Mediterrania Capital Partners, the regional private equity firm focusing on growth investments for companies in North African and sub-Saharan countries, announces the acquisition through its second fund, Mediterrania Capital II, of a stake in MedTech Group, Morocco’s leading IT business system integrator incorporating solutions from corporations such as Oracle, Microsoft, NCR, Alcatel-Lucent, Cisco, EMC and IBM.
With 25 years of experience in the IT industry, nowadays MedTech is operating in the software, hardware and middleware infrastructure, payment solutions, and telecom and network systems sectors in addition to its historical horizontal and vertical Enterprise IT solution integration business. As well as serving clients in Morocco, MedTech also has a strong presence in France, Benelux and sub-Saharan Africa.
Over the past three years, MedTech has conducted a proactive acquisition strategy, acquiring several companies with the objective of widening its portfolio of added value services. The group recently acquired a significant stake in S2M, the leading electronic money solution provider in Morocco, which is listed on the Casablanca Stock Exchange.
Through these acquisitions and its continued focus on R&D, MedTech aims to become a major player in the rapidly growing Fintech industry in Africa.
Mr. Hatim Ben Ahmed, the Partner in charge of the transaction on behalf of Mediterrania Capital, declared: “We are very excited about the potential of MedTech Group. Medtech’s leading position combined with its full offer of integrated IT business solutions, place the group in the ideal position to capture the expected market growth in Morocco and the rest of Africa.”
With this additional investment, the fund Mediterrania Capital II directed by Mr. Albert Alsina, establishes an important diversification of sectors and countries. MedTech Group is the sixth investment of Mediterrania Capital II, after investments in companies in the retail clothing industry (BS Invest), money transfer (Cash Plus), truck manufacturing (C.E.C.I.), car rental (Cieptal Cars), and production and distribution of pasta (Randa) in Morocco, Algeria and Tunisia. Source: AVCA