TUNISIA – Modern Plastic Industry and Packaging Company, SOMIPEM, has successfully closed its second round on the private equity market with a co-investment from Ekuity Capital and UGFS-NA in order to finance its development in Tunisia and Africa.

This operation also resulted in an operation of exits of the former institutional shareholders (SODINO, Univers Invest Sicar and CDC Gestion) who supported the company during its first phase of creation and development.

This new round of funding confirms the solidity of the SOMIPEM model, the relevance of its strategic vision and the confidence of investors in its growth potential.

“Through this fundraising, SOMIPEM intends to increase its production capacity and best meet the qualitative and quantitative requirements of the contractors in order to improve brand awareness among Tunisian and African firms,” said Mohamed Haythem Hamdoun, Managing Director of the SOMIPEM Company.

The amount committed by the two partners has not been disclosed, nor the shares acquired by them. This investment will finance the development of Somipem within borders and beyond.

“We are proud to participate in the development of SOMIPEM: this investment is fully in line with in Ekuity Capital’s strategy to support Tunisian SMEs with high potential in their development and we are convinced that SOMIPEM will be able to achieve its growth objectives,” declares Mohammad AlNemah, Managing Director of Ekuity Capital.

Formerly engaged in the management of hotel assets, Ekuity Capital has recently diversified its activities and is interested in new promising sectors in Tunisia. The company currently holds stakes in about twenty companies.

Ekuity Capital was created in 1976 to promote the Tunisian hospitality and tourism sector. It is currently one of the largest diversified investment institutions in Tunisia whose primary objective is to create value by developing long-term assets, by actively encouraging companies to make investments that generate organic growth and profitability and supporting their acquisitions.

“We are delighted to participate in the financing of companies located in regional development zones. This investment comes above all to make the company evolve and thus strengthen its presence on the national and international market,” declares Mohamed Salah Frad, General Manager of UGFS-NA.

Founded in 2013, Société Moderne d’Industrie Plastique et d’Emballage (SOMIPEM) specializes in the injection of plastic caps and caps. SOMIPEM is located in the Bouârada Industrial Zone, in the governorate of Siliana.

Founded in November 2008, United Gulf Financial Services – North Africa is a management company with assets under management of up to 200 MDT whose activity is mainly the financing of SMEs and startups.

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