In the latest deal for its €96 million Fund III, Mauritius-headquartered private equity firm Adenia Partners is taking an undisclosed stake in Opham, a pharmaceutical products wholesaler in Madagascar. A family office and Dutch Development bank FMO invested alongside Adenia in the deal.
The capital will be used to expand Opham’s operations, which currently distributes more that 4.500 specialty and generic products to pharmacies and hospitals in Madagascar, and improve access to affordable, high-quality pharmaceutical products for the country’s consumers.
Adenia Partners manages three private equity funds with a combined total of $200 million in assets. According to the firm’s website, the first two funds are now fully invested. Along with the directors and senior managers of Adenia, LPs in Adenia Capital (III) include European Investment Bank, the International Finance Corporation, Swedfund, FMO, BIO, CDC, DEG, the Sugar Industry Pension Fund of Mauritius, Kuramo Capital Management and BNP Paribas.
In August 2015, Adenia Partners announced the launch of its fourth fund, a €200 million generalist fund that will target control transactions in mid-market companies that have an enterprise value of between €5 million and €30 million across the region.