Our Portfolio

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Our Portfolio

Private Equity

ACH's Private Equity business is one of the most diversified/ sector agnostic private equity firms. Leveraging on our deep expertise to identify the right opportunities, we enable our investments to achieve their growth potential, creating the right opportunities for our partners, management teams and investors.

Today, ACH’s portfolio has grown to a total of more than EGP 10 billion.

Building and Raw Material

Financial Services

Education

Agri/ Agro Industries

ETHYDCO

The Egyptian Ethylene and Derivatives Company (ETHYDCO) is the leading provider of linear low- and high-density polyethylene and polybutadiene and is set to manufacture ethylene, butadiene as well. ETHYDCO’s petrochemicals complex is the largest in Egypt and Africa. The company exports over 70% of its final product and sells the remaining 30% locally.
ETHYDCO is in the process of investing in its infrastructure to enhance its import processes of methane-rich natural gas. It owns 60% of Petrochemicals Logistics Services (PLS), a megaproject aimed at building a petrochemical tank farm and logistics support arm for the entire oil, gas, and petrochemical sector.
21
%

ACH Ownership

SECTOR

Petrochemicals

Potential Exit

ETHYDCO is at a size, profitability position, and export orientation that makes it a promising candidate for an IPO within the next three years.

Our Contribution

Since investment, ACH has continuously provided ETHYDCO with the necessary support and guidance to strengthen its operational efficiency and financial performance. In 2012, ACH worked jointly with ETHYDCO to secure a USD 1.25 billion debt facility to finance its state-of-the-art manufacturing plant, established as one of the largest petrochemical plants in Africa. Despite the economic turbulence that came on the heels of the Egyptian revolution in 2011, the debt facility was awarded the Project Finance Deal of 2012 Award from Euromoney and was named ``African Petrochemicals Deal of the Year``

Methanol and Derivatives

The International Company for Methanol and Derivatives (Methanol and Derivatives) is a full-fledged industrial complex project located in Suez Canal Economic Zone at Al Ain El Sokhna, which aims to manufacture methanol, ammonia, petrochemicals, and others to meet the domestic market’s needs of methanol and its derivatives and export its production surplus abroad.
The company’s strategic location enables it to benefit from the facilities supplied by the government in the area, in addition to industrial zone tax and customs exemptions.
30
%

ACH Ownership

SECTOR

Petrochemicals

Potential Exit

ACH’s potential exit from Methanol and Derivatives will be in the form of an IPO, expected to take place at the company’s maturity stage.

Our Contribution

Three of ACH’s representatives sit on the International Company for Methanol and Derivatives’ Board, serving as strategic advisors on the project’s financial and operational decisions. On the financial front, ACH assists in devising the optimal debt levels, with an eye to allow the utmost flexibility for the company to finance growth initiatives and maintain healthy leverage levels. ACH ( jointly with Al Ahly Pharos Investment Banking) are mandated for the debt raising for the project. In this regard we coordinate with Export Credit Agencies (ECAs) and local financial institutions to raise funds for the project, acting as the sole book runner and global coordinator for the ECA bank on lending structures with a role to communicate with borrowing banks.
ACH also plays a vital role in the industrial project’s operations, by negotiating with the Suez Canal Economic Zone for the land usufruct agreement, negotiating the required resources for the project, as well as assigning suitable advisors and consultants to handle key elements of the project such as legislation, environmental impact, and project management.

Sidi Kerir Petrochemicals (SIDPEC)

Sidi Kerir Petrochemicals (SIDPEC) is one of Egypt’s foundational petrochemical companies. The company specializes in the production of ethylene, polyethylene, butane, and naphtha, among others. SIDPEC’s polymer portfolio includes linear low-density polyethylene and high-density polyethylene, which are used in various applications, such as film, blow molding, roto molding and injection molding.
SIDPEC exports approximately 50% of its final products and sells the remaining 50% domestically. The company also owns 20% of Petrochemicals Logistics Services (PLS), a handling and trading facility hub that provides logistics solutions for the oil, gas, and petrochemical industry

Potential Exit

SIDPEC’s shares are listed on the EGX, with a reasonable free float that gives it a solid liquidity position.

SECTOR

Petrochemicals
6.9
%

ACH Ownership

Our Contribution

ACH works closely with SIDPEC to monitor and evaluate its strategic decisions, expansions, and M&A plans. While ACH’s representation on SIDPEC’s board of directors is relatively low, the company’s extensive industry experience and close working relationship with ECHEM has had a significant contribution to SIDPEC’s operational strategies.

