Enko Capital realizes first exit for EAPEF

Image Credit: Pixabay

Marking the first exit for the Enko Africa Private Equity Fund (EAPEF), Enko Capital Managers has agreed to sell its significant minority stake in AMI Logistics, a Dubai-headquartered logistics business with significant operations in East, Central and Southern Africa, to CEVA Logistics, a subsidiary of global shipping giant CMA CGM. A representative declined to disclose the terms of the deal and the returns earned for EAPEF’s LPs from the sale.

As well as Enko, AMI’s founders Marc de Reymaeker and Vincent Hachez are also disposing of their stakes in the business. Enko originally invested $7 million in the form of a convertible debt instrument in AMI on behalf of the $63 million EAPEF as part of an expansion capital deal in 2017.  As well as supporting AMI’s expansion strategy on the continent in general, part of the capital was used to fund AMI’s acquisition of Manica Holdings, an established freight-forwarding and logistics business operating with five operating subsidiaries in South Africa, Zimbabwe, Zambia, Malawi, and Botswana.

To read this article, you must be a paid subscription member. (Current members login here)


Reserve your digital subscription today

Join now for $35 per month

Join now for $395 per year

for access to:

  • Weekly newsletter with original and curated news, analysis and perspective
  • Africa’s private capital deals, fund raises and the investment firms and executives involved
  • Portfolio company news that impacts value and stakeholder participation
  • Job moves and partnerships between leading market participants
  • Exclusive access to Africa Capital Digest’s full content archive

If you’d like more information on exceptional value group subscriptions for your colleagues and teams, please contact Teresa Hall at thall[at]africacapitaldigest.com today.