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Portfolio of Investees |
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Investees Companies |
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| Hotel Le Recif |
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At the end of 2007, I&P Capital (Indian Ocean) acquired, together with a co-investor, 100% shareholding in the Pointe aux Piments Hotel Ltd, the company owning and operating the then Colonial Beach Hotel, a small 1 to 2 Star Hotel with 52 rooms, located in Pointe aux Piments, on the North-West coast of Mauritius.
Following the acquisition, I&P initiated major upgrading and refurbishment work to transform the hotel into a 3 star hotel of 70 rooms with a full range of improved services (wellness center, water sport center, kids corner, 2 restaurants, etc…) . After a refurbishment period of 10 months, the hotel started its operations at the end of October 2008 under the new name "Le Récif".
www.lerecif.com |
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CBE-Ngazidja is based in the Comoros Island and I&P Capital (Indian Ocean) holds 66% of its share capital along the Promoter, Mamoud Mahamoudou who holds the remaining 34%. The company has secured exploitation rights over a 20 hectares sand quarry for a period of 20 years. It was a start-up project and the total investment was made in 2005 for an amount of over one million euros. The project contributes significantly towards eliminating sand extraction from beaches and provides a sure and reliable source of aggregates both for construction and public works.
CBE has more recently diversified its activities and is presently involved in excavation works and road construction. CBE is the supplier of sand and aggregates for the construction of most large constructions, and has completed the construction of several roads on the Island.
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I&P Capital (Indian Ocean) has an economic interest of 5% in Orange Madagascar. Through several holding companies, I&P Capital controls a 17% stake in the company and has become the main representative of the minority shareholders in the company.
Orange Madagascar operates a cell phone network in Madagascar since 1999 and has now become the market leader with around 2.1 million subscribers and more than 50% share of the mobile phone market vs 169,000 subscribers when I&P Capital acquired its stake in November 2005.
Orange Madagascar has also launched an internet service for both the individual and corporate customers and has developed a regional cable between the islands to connect Madagascar with the rest of the world.
www.orange.mg |
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Together with a co-investor, I&P Capital (Indian Ocean) hold 100% of the share capital of Grand Hotel du Louvre. The company owns and operates a 3-star hotel in downtown Antananarivo about 50 metres from the Presidential Palace and in the heart of the financial and commercial sectors of the city. After some renovation and extension works, the hotel presently has 75 rooms and Hotel du Louvre is now one of the largest international-standard hotels in Antananarivo.
In order to diversify its offer, I&P Capital (Indian Ocean) has also bought a 32% stake of Dimitri Salichon’s (Managing Director of Louvre) hotel project. Tamboho hotel is a 3-star hotel with 30 rooms near the city centre surrounding a lake over an area of 1,450m 2.
www.hotel-du-louvre.com
www.hoteltamboho.com
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In July 2008, I&P Capital (II) acquired 100% of Newpack, a company based in Madagascar and engaged in the production and sale of corrugated carton boxes. It has two production sites, Newpack SA in the capital Antananarivo and Eastpack in Diego Suarez. The company enjoys a long established track record including a comfortable market position, a well- maintained and high quality production equipment and a yearly production capacity of 15,000 metric tons with a well diversified client base serving both domestic and export oriented companies.
www.newpack.mg
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Realised Investments |
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| Expand Technology (Holding) Ltd |
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I&P Capital (Indian Ocean) Ltd held 73% of the share capital of Expand Technology Ltd since May 2004. Based in Mauritius, this company served clients in Mauritius, Madagascar, Kenya, Uganda and other Eastern African countries as well as European clients in BPO assignments. The company provided turn-key card management systems and operated card systems on behalf of its clients. Expand is a VAR (Value Added Re-seller) for Gemalto, the world leader in card systems.
At the time of our exit, Expand had developed an enviable product portfolio which can meet the needs of
different sectors using card systems like petrol stations, banks and credit cards companies, amusement parks, large retailers and cell phone operators. In three years, Expand had become a reliable and added-value niche player in a high growth service segment. I&P Capital exited this investment by a trade sale to a large Mauritian financial group.
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| Execom Ltd |
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I&P Capital (Indian Ocean) had a 55% share in the capital of Execom Ltd. Execom operates a call centre in Mauritius and mainly targets French speaking companies who look for quality outsourcing capacities. Execom is the result of the merger in 2004 of two call centres namely Prophony and CRM which were partially owned by I&P Capital (Indian Ocean). Once the company had gained a well diversified portfolio of clients, I&P Capital realised this investment by a trade sale to a large Mauritian group.
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