Amethis successfully exits its minority stake in Velogic Holding Company Limited through an IPO on the Stock Exchange of Mauritius, signaling the company's growth and strategic market positioning.

Target Information

Amethis has completed the sale of its entire minority stake in Velogic Holding Company Limited through an initial public offering (IPO). Based in Mauritius, Velogic has over 50 years of experience in the logistics sector, encompassing international transit, customs clearance, transportation, warehousing, port services, courier services, maritime agency, and special sugar packaging. The company serves a global clientele across various industries, including healthcare, retail, construction, and fashion, with notable clients such as Huawei, Galeries Lafayette, and various United Nations agencies.

Velogic is managed by a bilingual and experienced team, employing 1,400 staff and over 300 agents worldwide. Amethis originally invested in Velogic in December 2013 to support the company's geographic expansion. Velogic began its first operations on the African continent in 2016 by acquiring two companies in Kenya focused on customs clearance and transportation. With this expansion into East Africa, Velogic is now strategically positioned in seven territories: Mauritius, Kenya, Madagascar, Réunion, India, Singapore, and France, with its border markets in Kenya and India exhibiting double-digit growth.

Industry Overview

The logistics industry plays a crucial role in facilitating the movement of goods worldwide. The recent global health crisis highlighted the importance of this sector, which has demonstrated resilience during