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CIP exits T2S to Helios

Africa Global Funds
Aug. 4, 2021, 9:56 p.m.

Word count: 455

CDG Invest PME (CIP), a Morocco-based private equity firm previously known as CDG Capital Private Equity, has agreed to sell a majority stake in Techniques Science-Santé (T2S), IM Alliance, Cyclopharma and Binarios, the largest and most diversified group of MedTech companies in Morocco, to funds managed by Helios Investment Partners.

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CDG Invest PME (CIP), a Morocco-based private equity firm previously known as CDG Capital Private Equity, has agreed to sell a majority stake in Techniques Science-Santé (T2S), IM Alliance, Cyclopharma and Binarios, the largest and most diversified group of MedTech companies in Morocco, to funds managed by Helios Investment Partners.

The closing of the transaction is subject to regulatory approvals and other customary conditions.

Established in 1992 by M. Abderraouf Sordo as well as other managers, Techniques Science-Santé (T2S), IM Alliance, Cyclopharma and Binarios is the largest diversified MedTech distributor in Morocco, with several footprints in West Africa. 

The Company is a combination of four entities: T2S, IM Alliance, Cyclopharma and Binarios. 

The Company has grown to become the leading medical equipment distributor and maintenance provider in Francophone Africa, generating revenues of approximately €100m in 2020.

Abderraouf Sordo, Founder and CEO of T2S, said: “Today’s milestone is a testimony of the amazing work done by the employees of the Group for the last 30 years, whose dedication and hard work enabled us to gain the trust of both our clients and our suppliers.”

“We are now partnering with Helios and are extremely excited about the next phase of our journey where we will continue our mission of enhancing the health care offering in the regions we serve. Over the last five years, our Company realised exceptional achievements and structural changes and we thoroughly enjoyed our experience with our private equity partners with whom we learnt a lot. I would like to extend our sincere thanks to our partners from CIP whose active implication helped us immensely in achieving the ambitious goals we set for ourselves.”

Through long-standing distribution agreements with leading Original Equipment Manufacturers (OEMs), the Group provides a diversified base of loyal customers with access to high-end MedTech equipment.

The Company has built a strong track record as a reliable partner by providing unique training, aftersales and maintenance support services, providing a strong base of recurring revenues.

Brahim Guessous, Partner at CIP, said: “We have been honoured to be part of this amazing five-year journey with T2S. This investment has exceeded all our expectations in terms of value creation and we are pleased to have contributed to the transformation of a national SME into the undisputed regional leader in the Med-Tech equipment sector.”

“We have enjoyed our intense partnership with M. Abderraouf Sordo and his team whose passion, vision and entrepreneurial spirit were key to the success of the Company.  This investment also enabled us to develop a unique expertise in the healthcare sector and we see plenty of investment opportunities to come in this field. Finally, we look forward to T2S’ bright future as it begins its new partnership with a new private equity investor.”

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