Mediterrania Capital Partners, a private equity firm focused on growth investments for SMEs and mid-cap companies in North Africa and Sub-Saharan countries, has announced that AMMC, the Moroccan Capital Market Authority, has approved Akdital’s IPO in December 2022.
Akdital Group is the largest private clinics group in Morocco is launching an IPO at the Casablanca Stock Exchange, enabling Mediterrania’s partial exit.
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Founded in 2010, Akdital has a network of 15 multidisciplinary and specialised health establishments across the country.
Using advanced techniques and best-in-class equipment, Akdital provides a variety of healthcare services such as cardiology, cardiac surgery, neurosurgery, oncology, radiotherapy, intensive care, neonatal care, etc.
In November 2019, Mediterrania Capital Partners through its MC III fund, invested in Akdital providing financial, strategic and operational support to boost the group’s development plans helping create more than 700 new jobs in the three years of MC III’s tenure.
Through the IPO, Akdital plans to raise 1.2 billion dirhams to help fund the group’s geographical and medical services expansion plans. The offering will take place through a capital increase and a share sale with the subscription period running from November 29 to December 6, 2022.
This will be Mediterrania’s sixth portfolio company exit in 12 months, according to Albert Alsina, Founder and CEO of Mediterrania Capital Partners.
“Despite extremely challenging economic and political times in the world, our portfolio companies in Africa have continued to perform above the rest of the players in their sectors,” he said.
“The six exits in the last 12 months are the result of focused work, relentless effort and, above all, great partnerships. Our focus remains on driving liquidity events with good returns, ensuring that Mediterrania Capital Partners continues to outperform the market,” he added.
While Mediterrania’s objective is to create value and deliver attractive financial returns, over the years the PE firm has maintained a responsible investment mentality and worked with its portfolio companies to have a direct and positive impact on societies, economies and the environment. Mediterrania’s exits in the last 12 months include: TGCC via IPO in December 2021; Groupe Cofina via secondary sale; Groupe Scolaire René Descartes via MBO in November 2022; MedTech Group via MBO in November 2022, Indigo Company -via MBO + secondary sale in November 2022;