AAIP backs Ethiopian Generic Pharma
2nd March 2016
African Alpha Investment Partners (AAIP), a UK based investment and advisory firm focussed on Africa, is pleased to announce it has backed Private Equity firm 54 Capital, with a direct investment into Ethiopia’s largest drug manufacturer, Addis Pharmaceutical Factory Share Company (APFSC). The total size of the Investment will be $42mm and will be managed by 54 Capital. AAIP and its syndicate provided just under 15% of the total.
This marks the first investment of African Alpha into Ethiopia and the Pharmaceutical Industry in Africa.
Says Brad Koen, AAIP co-founder and director, “our model is to find and back superior management teams seeking growth capital in Africa. 54 Capital as well as APF are both companies that impressed us on this front and we are looking forward to support Management as they execute their plans in a most exciting industry and in a country that has attracted significant accolades in terms of its growth rate and ability to execute its ambitious growth and transformation plans”
About 54 Capital
54 Capital Ltd was established in May 2013 as an asset manager focusing on Africa. In addition to this investment, 54 Capital has invested c. US$35 million into the FMCG sector in Ethiopia since 2014, through the acquisition of majority stakes in companies serving the beverage and food markets.