Aquasantec International, a manufacturer and distributor of water tanks, pipes and related products, addressing water, sanitation and hygiene needs across the East African region, received a USD25m investment from Vantage Capital.
Vantage invested in the form of mezzanine debt and ordinary equity, acquiring a controlling shareholding in the Group as part of a leveraged management buy-out. The founding Shah family, Ramco Group (a diversified conglomerate in Kenya) as well as Terra Mauricia (a publicly listed conglomerate in Mauritius) disposed of their shareholding in the Group as part of the transaction.
Led by Kalpesh Patel, CEO, Aquasantec provides various sizes and types of water storage and supply products including water tanks, underground tanks, drums and pipes. Other products include septic tanks, grain silos and pallets. The Group has a moulding capacity of over 12,000 tons annually and an extrusion capacity of over 15,000 tons annually.
Originally founded in Kenya (trading as Kentainers Limited) over 30 years ago by Chandulal Shah and family, Aquasantec has grown organically, with the additions of a new state-of-the-art factory in Nairobi, alongside factories in Uganda, Rwanda and Zambia.
FinSMEs
20/07/2023