Alexandria Mineral Oils Company (AMOC)

Alexandria Mineral Oils Company (AMOC) is a pioneer in Egypt’s petroleum industry and engages in the production of essential mineral oils, paraffin wax and its derivatives, naphtha, and butane. The company distributes and markets its products in Egypt and overseas.
AMOC’s manufacturing facilities comprise of two main complexes: the Lubricants and Special Oils complex, which produces neutral oils, paraffin waxes, soft/slack waxes, and aromatics as well as the Maximization of Gas Oil complex, which produces gas oil, naphtha, and liquid petroleum gas, waxy distillates, heavy residue, and black oil for blending with exported fuel oil and biological sulfur.
17.4
%

ACH Ownership

SECTOR

Petrochemicals

Potential Exit

In 2021, ACH profitably reduced its stake in AMOC from 25% to 20%. AMOC's shares are listed on the EGX, with a reasonable free float, giving it a solid liquidity position.

Our Contribution

ACH has a considerable representation on AMOC’s board of directors, additionally one of ACH team was elected as a board representative of the free-float. ACH continuously supports AMOC with an eye to enhancing the company’s performance and actively provides advice on new projects and ventures to improve its operational footprint and financial results. ACH also communicates regularly with the Egyptian Ministry of Petroleum to augment the company’s position and to market and support the successful execution of new projects.

Misr Cement Qena (Cement Qena)

Misr Cement Qena (Cement Qena) is an Egyptian company that specializes in the production of cement and cement-related products, both domestically and abroad. The company’s portfolio ranges from the manufacturing and distribution of cement and cement-related products to construction raw materials and equipment.

Potential Exit

Cement Qena’s shares are listed on the EGX, with a reasonable free float that gives it a solid liquidity position.

SECTOR

Raw Material
21.3
%

ACH Ownership

Our Contribution

Through its ownership in the company, ACH has played a fundamental role in driving sustainable value and growth across various verticals. ACH remains active in the company’s inorganic growth through strategic M&As in vertical and horizontal markets, as evidenced by its majority acquisition of ASEC Cement (rebranded as Minya Cement) and ASEC Ready Mix — doubling its cement production capacity and vertically expanding into the ready-made concrete market.
ACH also continuously works to ensure MISR Cement Group and its business units operate facilities in adherence with sustainable practices as part of its commitment to mitigate its impacts and safeguard the environment of Upper Egypt where facilities operate. On the social front, MCQ’s directives aim to ensure that the community implements an integrated corporate engagement strategy addressing critical social factors such as occupational health and safety, climate change, and community development.

Al Ahly Industrial Development

International Company for Agriculture Wealth (ICAW) was initially inaugurated as a dairy farm, yet due to the slow pace in its operations, with minimal to no growth operations, ACH changed its farm business to an industrial land merging it to Al Ahly Industrial Development
75
%

ACH Ownership

SECTOR

Industrial
  • Sale of 25% of the company to a prominent industrial developer.
  • Collection of shareholder loan related to changing the land purpose to accommodate industrial development.
  • Upon implementation of the industrial development program the project will self liquidate through sale of industrial plots.

Our Contribution

With the strong development in neighboring areas and the construction of the Rod El Farag axis, ACH seized the opportunity to convert the 2MM Sqm land into a logistical/industrial facility, investing in a shareholder loan of EGP 650 million paid to the Ministry of Agriculture to convert the land from agricultural to industrial. Additionally, ACH has worked towards renovating the land’s operations through reforming capital structures, winding down current operations, and implementing a full voluntary retirement scheme for current employees.
ACH is in the process of finalizing agreements with a high-profile industrial developer to launch a first of its kind, world-class industrial and logistical park in the heart of west Cairo. The project is expected to have tremendous impact on the surrounding areas in terms of job creation, attracting local and foreign industrial investments, and generating opportunities for SMEs to flourish with tailored plug-and-play solutions.

(IBAG)

International Business Associates Group for Money Transfer Services (IBAG), the Western Union’s first and largest agent in Egypt, aims to provide its customers with the most convenient, reliable, and secure service network for fast money transferring in Egypt. IBAG branches are available to serve customers through various strategically located branches across the country, centered around helping customers manage their financial needs by providing a plethora of support services.

