LOCAL private equity firm Eos Capital has acquired a majority stake in Namibian manufacturer Elso Holdings, the first such investment on behalf of the firm’s Allegrow Fund.
The acquisition is subject to approval from the Namibian Competition Commission. Eos Capital said yesterday that it aims to expand Elso Holdings Namibia and place the existing enterprise’s environmentally friendly, biodegradable products within reach of more Namibians and those within the Southern African Development Community region.
Eos Capital’s N$450 million Allegrow Fund mandate is inves¬ting in companies which have the potential for rapid growth through the right capital and strategic support.
Source: The Namibian