Finance

London-based private equity invests $35 million in the African facility management service

London-based private equity invests $35 million in the African facility management service
Tuesday, 26 February 2019 18:32

International Facilities Services (IFS), which provides facility management services in 16 sub-Saharan African countries, received a $35 million boost.

The investor is the London-based private equity Development Partners International (DPI) that announced this investment made out of its African Development Partners II. The funds provided should help fund IFS’ growth strategy in new markets while bridging its short-term cash flow needs.  

 “I am delighted to partner with DPI for the next phase of IFS’ growth as they work alongside us to unlock our full potential, with the capital provided through this investment allowing us to more aggressively pursue expansion of our business. I am excited to have found a partner that is focused on supporting us by investing in our strategy and people, enabling us to continue to deliver outstanding service for all our clients,” Chris Wells, CEO of IFS, commented.

Via its two African Development Partners funds, the British private equity has invested in 27 African countries. It is present in the portfolio of nineteen firms in 15 sectors. Its entrance in IFS’ capital falls in line with its strategy to invest in high-growth potential sectors in the continent.

In its Global Facilities Management Market Report 2018, Stratistics MRC reveals that the facility management market reached $17.6 billion in 2017. Egypt, South Africa and Nigeria were the bulk of that market but other countries are eyed by investors due to the future infrastructure investment prospects in the mining sector.

Chamberline Moko

On the same topic
BEAC granted Afreximbank the first-ever foreign access to the CEMAC public securities market. Cameroon raised $359.3 million via a...
(EBID) - The Board of Directors of the ECOWAS Bank for Investment and Development (EBID) held its 92nd Ordinary Session on June 30, 2025. The Board...
• The IMF approved a $261.9 million disbursement under DR Congo’s credit program• Economic growth hit 6.5% in 2024, driven by the extractive sector•...
• Ghana’s Parliament approved a $360 million loan from the World Bank’s IDA• The funds will help pay road sector arrears, support vulnerable groups,...
Most Read
01

Lebara Group is now bringing its affordable and reliable mobile services to Africa, starting with Ni...

Telecoms: Lebara Enters Nigerian Market with Strong Competitive Ambitions
02

Transport and food prices have been climbing steadily across Africa in recent years. In Côte d’Ivoir...

Côte d’Ivoire’s Fuel Price Cuts Haven’t Slashed Transport Costs–Yet
03

• BOAD releases CFA10 billion ($17.8 million) to support Boungou and Wahgnion gold mines.• Burkina F...

BOAD Grants CFA10 Billion to Revive Boungou and Wahgnion Gold Mines in Burkina Faso
04

In a West African financial landscape marked by tighter regulation of the fintech sector, digital fi...

In Five Years, Francophone Africa Will be A Major Force in African Tech –Régis Bamba
05

• Maritime sector faces renewed risks amid military tensions in the Middle East• Blockade fears at S...

Israel-Iran conflict raises new threats for global shipping and oil trade
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

Benjamin FLAUX
bf@agenceecofin.com 
Téls: +41 22 301 96 11 
Mob: +41 78 699 13 72
Média kit : Download

EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.