Private equity fund acquires stake in Brookside

Davinder Sikand, Regional Managing Partner of Aureos Africa said the response from investors is that they see the fund as a better vehicle for investing in the continent without having to pay the kind of multiples needed to invest in the larger stock market listed companies.

“Our strong performance in Africa has been based on adding value to our investments by offering day-to-day and strategic help to the businesses we invest in. We have a very strong local presence,” he said.

The fund said its focus on small and medium-sized businesses is due to their becoming increasingly important players in domestic and regional markets across Africa.

Other companies the fund has invested in include a biscuit manufacturer and an insurance company in Nigeria, a cement maker in Senegal and a provider of building management, security and business software in Southern Africa, among others.