As Africa’s middle class continues to grow, private capital is finding opportunities for its service sector. Africa-focused private equity firm Adenia Partners invested in catering business OCS Group back in 2021, when it had operations spanning Europe, Africa, and the Middle East.
The firm would then consolidate OCS’s operations to Morocco and Senegal, while also diversifying into a broader facilities management offering.
Adenia Managing Partner Stéphane Bacquaert discusses investing in OCS during covid (1:10); why Adenia consolidated OCS’s operations (3:37); including offloading its UAE division (6:21); the importance of local expertise when investing in Morocco and Senegal (8:42); the barriers to entry for PE investment in Africa (11:08); and why OCS expanded beyond catering (14:28).
