Casablanca, 9 December 2022 –
Amethis is pleased to announce the acquisition of a minority stake in the Globex Group, a major player in express courier, freight and transit solutions in Morocco and sub-Saharan Africa.
Founded in 1998 in Casablanca, Globex operates in express courier, freight, transit and storage solutions in Morocco and sub-Saharan Africa (Senegal and Cameroon), under the Fedex Express brand. The Group holds Fedex Express, Trade Logistics and TNT licenses. The group also holds several licences from the customs authorities in Morocco and sub-Saharan Africa.
In more than 20 years of existence, the group has established itself as a reference player in the field of express parcel shipping, freight and transit, and offers its customers competitive and guaranteed delivery times to/from more than 220 countries thanks to the vast network of FedEx World from which it benefits. FedEx is the world’s second largest express carrier with consolidated revenues of more than USD 60 billion and a global market share boosted by the acquisition of TNT in 2016.
Through this investment, Amethis wishes to support Globex in strengthening its position as regional leader by identifying several growth drivers in the short and medium term in order to improve its margins and consolidate its market share. These relays include several strategic axes, such as the creation of a logistic platform in Morocco – which would become, in the current context of reinforcement of South-South exchanges, a hub for Africa – the development of the freight activity in Morocco, the improvement of competitive advantages (delivery times), as well as the development of activities in Senegal and Cameroon.
Omar El Kadiri, Chairman and CEO of Globex, declares: “We are delighted to welcome Amethis to our side to start the expansion of Globex in Morocco and sub-Saharan Africa; its entry into the capital comes at the right time to support us during this phase of growth and thus achieve our ambition to become a key regional player in express transport and logistics.”
Wilfried Poyet, Partner at Amethis, in charge of the operation, declares: “This is a new achievement for Amethis in Morocco. We are proud to be associated with an entrepreneur like Mr. Omar El Kadiri, and happy to accompany him in the development of his strategy which is fully in line with the one developed by the Kingdom“.
BDO Maroc and Coram Africa acted as financial advisors and coordinators of the transaction on behalf of Globex. The firm of Ms. Oulamine and Mr. Dami acted as legal advisors to Globex while DLA Piper advised Amethis. Accuracy, Efeso, Mazars and Ibis assisted Amethis in the financial, operational, tax and ESG due diligence respectively.
Founded by Luc Rigouzzo and Laurent Demey and member of the Edmond de Rothschild Private Equity Partnership, Amethis is an investment fund manager focused on the African continent, with assets under management close to USD 1 billion and more than 30 investments completed to date. Amethis provides growth capital to promising mid-market champions in a variety of sectors, offering growth support through its international network covering Europe and Africa. With six offices in Paris, Abidjan, Casablanca, Nairobi, Cairo and Luxembourg, the Amethis team comprises over 45 experienced professionals with strong regional and sectoral expertise. www.amethis.com
About Edmond de Rothschild Private Equity
Edmond de Rothschild Private Equity is an independent player within the Edmond de Rothschild Group and manages over EUR 3 billion in assets under management. With an entrepreneurial approach to finance and supported by strong convictions, Edmond de Rothschild Private Equity builds and develops differentiating investment strategies that provide a sustainable response to environmental and social issues.
Founded in 1953, Edmond de Rothschild currently has CHF 178 billion in assets under management, 2,500 employees and 32 offices worldwide.