• Amethis and Morocco’s Retail Holding acquire majority control of OCS
• Adenia Partners and Proparco exit after entering the group in 2021
• OCS operates in collective catering in Morocco and facilities management in Senegal

Overseas Catering Services (OCS), which operates in collective catering in Morocco and facilities management services in Senegal, has changed its shareholder structure following an acquisition by the Amethis–Retail Holding consortium.

Pan-African private equity firm Amethis and Moroccan group Retail Holding have acquired a majority stake in OCS. The transaction was announced on January 29. The financial terms were not disclosed.

The deal marks the exit of two investors, Adenia Partners and Proparco, the private sector arm of the French Development Agency. They joined the company’s capital in 2021. During their five-year investment period, OCS expanded its facilities management activities, notably through the acquisition of Artis in 2023.

“This acquisition fits fully into our external growth strategy, which aims to position us in high-potential markets by acquiring leading companies with solid foundations and complementary core activities, while creating synergies and increasing business volumes,” said Riad Laissaoui, chief executive officer of Retail Holding.

An industrial and regional strategy

With this transaction, Amethis completes its 16th investment in Morocco. The fund manager is active across several African countries, with a strategy focused on mid-sized companies. The two buyers have previously partnered on deals, including a 2019 transaction in Côte d’Ivoire in the food distribution sector.

The Retail Holding–Amethis consortium plans to support OCS in its next growth phase by strengthening its position in core markets. OCS operates in business- and industrial-site services, including collective catering, cleaning, maintenance, and building management. These segments are expanding alongside urbanization, infrastructure development, and the growth of industrial zones in West and North Africa.

Retail Holding’s entry could create operational links between OCS’s catering activities and the Moroccan group’s supply networks. Amethis brings access to financing and a portfolio of companies operating across multiple African markets.

Completion of the transaction remains subject to customary closing conditions, including regulatory approvals.

Chamberline Moko