Squire Patton Boggs has advised the management of Solevo Group, a leading African distribution platform for specialty chemicals, on its acquisition by a consortium led by Africa-focused private equity fund Development Partners International (DPI) from Helios Investment Partners. All regulatory approvals for the transaction have been approved and the deal closed on April 18, 2023.
A team led by Corporate partner Julian Thatcher advised Solevo on the transaction.
With over 75 years of operations in Africa, Solevo delivers critical raw materials and expertise to the continent’s high GDP-contributing life sciences and industrials sectors. Solevo’s footprint spans eight capillary networks in West and Central Africa, with a team of 80+ technical and application experts distributing more than 1000 products. Headquartered in London, DPI is among Africa’s leading investment institutions. It seeks to invest in fast-growing companies operating in high-growth sectors across Africa, while also seeking to drive positive, long-lasting social, environmental and economic impact across the continent.
“We’re pleased to have supported Solevo’s management team on this important transaction,” said Julian Thatcher. “In the context of ongoing growth in the specialty chemicals market in Africa, and with new support from this major investment, Solevo will continue to expand its portfolio and presence across the continent.”