April 19 2023, David R Brown
Solevo, a leading African distributor of specialty chemicals sold by Helios to DPI-led consortium
The Solevo Group, a leading African distribution platform for specialty chemicals, has been acquired by Development Partners International ("DPI"), an investment firm focused on Africa, alongside minority co-investors South Suez and European development finance institution, DEG. The group of investors, led by DPI, have acquired 100% of the business from Africa-focused investment firm, Helios Investment Partners.
With Solevo firmly established as a leader in its markets, we are incredibly well placed for the next stage of our evolution: to become the go-to distributor of specialty chemicals in Africa
Joris Coppye
CEO of Solevo
Helios, alongside global investor Temasek, acquired Solevo in 2017 through the corporate carveout of Louis Dreyfus Company's African Inputs business, a leading global commodities merchant. Underpinned by 75 years of experience in Africa, Solevo has established itself as a trusted distribution partner for customers across the continent. With 23 distribution sites and a deep network across eight countries, Solevo has transformed itself under Helios' ownership into a leading distributor of specialty chemicals across life sciences and industrial segments.
Solevo offers a unique one-stop-shop for a range of inputs and chemicals including agriculture, also providing support for over one million small holder farmers, helping them to secure their livelihoods through increased yields and greater crop security, resulting in improved food security and climate resilience across Africa. Other life sciences segments include food and beverages, home and personal care, and industrial segments such as water treatment, mining and energy, construction, and packaging: all critical areas responsible for driving Africa's economic growth.
Joris Coppye, CEO of Solevo said: “With Solevo firmly established as a leader in its markets, we are incredibly well placed for the next stage of our evolution: to become the go-to distributor of specialty chemicals in Africa, serving critical sectors across the life sciences and industrial segments. By accelerating our digitalisation efforts and focusing on reaching new markets, we will empower more businesses, farmers, and communities across the continent.”
Babacar Ka, Partner at Development Partners International said: “Under Joris and his leadership teams' effective stewardship, Solevo has firmly established itself as a pan-African distribution leader, championing companies and local industries across the continent.”
About Solevo Group
Solevo is a leading African specialty chemical distributor established in 1918 and acquired by Helios Investment Partners and Temasek in 2017 from Louis Dreyfus Company (LDC). Solevo has a deep heritage with over 100 years in operations and has gained brand value through its La Cigogne brand, standing for reliability and quality.
The Group is locally present in eight countries and is the leading distributor of specialty chemicals operating across the Ivory Coast, Cameroon, Mali, Burkina Faso, Senegal, Angola, Ghana and Madagascar. Solevo distributes a wide range of chemicals in various life sciences and industrial segments varying from agricultural over food production, home and personal care, to construction and water treatment. In 2021 the Group reported revenues of EUR 317M and had around 360 employees.
Source(s): Solevo Group Press Rlease
Further Information
Visit: https://www.solevogroup.com