MOROCCO – Africa-focused private equity firm Amethis has expanded its portfolio with an investment in Magriser, a pioneer in the distribution and installation of turnkey micro-irrigation and solar pumping systems in Morocco.
Under the deal, Amethis has acquired a majority stake through its Amethis MENA Fund II, dedicated to the SMEs in the region.
The investment is aimed to enable Magriser to transition in a new development phase which will entail launching its own production unit for micro-irrigation pipes by the end of 2021 and ambitions to expand its activities to Sub-Saharan Africa.
“With Magriser, we realize the first operation of Amethis Mena Fund 2, dedicated to SMEs in the region.
“In total alignment with our convictions and strategy, we are very happy to invest alongside Simohamed Azzouz and to support an innovative approach for sustainable management of the country’s natural resources,” Laurent Demey, Amethis Founding Partner said.
Magriser was established in 1987 by Mr Azzedine Azzouz and it is one of the forerunners of the micro-irrigation technique in Morocco.
“Our partnership with Amethis will help us to accelerate the deployment of irrigation systems in Morocco and in Africa.”Simohamed Azzouz – Chief Executive of Magriser
The Group offers today a full line of micro-irrigation equipment ranging from basins coverings, PVC and micro-irrigation pipes to filtration and fertigation systems.
In addition to its core business of distributing micro-irrigation equipment, Magriser diversified its product portfolio by offering solar pumping systems and completed its solutions offering by proposing consulting and installation of turnkey micro-irrigation systems.
Wilfried Poyet, Amethis Investment Director who led the transaction commented, “We are very proud to partner with a young entrepreneur who has proven his ability to achieve strong performances for several years in a strategic area for the kingdom.”
In Morocco, a country affected by water stress, 70% of water use is agricultural.
Thanks to its advanced micro-irrigation solutions, Magriser helps farmers every day to reduce water input while improving agricultural productivity.
Magriser’s irrigation systems save 100 million m3 of water each year, the equivalent of the annual consumption of 4 million people in Morocco.
Thanks to its historical expertise, its wide distribution network, its long-lasting partnerships with top-tier international suppliers and the dedication of its teams, Magriser became a key player in the industry.
“One of the major challenges facing Morocco are water scarcity coupled with strong demographic growth.
“Our partnership with Amethis will help us to accelerate the deployment of irrigation systems in Morocco and in Africa.” Simohamed Azzouz Chief Executive of Magriser stated.
Salma Mekouar, Cross Partners’ Founder acted as Financial Advisor and Global Coordinator of the transaction on behalf of Magriser.
Global law firm Dentons was the legal advisor of the Azzouz family while DLA Piper advised Amethis. PwC et Strategy& assisted Amethis on the financial, taxes and commercial due diligences.
This transaction follows Amethis first transaction in Senegal with the acquisition of a minority stake in one of the country’s leading FMCG company, Nouvelle Minoterie Africaine (NMA).
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