Apis Partners Completes Full Exit from Baobab
Deal News | Feb 11, 2025 | Apis Partners LLP
Apis Growth Fund I, managed by Apis Partners, a UK-based private equity firm, has agreed to sell its stake in Baobab, an African financial services provider, to Beltone Capital, a subsidiary of Beltone Holding, a financial services provider listed on the Egyptian Stock Exchange. This transaction marks a strategic exit for Apis Partners, as they have been instrumental in implementing various growth and efficiency initiatives at Baobab, focusing on technology upgrades and management restructuring. These efforts have positioned Baobab as a leader in supporting SMEs across seven African markets. Beltone aims to continue expanding Baobab's market presence and client base following the acquisition. The deal, advised by Enexus Finance, awaits regulatory approvals.
Sectors
- Private Equity
- Financial Services
- Technology
Geography
- United Kingdom – Apis Partners is headquartered in the UK, indicating the geography of one of the key companies involved.
- Africa – Baobab operates across seven African markets, underlining the geographic focus of its operations.
- Egypt – Beltone Holding, the acquiring company, is listed on the Egyptian Stock Exchange, making Egypt a significant geography.
Industry
- Private Equity – Apis Partners is a private equity firm managing growth investments, highlighting the private equity industry's role.
- Financial Services – Baobab operates within the financial services sector, specifically serving SMEs in Africa.
- Technology – The technology industry is relevant due to the emphasis on digital products and technological infrastructure upgrades at Baobab.
Financials
- US$2.3 billion – The total assets under management (AUM) for Apis Partners.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Apis Partners LLP | Private Equity Firm / Seller | Company | A UK-based private equity firm managing the Apis Growth Fund I. |
| Baobab | Target Company | Company | An African financial services provider focusing on SMEs. |
| Beltone Capital | Acquirer | Company | A subsidiary of Beltone Holding, acquiring the majority stake in Baobab. |
| Beltone Holding | Parent Company | Company | An Egyptian financial services provider listed on the Egyptian Stock Exchange. |
| Enexus Finance | Financial Advisor | Company | The firm advising on the transaction. |
| Matteo Stefanel | Co-Founder and Managing Partner at Apis Partners | Person | Responsible for overseeing the strategic exit from Baobab. |
| Udayan Goyal | Co-Founder and Managing Partner at Apis Partners | Person | Involved in the strategic decisions of the exit. |
| Dalia Khorshid | Group CEO and Managing Director of Beltone Holding | Person | Overseeing Beltone's acquisition strategy and expansion in African markets. |