Jan 24, 2022

Staff writer Word count: 320 Adiwale Partners via its Adiwale Fund I has acquired a minorty stake in IDC, a drilling services company in Africa. Choose ONE Magazine and TWO Articles for FREE when you register an account Adiwale Partners via its Adiwale Fund I has acquired a minorty stake in IDC, a drilling services company in Africa. Jean-Marc Savi de Tové, Managing Partner of Adiwale Partners, said: “We are excited to be making this investment in IDC, as it is in line with our imports’ substitution thematic approach. Most services across the mining value chain in the region are still offered by international players and only a handful of structured local companies.” “IDC’s track record and good operating standards allow the company to compete with global drilling services companies active in the region." IDC started operations 10 years ago in Senegal and today also operates in Cote d’Ivoire, Mali and Guinea, with further expansion plans in French-speaking West Africa. IDC is uniquely positioned between small local players and international drilling companies operating in the region. Its major clients are listed international mining companies and it also serves the construction and water industries. Building on the company’s competitive advantages, trackrecord and clients portfolio, IDC’s management intends to become the leader in the fast growing Francophone West Africa drilling market within the next five years. Vissého Gnassounou, Managing Partner of Adiwale Partners, added: “We look forward to support IDC’s management in attaining ground-breaking milestones and sustainable growth. The company has a management that is very keen to create skilled jobs for local communities. It also has a strong inclination to putting in place solid social and environmental management systems.” Adiwale Fund I offers growth capital and operational support to mid-size companies looking to strengthen their core activities and expand in West Africa and beyond. The fund invests primarily in consumer goods and services, business services and manufacturing. Asafo & Co. advised Adiwale Fund I on the legal aspects of the investment. Deloitte Cote d'Ivoire advised the fund on the financial due diligence and IBIS Consulting on the environmental and social due diligence. Enexus Finance and Julien Baubigeat advised the company. Stay Connected