Amethis takes minority stake in precast concrete products manufacturer

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Amethis is adding a seventh investment to the private equity firm’s second fund, acquiring a significant minority stake in a well-established manufacturer of precast concrete products in Côte d’Ivoire. The Africa-focused investment firm is investing a total of €23 million (or about $26 million) in Société Ivoirienne de Béton Préfabriqué or SIBM which the firm will use to upgrade its manufacturing capacity and diversify its product offering across its different customer categories. Of the €23 million, €11 million is being invested as equity in exchange for a 33.4% stake. The remainder of the capital (€12 million) is being invested as a convertible bond.

Established in 1952, SIBM sells its precast concrete products to three end markets. The electrification market, which buys the firm’s concrete electric poles, the infrastructure market which buys products such as gutters, nozzles, culverts, guardrails, rail sleepers, and the construction market which buys hoarding supplies and agglomerates from the firm. Today, SIBM employs 1,200 people operating 8 production sites located near major business hubs in Côte d’Ivoire.

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