Transaction Summary
Amethis Investment Fund Manager S.A. (Amethis) has acquired a 56% stake in Kazareen Textile Group Ltd (KTG) for an undisclosed sum. KTG, a UK-based, vertically integrated textile manufacturer, specialises in apparel, hospitality linens for luxury hotels, textile accessories, and knitted fabrics, generating 90% of its revenue from exports to over 40 countries across Africa, Asia, Europe, and the Gulf Cooperation Council (GCC) region. The company operates eight garment and textile manufacturing facilities in Egypt. This funding aims to support the expansion of KTG's operations while maintaining high environmental, social, and governance standards. The investment was made through Amethis Fund III, a pan-African growth capital fund aiming to raise €450 million ($469 million) to invest €25-40 million ($30-41 million) in 10-12 mid-sized African companies across sectors such as healthcare, manufacturing, and business services. The fund reached its first close at €140 million ($154 million) in July 2023.
Terms
- Fund Managers: Amethis Investment
