For Globex, this transaction comes at the right time to support the company during this phase of growth.
The capital investor Amethis has taken a minority stake in the Moroccan group Globex, a specialist in express messaging, freight and transit solutions in Morocco and sub-Saharan Africa. This operation, authorized on November 7, 2022 by the Permanent Commission of the Competition Council, relates to the takeover of joint control of the company “Globex Investissement SA” by the company “Amethis Mena Fund II Sicav-Rif SCA” through the acquisition of 30.5% of its share capital and associated voting rights.
It is done. The capital investor Amethis took a minority stake in the Moroccan group Globex. Created in 1998 in Casablanca, Globex operates in express messaging, freight, transit and storage solutions in Morocco and sub-Saharan Africa (Senegal and Cameroon), under the FedEx Express brand.
It should be recalled that at its meeting held on November 7, 2022, the Standing Committee on Competition Council had taken the decision to authorize the operation of economic concentration relating to the acquisition of joint control of the company “Globex Investissement SA” by the company “Amethis Mena Fund II Sicav-Rif SCA” through the acquisition of 30.5 % of its share capital and associated voting rights. Globex Investissement operates as a freight forwarder, including in particular settlement operations for transfers from abroad, express courier transport, issuing and settlement operations for local transfers, collection and distribution operations of all mail as well as storage, routing and transport operations for all mail, correspondence and parcels.
The group has Express and Trade Logistics licenses from Fedex as well as a license from TNT. The company also has several licenses with customs authorities in Morocco and sub-Saharan Africa. “In more than 20 years of existence, the group has established itself as a benchmark player in the field of express parcel shipping, freight and transit, and offers its customers delivery times competitive and guaranteed to/from more than 220 countries thanks to the extensive FedEx World network from which it benefits”, underlines Amethis, an investment fund manager focused on the African continent.
Amethis’ ambitions for the logistics sector
Through this investment, Amethis wishes to support Globex in strengthening its position as regional leader by identifying several growth drivers in the short and medium term in order to improve its margins and consolidate its market share. These relays include several strategic axes, such as the creation of a logistics platform in Morocco – which would become, in the current context of strengthening South-South exchanges, a hub for Africa – the development of freight activity in Morocco , the improvement of competitive advantages (delivery times), as well as the development of activities in Senegal and Cameroon. “We are delighted to welcome Amethis alongside us to begin Globex’s expansion into Morocco and Sub-Saharan Africa. Its entry into the capital comes at the right time to support us during this phase of growth and thus achieve our ambition of becoming a key regional player in express transport and logistics,” said Omar El Kadiri, Chairman and CEO of Globex.
For Wilfried Poyet, partner at Amethis, this operation constitutes a new achievement for Amethis in Morocco. “We are proud to partner with an entrepreneur like Omar El Kadiri, and happy to support him in the development of his strategy which is fully in line with that developed by the Kingdom”, he underlined.