12/05/2023
Nota de prensa
MEDITERRANIA CAPITAL PARTNERS, DEG, PROPARCO AND FMO INVEST €75M IN LAPROPHAN MOROCCO PHARMACEUTICAL COMPANY
Mediterrania Capital Partners, a Private Equity firm focused on growth investments for SMEs and mid-cap companies in North Africa and Sub-Saharan countries, is pleased to announce its acquisition of a stake in Laprophan – one of the leading pharmaceutical companies in Morocco –through its fund MC IV, alongside Germany’s development finance institution DEG, Proparco and FMO.
Founded in 1949 by Abderrahim Bennis, Laprophan is a pioneering pharmaceutical company and nowadays stands out as one of the undisputed leaders in the manufacturing, distribution, import and export of pharmaceutical products in Morocco. The company distributes its own branded products and imported finished products from large international laboratories, providing patients and healthcare professionals with a wide range of medical drugs covering over 40 specialties. Laprophan also exports products to more than 30 countries across Africa and the Middle East and is an internationally renowned brand in the region.
Through its investment, the consortium aims to support Laprophan’s growth and expansion plans triggered by the recent generalisation of Morocco’s compulsory health insurance scheme (“AMO”), which has doubled the number of beneficiaries in the last 12 months to reach 22 million people, and the rise of demand for generic drugs in Morocco and Sub-Saharan markets.
Commenting on the transaction, Albert Alsina, Founder and CEO of Mediterrania Capital Partners, said: “We thank our longstanding partners DEG, Proparco and FMO for their trust and financial support which have been crucial in enabling this important transaction. We’re very excited to join forces and work with Laprophan’s management to reach the company’s next stage of development.”
Hatim Ben Ahmed, Managing Partner at Mediterrania Capital, added: “Laprophan, with its outstanding leadership team, strong focus on innovation and solid commitment to make medicines more accessible across Africa and the Middle East, is the ideal investment opportunity from both a value creation and impact perspective.”
Farid Bennis, CEO of Laprophan, said: “We are very happy to have Mediterrania Capital Partners and its co-investors with us to write a new chapter in Laprophan’s development plan together. This partnership will greatly help reinforce our offering and so improve public health as well as our international footprint”.
Laprophan was advised by Ascent Capital Partners and GBL, its financial and legal advisors, respectively. Mediterrania Capital Partners and the co-investors obtained legal advice from ASAFO & Co.
Mediterrania Capital Partners has been present in Morocco since 2013 with investments in Akdital Holding, Cash Plus, C.E.C.I., Dislog Industries, Indigo Company, MedTech, TGCC and Université Privée de Marrakech.
About Mediterrania Capital Partners
Mediterrania Capital Partners is a Private Equity firm focusing on growth investments in SMEs and mid cap companies in Africa. The firm invests in consolidated and growing companies with an annual turnover of €20 million to €300 million and expansion strategies into North and Sub Saharan African markets. Headquartered in Malta and with offices in Abidjan, Barc elona, Cairo, Casablanca and Mauritius, the company takes a proactive, hands on approach to implementing the growth strategy of its portfolio companies by driving their Value Creation and ESG processes. For more information
www.mcapitalp.com
About DEG
For more than 60 years, DEG has been financing and advising private enterprises operating in developing and emerging market countries. With a portfolio of around EUR 9.9 billion we’r e one of the world’s largest private sector development financiers. As an impact and climate investor we accompany companies that are addressing transformation and aiming to seize their opportunities. Our customers not only receive financing and advisory s olutions tailored to their needs: they can build on our market knowledge, our impact and climate expertise and our international network. In this way, DEG, a subsidiary of KfW, contributes to creating more skilled jobs and local income and to improving val ue creation on the ground in line with the SDGs. Learn more: www.deginvest.de
About Proparco
Proparco is the private sector financing arm of Agence Française de Développement Group (AFD Group). It has been promoting sustainable economic, social and environmental development for over 45 years. Pro parco provides funding and support to both businesses and financial institutions in Africa, Asia, Latin America and the Middle East Its action focuses on the key development sectors: infrastructure, mainly for renewable energies, agribusiness, financial i nstitutions, health and education.
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