Amethis Finance invests in Velogic, a leading and fast growing logistics and transport company in the Indian Ocean targeting regional expansion
Amethis Finance has concluded an agreement with Rogers and Company Limited (“Rogers”), a Mauritian listed conglomerate to acquire nearly one-third of the share capital of Velogic, a subsidiary of Rogers.
Further to internal reorganization in 2009 which allowed Rogers to take majority control of most of its logistics subsidiaries and to appoint a new management focused on creating synergies between the different business lines and geographic markets, Velogic has become the number one logistics company in Mauritius and enjoys strong market positions in the Indian Ocean. The company reported strong financial performances with sales exceeding EUR 55 M and increasing operating margins.
With more than 35 years of experience, Velogic is the only company offering a one-stop-shop for transport and logistics services in Mauritius and benefits from a strong international presence through 300 trusted agents worldwide and 26 offices in 7 countries namely France, Madagascar, Singapore, India, Mozambique, Mauritius and Reunion. Velogic’s comprehensive offer includes sea and air freight forwarding, transport, agency and bulk shipping, container services and warehousing activities.
The company has successfully managed to adapt to changing trade and economic structure through diversification and geographic expansion. Today, Velogic ambitions to strengthen its positions in its current markets, improve its profitability by focusing on high margins activities and expand into Africa and Indian Ocean markets.
Amethis investment will support Velogic’s regional expansion. Amethis European and African network will be a key asset in identifying acquisitions targets and building strategic partnerships. Amethis will join Velogic board and will actively participate to the company’s strategy and governance.
Completion of the acquisition is subject to customary closing conditions.