- Solevo is headquartered in Geneva, Switzerland
- DPI-led group of investors has acquired 100 percent of the company from Helios Investment Partners
- Helios, alongside Temasek, acquired Solevo in 2017
Development Partners International (DPI) has acquired Solevo Group, an African distribution platform for specialty chemicals, alongside minority co-investors South Suez and DEG.
The deal has an overall value of $250 million (€228.7 million), which includes the buyout plus some debt funding, PE Hub Europe understands.
Solevo is headquartered in Geneva, Switzerland.
DPI-led group of investors has acquired 100 percent of the company from Helios Investment Partners. The deal was completed on 18 April 2023.
Helios, alongside Temasek, acquired Solevo in 2017 via the corporate carveout of Louis Dreyfus Company’s (LDC) African Inputs business.
“It consistently achieved double digit annual operating profit growth rates driven by revenue growth and margin expansion,” said Nimit Shah, partner at Helios Investment Partners.
Helios is an Africa-focused private investment firm. The firm has over $3.0 billion in assets under management and is led and managed by a predominantly African team based in London, Paris, Lagos, and Nairobi.
DPI is an Africa-focused private investment firm with more than $3 billion in assets under management. The firm is based in London.
DPI was advised by Norton Rose Fulbright as legal counsel, BNP Paribas as financial advisors, PWC acting as financial due diligence and DLA Piper providing legal due diligence advice.