Scandinavian-backed private equity investment company, SPEAR Capital (Pty) Ltd , acquired 27% of Zimbabwe’s second largest dairy producer, Dendairy The deal, which was a combined debt/equity transaction, had a value of $6 million.
MNCapital Africa Advisors (“MNCAA”) was responsible for the introduction of the Dendairy opportunity to SPEAR and assisted SPEAR in its initial assessment of the opportunity.
Commenting on the transaction, MNCAA Managing Partner, Mr. Mansur Nuruddin, stated: “Our combined 100+ years’ experience in the industry has ensured that we have access to numerous funders and are a ‘go to’ partner for sourcing capital. Assisting in this transaction has enabled us to participate in the growth of a local Zimbabwean owned entity. The funding will go a long way to assist Dendairy’s expansion plans, and we are pleased to have helped to facilitate this growth.”
Mr. Martin Soderberg, a SPEAR Capital Partner, stated: “We are pleased that MNCAA brought the Dendairy transaction to us. We were impressed by their effectiveness and efficiency throughout the transaction. We trust our business relationship will grow into the future”.