Mauritius’ sugar major Terra Mauricia continues its international expansion with 27% acquisition of the Kenyan company Terravest for an investment of USD 4 million, or MUR 120 million.
Active in the sector of sustainable development, Terravest markets mainly plastic equipment such as water tanks, rainwater collection tanks, mobile toilets and processors for biomass producers of gas and septic tanks.
According to Sébastien Mamet, Strategic Development Executive at Terra, this partnership with Terravest will allow the group to widen its international expertise.
He added that the Kenya-based company is well positioned in several countries and is represented by brands such as Kentainers and Crestanks, which are the biggest players in the domain, and sometimes are sole providers in their markets.
Established by the Shah family 15 years ago, Terravest possesses four factories and a warehouse, distributed through several African countries among which feature Kenya, Uganda, Rwanda, South Sudan and Burundi.
Terravest contributes to the economy of these countries but needs help in the management of its development projects.
Nikhil Shah from Terravest said that they were in search of a long-term partnership with a company, which shares their vision and their passion for investment in and the growth of the African region.
“The positive approach of Terra, its willingness to listen and its commitment to invest time and money in our company for the future, make this group an ideal partner for us,” Nikhil Shah mentioned.
He added that they are looking forward to combine their strengths and their synergies so that their new projects come to light.
The association with Terra has its objectives as contribution of its expertise in financial management, finance and good governance.
Besides, in addition to its contribution in this respect, Terra will also invest directly in Terravest, to participate in the development of the Kenyan company and help it execute its projects.
For the coming years, three main objectives of development were identified. In the short term, Terravest wishes to widen its operations in Ethiopia and in Zambia.
In the medium term, it wishes to take up selling of prefabricated housing that will be equipped with solar panels and with rainwater collection tanks to the inhabitants of isolated regions at moderate prices.
Finally, the third project is to provide for India’s sanitary needs with the installation of mobile toilets.
The common vision across these projects is to allow the largest number of people to have access to these basic infrastructural frameworks, while favouring their energy autonomy.
Among its important clientele, Terravest counts a number of NGOs (Non-Governmental Organization) which work along the same lines in Africa.
Image (Terra): Nikhil Shah and Cyril Mayer, Managing Director of Terravest and Terra respectively.
More business news on AfricaMoney
Facebook Comments