Helios Investment Partners generated approximately $460 million in realised liquidity in 2025 following multiple exits, including the listing of portfolio company T2S Group on the Casablanca Stock Exchange.

The T2S initial public offering raised MAD 1.1 billion, approximately $120 million, and valued the Moroccan medical technology company at around MAD 4.9 billion, or $520 million.

The offering was 44 times oversubscribed, attracting demand from Moroccan and international investors. Helios remains T2S’ largest shareholder following the IPO, retaining a 42% stake.

T2S has more than 30 years of operating history and has developed into an integrated MedTech platform spanning medical equipment distribution, manufacturing, digital systems and technical services. The company serves healthcare providers in Morocco and other African markets.

Helios invested in T2S in 2021. Since then, four complementary businesses have been integrated into a single platform, alongside investments in governance, management, operations, technology and commercial capabilities.

The expansion has broadened T2S’ activities across the healthcare value chain, including equipment distribution, technical support, maintenance and specialised medical technologies.

The company has also invested in radiopharmaceutical capacity and local engineering and technical capabilities as it expands its role in Morocco’s healthcare sector.

The Casablanca listing provides T2S with access to public market capital as the company seeks to expand its operations in Morocco and other African markets.

For Helios, the transaction provides a partial liquidity route while allowing the private equity firm to maintain a significant ownership position in the company.

The T2S transaction formed part of a broader period of portfolio realisations for Helios, which generated approximately $460 million in realised liquidity during 2025.

Helios said the realisations reflect its strategy of developing portfolio companies to a scale and level of institutionalisation capable of attracting additional pools of capital.