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News > Private Equity > Deals

DPI makes fifth investment in Morocco

Staff writer
Oct. 26, 2018, 9:13 p.m.
981

Word count: 322

Development Partners International, a Pan-African private equity firm with over $1.1bn of assets under management, has invested in UNI CONFORT MAROC - Dolidol, Morocco’s and Ivory Coast’s leading manufacturer and distributor of foam, mattress and bedding products.

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Development Partners International, a Pan-African private equity firm with over $1.1bn of assets under management, has invested in UNI CONFORT MAROC - Dolidol, Morocco’s and Ivory Coast’s leading manufacturer and distributor of foam, mattress and bedding products.

The investment was structured through African Development Partners II (ADP II).

Under the agreement, ADP II has acquired a stake of just over 20% in Dolidol from the company and its existing shareholders, for a total amount of approximately $30m.

Founded in 1972, Dolidol is one of the oldest mattress manufacturers in Morocco and a leading player in the industry. 

The company produces, manufactures and sells polyurethane foam, mattresses, sofas and non-woven textiles. 

As a household brand, the Company is synonymous with high-quality products and customer service. Dolidol recently expanded its geographical footprint to Ivory Coast and is now the market leader in manufacturing and distributing mattresses into Francophone West Africa.

The partnership with DPI will allow Dolidol to reinforce its market leading position in Morocco, further leverage the strong growth prospects of its various business segments and execute its Sub Saharan Africa expansion strategy with an emphasis on West Africa.

Sofiane Lahmar, DPI Partner, said: “We are very excited to invest in such a strong household brand as Dolidol. In addition to the strong growth prospects and profitability of the existing business segments, we believe there is a significant opportunity to help accelerate its expansion into other regions across the continent.” 

“DPI is committed to making investments in Morocco, with Dolidol marking our fifth investment in the country, totalling c.$230m across all five. We look forward to working alongside B.Group, a first-class partner, in addition to Dolidol’s excellent management team.”

Jalil Skalli, CEO of Dolidol, added: “This capital increase will allow us to further consolidate the institutionalisation of the firm.”

Naciri & Associés Allen & Overy and Deloitte advised DPI on the transaction, whereas West Capital Partners and Dentons advised Dolidol.

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