Industrial Gas: Adenia Partners buy 12 African subsdiaries from Air Liquide, including the one in Togo

Energy
Monday, 18 March 2024 16:23
Industrial Gas: Adenia Partners buy 12 African subsdiaries from Air Liquide, including the one in Togo

(Togo First) - Last week, Adenia Partners announced it has acquired 12 subsidiaries of Air Liquide, a French industrial gas group. Adenia, a Mauritius-based private equity firm, indicated that the businesses acquired are spread across West and Central Africa. Togo is included.

Established in Togo in 1970, the French company Air Liquide supplies a range of industrial and medical gases, based on fundamental molecules such as oxygen, nitrogen, and hydrogen. The multinational also designs fluid distribution systems for the medical and laboratory sectors and offers welding and cutting solutions.

The purchase is a prelude to the formation of an independent industrial gas group. The 12 countries hosting the subsidiaries are Benin, Burkina Faso, Cameroon, Congo, Côte d'Ivoire, the Democratic Republic of Congo, Gabon, Ghana, Madagascar, Mali, Senegal, and Togo. Their names will change and they will be pooled under a new entity.

In a press release, Air Liquide added that it sold the assets for around €60 million. That is less than 10% of the Group's total sales in Africa.

Adenia Partners, which manages over $800 million in assets through more than 30 investments, promises to support the growth of this new sector of its portfolio with long-term investments of up to €30 million.

The African industrial sector currently experiences growth, as demand for essential gases such as oxygen and nitrogen increases. These gases are used in many fields, from healthcare to industrial processing.

Fiacre E. Kakpo

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