CAURIS CROISSANCE COMPLETES A SALE OF ITS STAKE IN SOCIETE TOGOLAISE DE DISTRIBUTION DE GAZ (SODIGAZ)
Cauris Croissance, the second fund managed by Cauris Management, a West African private equity fund management company, has confirmed the sale of its stake in SODIGAZ to the promoters and majority shareholders of this company. The investment made in June 2009 generated an overall IRR of 34.89% and generated a cumulative return on investment of 6.1 times the initial amount invested.
Presentation of SODIGAZ
SODIGAZ is a butane gas bottling company in Togo. Cauris Croissance’s investment has made it possible to build a butane gas filling centre to meet major unmet demand for this product. During the investment period, Cauris Management has:
- contributed to staff capacity building by connecting the company with another portfolio company in the same sector of activity for training;
- assisted senior management in its initiatives to improve the company’s performance and in monitoring its strategic development plan;
- advised the company in the context of the debt issue related to its development project.
Collection of Cauris Management following the sale
Noël Yawo Z. Eklo, CEO of Cauris Management, commented on the event:”This partnership, initiated a few years ago with well-informed promoters and managers who have assumed responsibilities within international oil companies, has enabled this start-up to quickly become the leader in its sector. We remain confident about the future and the potential of SODIGAZ, which should continue to grow and become one of the jewels of the national and sub-regional industry “.