Adenia to Acquire 12 Air Liquide Subsidiaries in Africa

Adenia Partners (“Adenia”), a leading private equity firm that has been making responsible and sustainable investments in Africa for over 20 years, has signed an agreement with Air Liquide, world leader in industrial and medical gases, for the acquisition of 12 of its subsidiaries in West and Central Africa and the Indian Ocean.

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Retrieved on: 
Thursday, March 14, 2024
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Tags: 
Oil, Gas, Chemicals, Plastics, Other Professional Services, Energy, Manufacturing, Finance, Consulting, Professional Services, General Health, Other Natural Resources, Asset Management, Natural Resources, Other Manufacturing, Data Analytics, Health, Partner, Growth, Acquisition, Investment, Air Liquide, Democratic republic
Geotags: 
AFRICA, UNITED STATES, NORTH AMERICA, COTE D'IVOIRE, NEW YORK, GABON, BURKINA FASO, MALI, TOGO, BENIN, GHANA, SENEGAL, MADAGASCAR, CAMEROON
Organisation: 
ADENIA PARTNERS
Summary
Key Points: 
  • Adenia Partners (“Adenia”), a leading private equity firm that has been making responsible and sustainable investments in Africa for over 20 years, has signed an agreement with Air Liquide, world leader in industrial and medical gases, for the acquisition of 12 of its subsidiaries in West and Central Africa and the Indian Ocean.
  • In addition, as part of the transaction, Air Liquide has entered a long-term contract with Adenia for the supply of numerous industrial and specialty gases.
  • These supplies, together with Air Liquide's support in the transition, notably through a technical assistance contract, will complement future investments.
  • Adenia intends to accelerate the growth of this new group by investing heavily in production and storage capacity to better serve its customers."


Adenia Partners (“Adenia”), a leading private equity firm that has been making responsible and sustainable investments in Africa for over 20 years, has signed an agreement with Air Liquide, world leader in industrial and medical gases, for the acquisition of 12 of its subsidiaries in West and Central Africa and the Indian Ocean.

As part of the agreement, the entities and employees in Benin, Burkina Faso, Cameroon, Congo, Ivory Coast, Gabon, Ghana, Madagascar, Mali, Democratic Republic of Congo, Senegal and Togo will form a new, independent, pan-African industrial gases group, that Adenia intends to strengthen and develop through long-term support and additional investments of up to 30 million euros.

In addition, as part of the transaction, Air Liquide has entered a long-term contract with Adenia for the supply of numerous industrial and specialty gases. These supplies, together with Air Liquide's support in the transition, notably through a technical assistance contract, will complement future investments.

Christophe Scalbert, Partner at Adenia, commented: "With a presence in 12 countries, sales approaching 60 million euros, and unique expertise and teams, we see the emergence of a continental leader that will benefit from strong infrastructure development, increasing industrial activities and natural resources industries on the African continent. Adenia intends to accelerate the growth of this new group by investing heavily in production and storage capacity to better serve its customers."

Completion of this transaction is subject to customary regulatory approvals.

Acquirer advisors :

- Financial, Tax and IT Due Diligence : Deloitte

- Legal (due diligence and documentation) : Asafo & Co

- Strategic and commercial advisor : Decrop Consulting

- Technical DD : DPGS & Alliance Partners

- ESG Due Diligence : ClassM

About Adenia Partners

Adenia Partners is a private markets investment firm with over $800M assets under management, committed to responsible investing and a sustainable Africa. Founded in 2002, Adenia has a proven track record with over 30 platform investments executed and 17 realized exits. Based on-the-ground across Africa, Adenia has one of the most highly qualified African private markets investment teams in terms of educational pedigree, longstanding experience as entrepreneurs and investors, and local in-depth knowledge. By creating stronger companies with quality jobs, fostering economic improvement, and elevating companies to meet ESG standards, Adenia is increasing the enterprise value for investors, whilst benefiting workers, communities, and companies in Africa.

For more information, please visit: www.adenia.com

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