Mediterrania fund II hits first close of $141.6 mln

Mediterrania Capital Partners announced Friday an interim close of Mediterrania Capital II, its second Growth fund for North Africa, at €115.3 million (US$141.6 mln). Fund II has a target size of €120 million (US$147.4 mln). Mediterrania said a final close of €150 million (US$184.2 mln) is planned for March 2015. Mediterrania Capital focuses on making African and mainly North African growth investments.

PRESS RELEASE

19th December, 2014, Malta / Barcelona. Mediterrania Capital Partners (“MCP”), the regional Private Equity firm focusing in Growth investments for SMEs, announces today an interim close of Mediterrania Capital II (“MC II”), its second Growth fund for North Africa, at €115.3 m. This closing is near to the target fund size of €120 m and comforts MCP in its objective to reach a final close at €150 m planned for March 2015.

Three new commercial investors have been key to reach this interim close. Additionally, two of the first close investors have strengthened their interest by granting MC II with additional financial commitments. This is a proof of the trust that LPs have developed on the MCP team over the past years.

Mr. Albert Alsina, MCP Managing Partner and CEO, declared: ”With this additional commitment, we further diversify and strengthen our investor base in terms of geography and investor type. We are very proud of this outcome and look forward to welcoming new investors in our Fund.”

Consistent with its strategy, MCP continues to seek growth opportunities in the Maghreb region – Morocco, Algeria and Tunisia, with potential expansion into Africa Sub-Saharan countries. MCP searches SMBs with an enterprise value of €10 m to €50 m and with expansion strategies into North Africa and Sub-Saharan African markets.

“MC II, our second fund managed by Mediterrania Capital Partners, is the continuation of the great work performed by the team. With the second fund investors, we are able to execute larger transactions (up to €40 m) as we offer co-investments rights to our existing investors.”, Mr. Albert Alsina concluded.

MC II already completed two deals in acquiring 49% of Cash Plus, a Moroccan company active in the financial services sector, in July; and 45% of C.E.C.I., an industrial vehicles manufacturer of trucks and trailers leader in Morocco and Algeria and expanding in the region, in November of the current year.

MC II continues to receive interests from African, European and American investors.

Background

Mediterrania Capital Partners, MCP (www.mcapitalp.com), is a dedicated private equity firm focusing in African and mainly North African growth investments in SMEs and mid cap companies. MCP started its operations in 2008 under “Fons Mediterrania Capital”.

With offices in Barcelona, Casablanca, Tunisia, Algiers and Malta, MCP takes a very intense hands-on and proactive approach to implementing its growth strategy, by leading the governance of the companies and driving the key internal value creation process. The partners of MCP have extensive experience in managing companies including commercial experience, strategy formulation, finance and operations.

MCP is a regulated financial investment manager, licensed by the MFSA, in Malta. Mediterrania Capital II is also a MFSA regulated PE Fund. Cuatrecasas is acting as legal adviser for MCP. S.O. Capital Advice (www.socapadvice.com) is acting as global placing agent for MC II.

For more information, please contact communications@mcapitalp.com or nchaouat@socapadvice.com.