AfricInvest Europe is selling its stake in the Afitex Group to Sparring Capital, ensuring the transfer between the Group’s founders, Messrs. Yves Durkheim and Didier Benamu, and the management team led by Sébastien Mathiot.

Founded in 1992 by Messrs. Yves Durkheim and Didier Benamu, the Afitex Group specializes in the development, production and marketing of geosynthetic materials for the civil, public works, environmental and industrial sectors. Originally a distributor, the group has gradually integrated the entire value chain and now has four production sites in France, Algeria and Canada.

AfricInvest Europe entered the group’s capital in August 2017, enabling it to manage the exit of previous minority financial investors and fund the group’s growth. During this period of support, the group strengthened itself through organic growth and external growth:

• In July 2018, Afitex completed the acquisition of Texinov, a company based in the Lyon region engaged in the production and marketing of geosynthetics for soil and pavement reinforcement. This acquisition strengthened the group’s presence in France and allowed the expansion of its product range.

• In late 2021, the group successfully relocated one of its main reinforcement products factories to a newly constructed site located 10 km from the historical site. This operation was accompanied by an increase in production capacity.

• Results over this period benefited from strong activity in Africa, which benefited from AfricInvest’s contribution and network on the continent (a major road construction project in Benin, a dam in Tanzania, strengthening of foundations in Senegal, watertightness and drainage of basins in Tanzania , reinforcement of the runway of Mombasa airport, waterproofing and drainage of landfills in Algeria, retaining walls in Morocco, etc.).

This new capital transaction, organized by Sparring Capital, accompanied by Swen Capital Partners, thus ensures the transfer between Messrs. Yves Durkheim and Didier Benamu and the current management team led by Sébastien Mathiot. It enables management and employees to strengthen their capital.

The group then intends to continue the expansion of its main activities in France and abroad, the development of the product offer through new ranges, but also the implementation of a proactive external growth strategy.

For Khaled Ben Jennet and Stéphane Colin, Heads of AfricInvest Europe: “ We are pleased to have supported the founders of Afitex and the whole group since 2017 in their development in France and Africa, where a new commercial subsidiary was created in Morocco and the capital of the Algerian subsidiary was restructured. Through organic and external growth, the group has been able to strengthen its production capacities, strengthen its range and its positioning. “.

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Posted on 1/18/23 9:19 AM