Information on the Target

Amethis is pleased to announce its minority stake acquisition in the Globex Group, a leading player in express delivery, freight, and transit solutions in Morocco and Sub-Saharan Africa. Founded in 1998 in Casablanca, Globex operates under the FedEx Express brand and provides services such as express delivery, freight solutions, and storage. It holds FedEx's Express and Trade Logistics licenses, as well as a TNT license, and is compliant with several customs licenses in Morocco and Sub-Saharan Africa, including Senegal and Cameroon.

With over 20 years of experience, Globex has established itself as a key reference in the express parcel shipping, freight, and transit sectors. The company offers competitive and guaranteed delivery timelines to and from over 220 countries, leveraging the extensive FedEx worldwide network. As the second-largest express transport company globally, FedEx has a consolidated revenue of over $60 billion, significantly boosted by its acquisition of TNT in 2016.

Industry Overview in Morocco

The logistics and transportation industry in Morocco has been experiencing significant growth, driven by an increase in trade activities and the strategic geographical position of the country as a gateway between Europe, Africa, and the Middle East. The Moroccan government has been focusing on enhancing infrastructure development to facilitate faster and more efficient logistics services. This development is crucial for boosting the competitiveness of local businesses in the global market.

The demand for express logistics and freight services is rising, especially as e-commerce continues to expand. As consumer expectations for faster delivery times increase, logistics companies in Morocco are investing in technology and processes to enhance their service offerings. The growing need for supply chain efficiency is also prompting businesses to seek robust logistics partners who can ensure timely deliveries and reliability.

Moreover, the integration of Morocco into the African market provides ample opportunities for logistics companies to establish themselves as regional leaders. The growth of intra-African trade agreements and investments in transportation infrastructure will likely catalyze further developments in the logistics sector, allowing companies like Globex to benefit from increased demand for freight and express services.

With the rise of international investments and the fiscal incentives offered by the Moroccan government, the logistics industry is expected to prosper. Companies investing in logistics infrastructure enhancements are well-positioned to capture market share and drive profitability.

The Rationale Behind the Deal

Amethis aims to support Globex's efforts to strengthen its regional leadership position by identifying several short- and medium-term growth opportunities to enhance its profit margins and solidify market share. These strategic growth areas include establishing a logistics platform in Morocco that could serve as a pivotal hub for Africa amidst the evolving south-south trade dynamics. Furthermore, developing freight activities within Morocco, improving competitive advantages such as delivery times, and expanding operations in Senegal and Cameroon are pivotal strategies for Globex's growth.

This partnership is timely, as Globex's ambition aligns with Amethis' strategic goals to aid promising companies in enhancing their operations, indicating a harmonious collaboration benefiting both parties.

Information about the Investor

Amethis, co-founded by Luc Rigouzzo and Laurent Demey, is an investment fund manager focused on Africa, managing nearly $1 billion in assets. With over thirty investments to date, Amethis provides growth capital to promising mid-sized champions across various sectors, supporting their growth through an extensive international network spanning Europe and Africa. The Amethis team, comprised of over 45 experienced professionals, has significant regional and sectoral expertise, including offices in Paris, Abidjan, Casablanca, Nairobi, Cairo, and Luxembourg.

Amethis is a partner of Edmond de Rothschild Private Equity, which manages over €3 billion in assets with an entrepreneurial approach to finance. Founded in 1953, Edmond de Rothschild has a strong commitment to developing distinctive investment strategies that address environmental and social challenges while also ensuring sustainable returns for its investors.

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The acquisition of a minority stake in Globex by Amethis presents a promising investment opportunity. Given Globex's well-established position in a growing logistics industry, the potential for increased market share through strategic initiatives makes this partnership advantageous. Amethis’s support will likely enable Globex to enhance its competitive advantages, particularly in the increasingly vital freight and express delivery segment.

Moreover, the focus on building a logistics platform in Morocco aligns well with broader economic trends and regional trade developments, suggesting that the investment could yield favorable returns in the medium to long term. Amethis’s expertise in growing mid-sized companies across Africa may offer Globex the strategic guidance needed to capitalize on emerging opportunities.

In conclusion, the collaboration between Amethis and Globex is positioned for success due to the favorable market dynamics in Morocco's logistics sector and the growth strategies planned for the region. This investment is expected to bolster Globex's operational capabilities, making it a compelling proposition for both parties involved.

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