CDC and CIC Capital back ONOMO Hotels with equity
ONOMO Hotels group is proud to announce the successful completion of a c. €106m equity fundraise attracting two new investors namely CDC Group plc and CIC Capital. Following the transaction, Batipart remains the controlling shareholder of ONOMO Hotels.
This transaction represents a significant milestone in ONOMO’s history demonstrating the success of its unique business model and service offering. By year end, ONOMO will be present in 8 countries with 10 hotels (Dakar, Abidjan, Libreville, Bamako, Lomé, Cape Town, Johannesburg, Durban, Conakry, Kigali) representing over 1,400 rooms. This new development chapter will enable ONOMO to expand its presence to new countries (Cameroon, Congo, Uganda, Mozambique, Ethiopia) and rapidly reach a balanced pan-African portfolio of over 20 business-oriented hotels offering quality service at an affordable price.
Commenting on the completion of this transaction Julien Ruggieri, President of ONOMO Hotels said: “We are delighted to welcome CDC Group and CIC Capital as new shareholders of ONOMO. Together we will provide the group with additional resources to develop our pipeline and expand quickly to achieve our ambition of making ONOMO Hotels the leading pan-African hospitality platform in the 3* segment”.
About ONOMO Hotels
ONOMO Hotels is an African 3* hotel platform targeting clients in the business segment. ONOMO Hotels offer a unique guest experience at an affordable rate in Africa, combining contemporary comfort with the African art of living, while ensuring tailored and state-of-the-art security and connectivity. ONOMO establishes itself in the business districts of the capitals and major gateway cities on the African continent.
After completing 3 new openings in Conakry, Kigali and Durban, ONOMO’s portfolio will comprise 10 hotels (representing c.1400 rooms) and a secured development pipeline across sub-Saharan Africa of over 1000 rooms in the Eco/midscale segment.
Batipart, founding investor of ONOMO, is a family office with a 30-year long track record in real estate investments and operating platforms in Europe, Canada and Africa. www.batipart.com
About CDC Group Plc
CDC Group plc is the UK’s development finance institution. Wholly owned by the UK Government, it invests in sub-Saharan Africa and South Asia with the aim of supporting economic development to create jobs. CDC Group plc has invested in Africa since its establishment in 1948. CDC takes a flexible approach and provides capital in all its forms, including equity, debt, mezzanine and guarantees, to meet businesses’ needs and achieve development impact. CDC has net assets of £4.8bn. www.cdcgroup.com.
About CIC Capital
CIC Capital, the international private equity arm of CM-CIC Investissement (the equity financing arm of the Crédit Mutuel CM11 Group), covers the needs of companies in all areas of equity financing. The company’s success is based on a pronounced focus on people, high professionalism, close ties with the management team and long-term support for portfolio companies. CM-CIC Investissement invests its own capital (€2.8 billion) in around 410 portfolio companies.
CM-CIC Investissement has expanded its international activities under the CIC Capital brand from its original base in Canada (Montreal) into Germany (Frankfurt), the USA (New York and Boston), the UK (London) and Switzerland (Geneva and Zurich). www.cmcic-investissement.com. Source: Press Release