Enexus acted as M&A advisor to Enko Capital and Netis founders in the sale of a majority stake in Netis Group, a leading telecom network service provider

Netis Group

In 2018, Enko Capital Managers invested in Netis through the Enko Africa Private Equity Fund (EAPEF), a private equity fund targeting mid-cap companies across Africa. 

Founded in 2009, Netis is a major pan-African telecom infrastructure service provider headquartered in Morocco with subsidiaries in 15 African countries. It offers a comprehensive range of products and services, from maintenance of telecom towers to fiber optics deployment and installation of power and energy saving solutions.

Enko Capital Managers sold its majority stake in the Netis group to a consortium jointly led by two pan-African private equity fund managers, Amethis and Africinvest. The consortium was joined by two leading development finance institutions, Proparco and IFC.

This majority buyout will enable the founders of Netis to unlock new growth levers and keep expanding throughout Africa.

About Enko Capital

Enko Capital group is an Africa-focused asset management firm with over $900min assets under management, and with offices in London, Johannesburg, Abidjan, Kigali and Yaoundé. It notably manages the Enko Africa Private Equity Fund (EAPEF), a private equity fund targeting mid-cap companies across Africa. 

About Amethis Finance

Amethis is an investment fund manager dedicated to the African continent, with an investment capacity exceeding €725m. Amethis has been created through a partnership with the Edmond de Rothschild Group. Amethis brings growth capital to promising mid-cap champions in a diversity of sectors throughout the African continent. 

About Africinvest

AfricInvest is a leading pan-African investment platform active in multiple alternative asset classes including private equity, venture capital, private credit, blended finance, and listed equities. Over the past 25 years, it has raised more than $2bn to finance more than 200 companies.

Enexus acted as M&A fundraising advisor to Ascent Capital on the equity fundraising of its Ascent Rift Valley Fund II (“ARVF II”) from private investors

Fundraising Ascent Capital

About ARVF II

ARVF II is a private-equity fund investing in Africa, with a focus on fast-growing SMEs in East Africa. The fund focuses on majority or large minority growth capital and buy-out capital investments in Africa (Ethiopia, Kenya and Uganda, with opportunistic investments in Tanzania and Rwanda). The fund is managed by Ascent Capital and has reached its final closing in July 2022, with a total size of USD 128m. 

About Ascent Capital

Ascent Capital is a fund manager in East Africa. Ascent counts with a strong track record in various industries including manufacturing, consumer goods, healthcare and financial services.

Enexus acted as M&A advisor to BBOXX in a USD 50M equity round led by Mitsubishi

BBOXX, a next generation utility, successfully closed a $50 million Series D funding round. Mitsubishi Corporation led the round followed by ENGIE Rassembleurs d’Energies (affiliated to ENGIE Group), impact investor Bamboo Capital Partners, Dutch impact investment fund DOEN Participaties and Canadian growth equity firm MacKinnon, Bennett & Company (MKB).

Ranked among the top five African start-up funding deals of 2019 (WeeTracker), this cross-border transaction marked a key milestone in supporting BBOXX’s scale-up across the continent. 

About BBOXX

BBOXX is one of Africa’s leading off-grid energy suppliers. The company provides electricity to over 500,000  people and has installed more than 100,000 solar home systems in East, Central and West Africa. 

About Mitsubishi Corporation

Mitsubishi Corporation is a global integrated business enterprise that develops and operates businesses together with its global network of around 1,800 companies. The Group has eight business units that operate across various industries including environmental energy, materials solutions, mineral resources, urban development & infrastructure, mobility, food, smart-life creation and power solutions industry.