Amethis Exits Investment in Moroccan Logistics Leader Globex
Amethis, a prominent private equity firm, has successfully exited its investment in Globex, a leading integrated logistics and transport company based in Morocco. This exit marks the conclusion of a fruitful four-year partnership with Globex's founder and CEO, Omar El Kadiri, along with the dedicated management team. While the specific financial terms of the transaction remain undisclosed, the deal's completion is contingent upon customary conditions, including the necessary merger control clearance from the Moroccan Competition Council.
Amethis initially invested in Globex in 2022, with the strategic objective of aiding the company in its journey to become a top-tier provider of integrated logistics services within Morocco. Throughout their partnership, the private equity firm has closely collaborated with Globex's management to foster commercial growth, facilitate strategic acquisitions, enhance organizational development, and promote sustainability initiatives.
Founded in 1998 as an express delivery service operating under a FedEx license, Globex has significantly evolved into a comprehensive logistics platform that caters to both domestic and international trade flows. The company now offers a diverse range of services, including express delivery, freight forwarding, customs and transit services, chartering, warehousing, and road transport. Globex proudly serves a varied clientele through its expansive nationwide network.
A pivotal milestone in Globex's expansion occurred in 2024 with the acquisition of Logic Transport, which bolstered the company’s capabilities in business-to-business domestic and international road transport services. Amethis played a crucial role in this acquisition, supporting the institutionalization of the company by enhancing governance measures, improving financial reporting, and recruiting additional management talent.
Moreover, sustainability emerged as a critical aspect of the investment strategy, with Amethis facilitating carbon footprint assessments and the formulation of a comprehensive decarbonization roadmap. This roadmap includes initiatives aimed at fleet electrification, route optimization, and various energy efficiency measures.
Omar El Kadiri, Founder and CEO of Globex, emphasized the transformative impact of the partnership with Amethis over the past four years. He stated, "Our partnership with Amethis has been instrumental in Globex’s transformation over the past four years. Beyond providing growth capital, the Amethis team has been a true strategic partner, supporting us in executing our growth plan, completing the acquisition and integration of Logic Transport, strengthening our organization, and advancing our sustainability agenda." El Kadiri further noted that this collaboration has resulted in a more robust and resilient company, well-prepared for its next developmental phase.
For Amethis, this investment exemplifies its strategic focus on partnering with entrepreneurs to scale established businesses into larger regional platforms. Wilfried Poyet, Senior Partner at Amethis, remarked, "Our investment in Globex perfectly illustrates Amethis’ approach of partnering with ambitious entrepreneurs to build regional champions." He highlighted that the firm and Globex had successfully implemented a value creation strategy that combined organic growth, mergers and acquisitions, operational enhancements, organizational strengthening, and environmental, social, and governance (ESG) initiatives.
In less than four years, Amethis and Globex have successfully positioned the company as a national leader in integrated logistics. Founded by Luc Rigouzzo and Laurent Demey, Amethis is a member of the Edmond de Rothschild Private Equity Partnership and boasts a remarkable track record, having raised over €1.4 billion and completed more than 50 investments across Europe, Africa, and the Middle East. The firm operates from seven offices located in Paris, Abidjan, Casablanca, Nairobi, Cairo, Cape Town, and Luxembourg.
As reported by africaglobalfunds.com.
