GHANA – Injaro Investment Advisors, a Ghanaian private capital fund manager, has announced the acquisition of Outdoor Holding Limited (OHL) by its fund, Injaro Ghana Venture Capital Fund (IGVCF). The financial terms of the transaction were not disclosed.

Outdoor Holding Limited controls a majority stake in DDP Outdoor Ltd (DDP).  DDP is an out-of-home (OOH) advertising company with 50 years of operational experience in Ghana. DDP operates c.1,400 advertising billboards across various OOH formats with nationwide coverage

The Company serves a wide range of customers, including multinationals and blue-chip companies. Its services cover outdoor media rentals, airport advertising, printing and signage production, and below-the-line advertising services.

During the investment period, IGVCF seeks to collaborate with the Company to grow its market share by expanding its advertising service offering.

“DDP has built a track record of excellence under the leadership of the late founder, Mr. Torgbor Mensah, whose successor remains a minority shareholder, and which has continued under the partnership with Adenia,” Jerry Parkes, MD of Injaro Investment Advisors, said.

“As we take over the baton from Adenia to continue this partnership, we remain focused on the founder’s vision of a versatile market-leading advertising partner that delivers exceptional customer service. 

“We are indeed gratified to work alongside the management team and our fellow shareholders to extend the success story of this multi-generational Ghanaian family business.”

This investment by IGVCF aligns with the Fund’s strategy to partner with best-in-class profitable Ghanaian SMEs with credible growth potential operating in the following sectors: Inclusive Financial Services, Food and agribusiness, Education, Healthcare, Manufacturing, and Industrial Services. 

IGVCF also promotes environmental, social, and governance best practices in its portfolio companies to support job creation and sustained economic growth in Ghana and Côte d’Ivoire.

“Since investing in 2014, we have worked with Mr. Mensah to professionalize DDP’s operations and put it on a trajectory to achieve strong commercial success for the long-term,” Nnennia Ejebe, Partner at Adenia, said.

“In line with our sustainable value creation approach, we have invested in improving health and safety in line with best practices, introduced new processes and systems, and supported the professional development of its employees.  

“We are immensely proud of all we have achieved with Mr. Mensah and the DDP management team and look forward to following the firm’s future success with IGVCF’s support.”

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