CDG Capital exits Jet Contractors through Casablanca Stock Exchange sale
With an investment return of 3.3x, CDG Capital Private Equity has announced its total exit from Jet Contractors through a sale on the Casablanca Stock Exchange.
“CDG Capital Private Equity has contributed to the organic and structural development of Jet Contractors and has supported its integration of most of the value chain to become one of the leading national players in building construction with strong architectural component,” said Omar Tadlaoui General Manager of Jet Contractors, adding, “Since then, Jet Contractors has been able to reinvent itself continuously; From a façade specialist, we now become an integrated group operating in several complementary and related fields of activity.”
During CDG Capital Private Equity’s holding period, Jet Contractors’ turnover has increased from 240 million MAD in 2009 to over 1.2 billion MAD today and the number of employees has increased from 400 in 2009 to more than 1200 employees to date. This performance is thanks in particular to the coalition of several key success factors: the expertise of its employees, the attention allowed to its partners and customers, the spirit of innovation and its will to always improve its know-how.
Commenting on the exit, Hassan Laaziri, CEO of CDG Capital Private Equity, said: “Our experience with Jet Contractors is an excellent illustration of our philosophy which has contributed to company’s business growth and the dynamism of financial market by preparing for its IPO. Jet Contractors’ sustained growth is the result of a clear and ambitious strategy, visionary management and effective governance. We are confident in the success of the strategic choices initiated by the Group since 2013 and also in the continuation of the current national momentum.”
About CDG Capital Private Equity
Established in 2001, CDG Capital Private Equity is a private investment fund has raised more than EUR130mn to date from institutional investors. CDG Capital Private Equity manages a family of funds focused on private equity investing in Moroccan and African SMEs. It commits capital to various types of investments, namely growth capital, transmission capital, leveraged buyouts and management buyouts. CDG Capital Private Equity has completed 15 investments and has already exited 10 of them in a wide variety of sectors, from agribusiness to industry and services. Source: AVCA