Amethis invests in VLH, major player of the hospitality and leisure sector in Mauritius
Amethis partners with Rogers Group to support VLH’s strategic development in Mauritius
Amethis, an investment fund manager dedicated to the African continent, acquires a stake in VLH, the hospitality subsidiary of Rogers Group, a listed company on the Stock Exchange of Mauritius.
Amethis’ investment will be mainly devoted to the projects of VLH as well as those of its leisure subsidiary, Island Living. These projects include the development of the Bel Ombre region through new leisure activities and accommodation offerings.
Through this transaction, effective as from 01 July 2019, Amethis contributes to the growth of Rogers Group’s hospitality activities and the diversification of its portfolio of activities and services, as well as its geographical footprint.
This transaction supports Rogers’ strategic positioning – to make VLH a model of sustainable tourism, reconciling economic, environmental and social requirements.
With nearly forty years of expertise in the hotel industry, VLH has seven hotels (946 rooms) in the upscale and mid-range segments operating under two brands: Heritage Resorts and Veranda Resorts. VLH has worked, through the Heritage brand, on the development of the Bel Ombre region, highlighting its cultural and historical heritage, in particular Heritage Le Château, as well as its natural heritage, with the protection of the lagoon and a Green Key certification. VLH employs 1,800 people and serves more than 50,000 customers a year. Island Living, its leisure subsidiary, offers sport and natural activities, such as those offered at Heritage Nature Reserve, renowned for its biodiversity.
“Having Amethis by our side will open up new opportunities for VLH, accelerating growth and consolidating Bel Ombre’s position as an exceptional destination,” said Philippe Espitalier-Noël, CEO of the Rogers Group. “Our collaboration with Amethis dates back to 2013, through the capital of Velogic, our subsidiary specialized in logistics. We are happy to be able to welcome them at VLH’s capital, as a sign of the trust that has been established between the partners over the years. »
Luc Rigouzzo, co-founder and Managing Partner of Amethis said: “Once again, Amethis is pleased to support the Rogers Group and its ambitious development strategy for Mauritius. We are proud to partner with VLH, which has been recognized for its commitment to the country’s sustainable development, promoting the protection of its biodiversity and highlighting its cultural heritage. »
Khady Koné-Dicoh, Investment Director at Amethis adds: “We are pleased to support the development of the VLH group. Capitalizing on its hotel expertise developed over nearly 40 years, VLH will be able to consolidate its position on the Mauritian market while maintaining the quality of its service and the originality of its positioning, and expanding its portfolio of hotels and leisure activities.”
About Rogers
Rogers is an international services and investment company with a strong regional presence through operations in 13 countries. Since 1899, the group has been a major player in Mauritius’ economic development and serves four markets: fintech, logistics, real estate and the hospitality sector. Rogers employs approximately 5,000 people and generates annual revenues of €237 million.
About Amethis
Amethis is an investment fund manager dedicated to the African continent, with an investment capacity exceeding €725m, founded in partnership with the Edmond de Rothschild Group. Amethis brings growth capital to promising midcap champions in a diversity of sectors throughout the African continent. As an active shareholder, Amethis offers key support and expertise through its international network, its opportunities of external growth and its value-added governance.
About Edmond de Rothschild
Edmond de Rothschild is an ambitious, independent family-run investment house founded in 1953, which specialises in private banking and asset management based on the idea that wealth should be used to create tomorrow’s world. In all its activities, the Group focuses on bold strategies and long-term investments which are rooted in the real economy – infrastructure, healthcare and impact investing. The Group has € 150 billion in assets under management, 2,700 employees and 32 sites worldwide as of 31 December 2018. It is also active in corporate finance, private equity and fund administration.