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Amethis MENA Fund II backs Magriser

Anna Lyudvig
March 23, 2021, 9:36 p.m.
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Word count: 392

Amethis has announced a majority investment via its Amethis MENA Fund II in Magriser, a leading player in micro-irrigation systems in Morocco. 

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Amethis has announced a majority investment via its Amethis MENA Fund II in Magriser, a leading player in micro-irrigation systems in Morocco. 

Laurent Demey, Amethis Founding Partner, said: "With Magriser, we realize the first operation of Amethis Mena Fund II, dedicated to SMEs in the region.” In total alignment with our convictions and strategy, we are very happy to invest alongside Simohamed Azzouz and to support an innovative approach for a sustainable management of the country's natural resources.”

Established in 1987, by Azzedine Azzouz, Magriser was one of the forerunners of the micro-irrigation technique in Morocco.

The Group offers today a full line of micro-irrigation equipment ranging from basins coverings, PVC and micro-irrigation pipes to filtration and fertigation systems.

In addition to its core business of distributing micro-irrigation equipment, Magriser diversified its product portfolio by offering solar pumping systems and completed its solutions offering by proposing consulting and installation of turnkey micro-irrigation systems.

In Morocco, a country affected by water stress, 70% of water use is agricultural.

Magriser helps farmers to reduce water input while improving agricultural productivity.

Magriser’s irrigation systems save 100 million m3 of water each year, the equivalent of the annual consumption of four million people in Morocco.

With Amethis support, Magriser is engaging in a new development phase, planing on launching its own production unit for micro-irrigation pipes by the end of 2021 and ambitions to expand its activities to Sub-Saharan Africa.

Wilfried Poyet, Amethis Investment Director, who led the transaction, said: “We are very proud to partner with a young entrepreneur who has proven his ability to achieve strong performances for several years in a strategic area for the kingdom.”

Simohamed Azzouz, CEO of Magriser, said: “One of the major challenges facing Morocco are water scarcity coupled with strong demographic growth. For over 30 years, Magriser has been providing micro-irrigation solutions that enhance agricultural productivity while reducing water consumption.”

“With the assistance of our resellers, we have participated in making this technological solution more democratic in Morocco. Our partnership with Amethis will help us to accelerate the deployment of irrigation systems in Morocco and in Africa.”

Salma Mekouar, Cross Partners’ Founder, acted as Financial Advisor and Global Coordinator of the transaction on behalf of Magriser. Dentons was the legal advisor of the Azzouz family while DLA Piper advised Amethis. PwC et Strategy& assisted Amethis on the financial, taxes and commercial due diligences.

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