AfricInvest Invests US$51 Million in iSON Xperiences with Gulf Capital, Commits US$14 Million to Les Centaures Routiers (Africa)
Posted On: 26 Nov 2018 | Source(s): AfricInvest
Alternative investment fund managers AfricInvest and Gulf Capital have invested US$51 million in iSON Xperiences, a Kenya-based outsourcing and customer service company. Through AfricInvest III and Gulf Credit Opportunities Fund II, the firms each provided US$25.5 million in structured debt and equity financing to support iSON’s growth and acquire shares from an existing investor. iSON serves clients across a range of industries in 14 countries in Sub-Saharan Africa and India. Separately, AfricInvest has provided EUR12 million (approximately US$14 million) in financing to Les Centaures Routiers (LCR), a Côte d’Ivoire-based freight transport and logistics services provider. LCR will use the financing to reinforce its fleet of 350 trucks, develop a new site that will consolidate its freight transport and logistics activities and meet working capital needs.