legal adviser for MCP. S.O. Capital Advice (www.socapadvice.com) is acting as global placing agent for MC II.
For more information, please contact us or nchaouat@socapadvice.com.
