PRESS RELEASE - Paris, July 19, 2012 - 6 pm
TOUAX
YOUR OPERATIONAL LEASING SOLUTION
TOUAX and ADP I announce that they have acquired a majority interest
in the leading Moroccan modular buildings firm
TOUAX and its financial partner ADP I (a fund specialized in investments in Africa and advised by DPI), announce that they have acquired a 90% majority interest in SACMI, the Moroccan market leader for modular buildings, as well as a 100% interest in RAMCO, a modular building leasing company affiliated to SACMI.
SACMI Group manufactures, sells and leases modular buildings in Morocco and Africa. It has 180 employees and annual revenue of almost €15 million. SACMI is the market leader in Morocco and has a varied range of products, including administrative, industrial and worksite buildings, site facilities and telecom shelters. Its customers include local authorities and leading industrial companies, particularly in the telecom and construction sectors.
TOUAX and ADP I are carrying out the acquisition through TOUAX AFRICA, a company set up recently to develop the modular buildings business in Africa, in which TOUAX has a majority interest and ADP I (active financial partner for Africa) has a significant minority interest. TOUAX AFRICA is partly financing this acquisition by loans from Moroccan banks. SACMI and RAMCO will be fully consolidated in the accounts of Touax from 01/07/2012.
This operation is fully in line with the Group's strategy to develop its business in emerging countries. "We are delighted with this acquisition which will enable Touax to expand its business in the Africa zone where there is strong demand for modular buildings" comments Christophe Boustouller, Managing Director of TOUAX Modular Buildings.
The TOUAX Group provides its operational leasing services to a global customer base, both for its own account and on behalf of investors. TOUAX is the European leader in shipping containers and river barges, and no. 2 in modular buildings and freight railcars (intermodal railcars). TOUAX is well positioned to take advantage of the rapid growth in corporate outsourcing of nonstrategic assets and offers efficient and flexible leasing solutions to more than 5,000 customers daily.
African Development Partners I, LLC and ADP I L.P. (ADP I) is a specialized investment fund for Africa advised by Development Partners International LLP (DPI). DPI, which is based in London, is one of the leaders in the private equity industry in Africa, specialized solely in identifying, carrying out and managing private equity investments throughout Africa.
TOUAX is listed in Paris on NYSE EURONEXT - Euronext Paris Compartment C (Code ISIN FR0000033003) and on the CAC® Small and CAC® Mid & Small indexes and in SRD Long-only.
Contacts:
TOUAX
Fabrice & Raphaël Walewski
Managing partners
Tel: +33 (0)1 46 96 18 00
ACTIFIN
Jean-Yves Barbara
Tel: +33 (0)1 55 88 11 11
