(Ecofin Agency) - Africinvest, which entered Outsourcia’s shareholding in 2016 will cede its stakes to SPE Capital, making the new investor the majority shareholder. 

Private equity firm SPE Capital recently acquired a majority stake in Moroccan customer care outsourcing giant  Outsourcia. The US$33 million deal was announced today, May 19. 

The transaction was executed through SPE Capital’s AIF I investment fund dedicated to small and mid-cap North African companies. 

The stakes to be acquired by SPE Capital are currently owned by AfricInvest, which spent six years in Outsourcia’s shareholding. 

According to Outsourcia’s CEO Youssef Chraibi, the new investment opens a new chapter in the investee’s development. It will accelerate organic and external growth in Europe and Africa, he added. 

The proposed deal was made known to the Competition Council on April 23. It will be finalized once the required approvals are granted. 

For SPE Capital, Outsourcia is on a “remarkable growth trajectory” in a buoyant sector. It not only meets firms’ increased outsourcing needs but also helps address unemployment problems. 

In the release announcing the deal, Outsourcia praised the six years spent by Africinvest in its shareholding. For the Moroccan group, Africinvest contributed to the acceleration of its organic and external growth, allowing the continuous improvement of Outsourcia's offer and the reinforcement of its international presence, especially in France and Madagascar. 

Chamberline Moko