Mediterrania Capital Partners (MCP), a Malta-based private equity firm specializing in growth investments for SMEs and mid-sized companies in North Africa and Sub-Saharan Africa, announces, on December 19, the success of the IPO of TGCC, one of its portfolio companies.
Founded in 1991 by Mohammed Bouzoubaa, TGCC has grown to become the national leader of the construction industry in Morocco, by carrying out large projects that cover several sectors of activity such as residential, hotel, commercial , industrial and infrastructure. The company has completed more than 1,000 projects since its inception, providing integrated design, engineering, procurement and construction services. TGCC also operates in Gabon, Ivory Coast and Senegal, and manages projects in other sub-Saharan African countries from Casablanca. Today, the company employs more than 8,000 people.
In January 2018, a consortium of investors, led by Mediterrania Capital Partners and comprising DEG, Proparco and South Suez as well as the MC III fund of Mediterrania, acquired a stake in TGCC, with the aim of supporting the expansion plans of the company, building on growth trends in the construction sector in Morocco and sub-Saharan Africa, driven by strong demand for residential and non-residential buildings coupled with increased government investment in infrastructure and construction. ‘energy.
Over the past four years, the Mediterrania Capital Partners team has worked closely with the management of TGCC in order to bring the company to a higher level of growth and innovation, while maintaining a strong focus on aspects sustainability. The shareholders of TGGC initiated the IPO process in 2021 to allow MCP to begin its exit process, and to increase the financial capacity of the company with the aim of fueling growth for the future. next stages of growth.