(Ecofin Agency) - British firm Actis bought from Africinvest and Boujbel a significant share in pharmaceutical group Medis Group, which is present in Tunisia and Algeria. While Boujbel founded the group, Africinvest is for its part an investment firm with multiple assets in Africa.

Actis should inject additional capital in the group to acquire and develop other production units as it aims to make Medis one of the largest pharmaceutical groups of Africa and the Middle East.

Overall, Africinvest’s adventure with Medis Group has been productive given that from a simple idea, it grew into one of Africa’s largest generic drugs manufacturers.

Besides helping it grow, the pharmaceutical group indeed allowed Africinvest to achieve its goals in terms of financial returns. “Africinvest achieved its goals in terms of financial returns which fully met the expectations of its shareholders,” said Azziz Mebarek, founding partner of Africinvest. “We are happy to continue the adventure with Actis which is one of Africa’s most respected private equity investors,” he continued.