Solevo Group (“Solevo”), a leading African distribution platform for specialty chemicals, today announced its acquisition by Development Partners International (“DPI”), an investment firm focused on Africa, alongside minority co-investors South Suez and European development finance institution, DEG.
The group of investors, led by DPI, are acquiring 100% of the business from Africa-focused investment firm, Helios Investment Partners (“Helios”). All regulatory approvals for the transaction have been approved and the deal closed on 18 April 2023.
Helios, alongside global investor Temasek, acquired Solevo in 2017 through the corporate carveout of Louis Dreyfus Company’s (“LDC”) African Inputs business, a leading global commodities merchant. Underpinned by over 75 years of heritage and brand recognition in Africa, Solevo has established itself as a key enabler in the continent’s drive for agricultural self-sufficiency and the stimulation of local…
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