Jacana Partners has made a disclosed investment in Process & Plant Sales Ghana. According to the company, the funding will be used for growth and expansion. PPS Ghana is a provider of industrial consumables and services to the mining and quarrying, construction and processing industries in Ghana and West Africa.
Jacana Partners has invested in Process and Plants (PPS) Ghana Ltd, a supplier of industrial products and services to the mining, construction and processing industries in Ghana. The investment will support the growth of PPS Ghana’s operations by increasing stock and product range and will finance the company’s expansion to other West African countries.
PPS Ghana was founded in 1998 by a Ghanaian entrepreneur with over 24 years’ experience in engineering and supply chain management. Its team of highly trained technical experts sell a wide range of products from the world’s leading industrial brands, enabling the company to meet its customers’ needs right across the supply chain. PPS Ghana operates from four locations across Ghana and currently employs over 50 people.
Rudolph Matey, CEO of PPS Ghana said: “This latest round of financing from Jacana demonstrates that a leading investor recognises PPS Ghana’s vision, value and the strength of our team. Thanks to the partnership, we will be able to achieve our business strategy of providing customers with a greater variety of high-quality industrial products and services that we can deliver more quickly and reliably than ever before. We are more determined than ever to become a leader in the industrial distribution market in West Africa.”
Kobina Nyantakyi, Operations Manager of PPS Ghana said: “The capital equipment, maintenance, repairs and operational requirements of the mining, oil & gas and general industrial sectors in West Africa provide a significant untapped opportunity for PPS Ghana. This funding will allow us to ramp up our sales and marketing activity, strengthen our leadership position in the field of industrial distribution and fulfil the growing needs of our customers. We chose Jacana because we needed a partner that could provide us with the capital to finance the next phase of our growth, but also provide value-add support in the management of the business, including improvements to our financial management, strategy and marketing.”
The investment marks the first project for Jacana’s partnership with EY Enterprise Growth Services (EGS), a non-profit EY programme that provides added value support to SMEs in emerging markets by deploying experienced consulting teams at heavily-subsidised rates. In the months leading up to the investment, Jacana has been working in partnership with EY EGS to improve PPS’ working capital management.
Christian Opoku-Biney, Partner at Jacana said: “The market for industrial consumables is growing rapidly in West Africa and PPS has an opportunity to expand throughout the region as the dominant local supplier for international companies. We have the knowledge and international contact network to support this growth. An example of the value-add Jacana brings to its portfolio companies is the hands-on financial support PPS has received from EY. By reducing the company’s cash conversion cycle, EY’s work will ultimately help PPS to release millions of dollars’ worth of capital back into the business. We are looking forward to working with EY’s EGS team to add value to more of our current and future investee companies in both East and West Africa.”
Jon Shepard, Director of EY’s Enterprise Growth Services programme said: “We are delighted to have partnered with Jacana and I look forward to supporting the important work the firm is doing for the under-served SME sector in Africa. Through EGS, EY is expanding a service that has so far been available only to larger clients. Our objective is to help these vital smaller businesses achieve lasting improvements in their productivity, profitability and growth potential, so they can continue to create jobs and increased access to goods and services in communities where they are most needed.”
About PPS Ghana:
PPS Ghana was founded in 1998 and has grown steadily to become a leading supplier of industrial consumables and services to the mining and quarrying, construction and processing industries in Ghana and West Africa. PPS markets over 100 products from 16 of the world’s leading industrial brands – more than any other local supplier in West Africa – enabling the company to meet its customers’ industrial needs right across the supply chain. PPS’ sales team are experts in their fields – trained engineers who appreciate their customers’ needs and understand the very latest innovations and technology to help increase their productivity. PPS engineers are trained twice a year in the latest technologies and innovations and its technical experts have over 90 years’ collective experience. PPS Ghana operates from four locations across Ghana and currently employs 50 people. For more information, please visit www.ppsghana.com
About Jacana Partners:
Jacana Partners is a pan-African private equity firm that invests in entrepreneurs, builds successful SMEs and delivers sustainable financial and social returns. We do this because we are passionate about entrepreneurs as the key drivers of job creation and long-term economic development in Africa. Jacana is uniquely structured to overcome the challenges of private equity investing in SMEs in Sub-Saharan Africa. Combining internationally experienced private equity veterans with highly skilled teams on-the-ground, Jacana has the experience, knowledge and resources to structure great deals, grow sustainable businesses and deliver superior returns. Jacana invests between $1-5 million in SMEs across a variety of sectors in six markets in West and East Africa (Ghana, Kenya, Liberia, Sierra Leone, Tanzania and Uganda). Jacana has committed $28 million to date in 23 portfolio companies, creating over 1,300 jobs. For more information, please visit www.jacanapartners.com.
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