Tunisian investment firm Ekuity Capital and asset manager United Gulf Financial Services-North Africa (UGFS North-Africa) jointly co-invested in the capital of Société moderne d'industrie plastique et d'emballage (Somipem), a Tunisian company specializing in the manufacture of caps and tops.

The amount committed by the two partners has not been disclosed, nor the shares acquired by them. This investment will finance the development of Somipem within borders and beyond.

Ekuity and UGFS North-Africa acquired their shares from Sodino, Univers Invest Sicar and CDC Gestion, which owned stakes in Somipem.

"This investment is fully in line with Ekuity Capital's strategy to support Tunisian SMEs with high potential in their development, and we are convinced that Somipem will be able to achieve its growth objectives," commented Mohammad Al-Nemah, Managing Director of Ekuity Capital.

Formerly engaged in the management of hotel assets, Ekuity Capital has recently diversified its activities and is interested in new promising sectors in Tunisia. The company currently holds stakes in about twenty companies.

Chamberline Moko