Adenia Partners, a Mauritius-based private equity firm, has divested its entire stake in OMOA Group, selling it to SPE Capital, an investment firm headquartered in Cairo. This transaction marks the final exit from Adenia’s €96 million ($104.97 million) Adenia Capital III fund, which is now fully liquidated. Although the financial details were not made public, the sale represents a significant step for both firms.
OMOA Group, established in 1999, is a leading provider of comprehensive payment solutions across West and Central Francophone Africa. The company offers a wide range of services including ATM installation, maintenance, software solutions, as well as processing and card personalization. With operations in 11 countries, OMOA caters to several banks and microfinance institutions, employing over 150 people.
Adenia Partners founded by Antoine Delaporte, acquired OMOA in 2012. The firm then implemented a series of strategic initiatives aimed at adding value to the new acquisition.
One of the major developments under Adenia’s leadership was the upgrading of OMOA’s ATM offerings, ensuring the company could provide enhanced maintenance capabilities.
Additionally, Adenia oversaw the establishment of a state-of-the-art processing and card personalization centre in Lomé, Togo. This facility was designed to meet the highest industry standards, significantly elevating OMOA’s position as a leader in the payment solutions sector.
Furthermore, Adenia’ introduced an Environmental, Social, and Governance (ESG) action plan that not only reinforced the company’s commitment to sustainable business practices but also boosted its appeal to clients and investors alike.
What does this deal mean for SPE Capital?
SPE Capital’s acquisition of OMOA represents the first investment from its newly launched private equity fund, SPE PEF III. The firm is optimistic about the future of OMOA and aims to build on the strong foundation laid by Adenia Partners.
Stéphane Heuzé, Managing Partner at SPE Capital, expressed the firm’s excitement about the deal, highlighting their intention to help OMOA grow further and solidify its leadership position in the region.
“We are looking forward to contributing to further enhance OMOA’s leadership position in the region and execute on its transformational growth plans,” Heuzé said.
This deal underscores Adenia Partners’ track record of successful exits and strategic investment management in Africa.
Since its founding in 2002, Adenia has completed over 30 investments, demonstrating its expertise in creating value for portfolio companies. The firm has raised a total of $880 million across five funds, establishing itself as a key player in African private equity.
For SPE Capital, the acquisition is a bold step towards building a portfolio of high-growth companies in Africa. With OMOA poised for continued expansion under new ownership, the future looks promising for both the company and its new investors.
