Mediterrania Capital Partners (MCP), a private equity manager specialising in investments in North Africa and sub-Saharan Africa with more than €1.1 billion under management, has completed its exit from Akdital, Morocco's largest private healthcare group, marking the largest divestment in its 12-year history.
Through its third fund, MC III, MCP has raised €145 million from the sale of the last stake it held in Akdital, a company that debuted on the Casablanca Stock Exchange at the end of 2022, driven by the fund manager led by Albert Alsina.
Until a few weeks ago, Mediterrania still controlled 9.42% of Akdital's capital. This stake has been progressively divested on the Moroccan stock market. The last sale, corresponding to 5% of the capital, was executed in just a few hours.
MCP had announced its entry into Akdital in November 2019, acquiring 20% with the aim of supporting its expansion plan. Founded in 2011 by Dr Rochdi Talib, the company has experienced remarkable growth over the years.
Five and a half years after its initial investment, Mediterrania estimates that it has increased its capital sixfold. ‘Our partnership with Akdital demonstrates how a well-executed investment strategy can generate extraordinary impact and exceptional financial returns,’ says Albert Alsina. In the summer of 2024, following a capital increase, Akdital surpassed €1 billion in market capitalisation for the first time and is now very close to €2 billion.
When MCP became a shareholder, Akdital operated three hospitals and five 400-bed clinics in Casablanca. Today, the group has 35 hospitals, 2,300 beds and 7,000 staff, consolidating its presence throughout Morocco.
‘We are proud to have contributed to the development of one of the African benchmarks in private healthcare,’ adds Alsina. Mediterrania, with offices in Malta, Côte d'Ivoire, Casablanca, Cairo, Mauritius and Barcelona, is finalising the closing of its fourth fund, MC IV, worth €400 million, and has also recently completed the divestment of Dislog, a Moroccan consumer goods group.
New Fund investing in African Capital Markets
In parallel to the private equity investments that the fund manager carries out in Africa, the firm launched in 2024 for the first time a UCITS fund ‘Africa Select Equity Fund’ with a target size of €150 million focused on the purchase of shares of 20 to 25 African companies listed in Africa and other capital markets, and which in its first 9 months offers a return of more than 15%.
Operations and funds in Spain
In turn, Mediterrania has its own Spanish agenda where it has carried out, via Club Deals with trusted investors, several acquisitions since 2023 amounting to more than €25 million in Spain in the agricultural sector, including the purchase of Técnicas Sanjorge, a specialist in the manufacture of greenhouses, advanced irrigation systems and hydroponics, and from which it is promoting a reference build-up in the agricultural ecosystem.
Daniel Viñas, partner at Mediterrania and head of the fund manager's Spanish operations, says: ‘Our track record, both in Africa and in Spain, and especially after the exceptional performance of our investment in Akdital, puts us in an optimal position to consolidate our position as a very prominent operator in impact investing. We believe that this track record, together with the experience acquired on the platform in the Spanish agribusiness sector and another in the pipeline in the healthcare sector, is sufficient to enable us to consider an impact fund focused 100% on Spain and the great opportunities that these areas and the country offer.
FOR INVESTMENT ENQUIRIES PLEASE CONTACT:
Gonzalo Sivatte, Vice President, Investor Relations
gsivatte@mcapitalp.com
T. +34 606 960 782
FOR MEDIA ENQUIRIES PLEASE CONTACT:
Montserrat Petit
Head of Marketing and Communications, Mediterrania Capital Partners
T. +356 9914 7237 / +34 619 674 155
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