Potential Exit

IBAG is currently in the growth stage of the business cycle, with no short-term plans for an exit. Upon reaching the maturity stage, ACH will explore the potential of an exit through a trade sale strategy

SECTOR

Financial Services
15.1
%

ACH Ownership

Our Contribution

In line with its strategy to build its own distinctive NBF arm, ACH embarked on the process of acquiring 40% of IBAG alongside Banque Misr, to be equally split between both parties. Through an expansion plan to triple the number of branches of the company, capitalizing on NBE’s widespread network of branches. The expansion plan will help the company extend its geographical footprint by penetrating new locations and markets outside Cairo.

Al Ahly Medical Company (AMC)

AMC aims to provide international quality healthcare services through an integrated strategy that brings together hospitals, diagnostics centers, and day clinics, with an eye to shift patients from individual physician centered models to a more institutionalized system that is responsive, synchronized, and aligned with people’s medical needs throughout their lives.

Potential Exit

ACH’s exit plan from AMC will be in the form of IPO of the holding company in the next five to seven years with the exception of the TPA due to its important role

SECTOR

Healthcare
60
%

ACH Ownership

Our Contribution

ACH’s role towards AMC aligns with its strategy to address the growing need of top-notch, sustainable healthcare services, by elevating the patient’s value offering through high-quality integrated services, professional health workers, highly advanced technology, and strategic partnerships with centers of excellence.
On the TPA side, ACH supports AMC’s mission to connect the healthcare ecosystem and its key players with advanced technology and to constantly be driven by excellence through superior quality, innovation, and effective medical management.

Healthcare Platform

In addition to its direct investments, ACH has established a medical fund/platform which aims to raise USD 350 million from potential limited partners. ACH (through its PE management subsidiary ACIM) will act as the GP for the fund/platform. ACH’s healthcare fund/platform seeks to make impactful investments across the sector, creating an integrated platform which leverages synergies across the sector to provide an unparalleled level of healthcare services across Egypt.
ACH targets to provide an integrated system that brings together hospitals, diagnostics centers, and day clinics, with an eye to shift patients from individual physician centered models to a more institutionalized system that is responsive, synchronized, and aligned with people’s medical needs throughout their lives.

El Nada West Hospital

In November 2020, ACH acquired 94.5% of El Nada West Hospital a leading women and maternity hospital in the western Cairo suburb of 6th of October, and one of Cairo’s largest birthing centers. The acquisition of the Hospital aligns with the Company’s strategy to capitalize on lucrative investment prospects, as the Hospital continues to make headway in the Egyptian healthcare sector through its positive brand equity and robust business model of sustainable superiority in healthcare provision.

Mokattam Hospital

ACH has administered the Mokattam Hospital’s service restructuring and offerings expansion processes alongside strengthening the skills and expertise of the hospital’s medical and technical teams to ensure patients receive a continuum of care that is safe and effective.

Dawi Clinics

In April 2023, ACH entered into an agreement to invest c. EGP 200 million in DAWI Clinics, the largest chain of outpatient care in Egypt, to fund expansion of its clinics chain across the Egyptian market by opening 30 new branches. DAWI Clinics, which is currently operating 20 branches across 9 governorates, offers coordinated family care provided by more than 260 doctors across multiple specialties. In 2022, DAWI Clinics offered its services to more than 120 thousand patients across the country. ACH believes that this investment complements and fits well with the mission statement and growth strategy of ACH’s healthcare platform, providing high quality affordable healthcare services across the country.

Education Platform

In 2021, ACH partnered with Cairo for Investment and Real Estate Development (Al Ahly CIRA), the largest educational services provider listed on the EGX, to establish an education investment vehicle named Al Ahly CIRA for Educational Services.
The partnership seeks to enhance all stages and specializations of the education system in Egypt to bridge the education gap, especially for the middle-income segment. It will employ world-class education management tools to promote inclusive development capitalizing on Al Ahly CIRA’s unrivaled expertise in the sector. The platform will kickstart its initial investment project by establishing Egypt’s first-ever private technology and applied education university (Cairo Saxony University for Applied Sciences and Technologies), in partnership with the prominent German technical educator Saxony (bel kamel). Project is scheduled to start operations in September 2023

CANAL SUGAR

In 2018, ACH Added The Canal Sugar Company SAE to its portfolio of PE investments. With a total investment of USD 1 Billion, The Project was financed with a debt equity of 70:30 with ACH owning a 30% stake

Investment Rationale

Canal Sugar will fill a market gap between the supply and demand of white sugar in the Egyptian market of around 1 million tons per annum, thus acts as a major contributor for import substitution while also exporting the byproducts. The project leverages Egypt comparative advantage in agriculture and agro industries. This project is showcase for attracting direct foreign investments from prominent business leaders such as Al Ghurair Group which is deeply experienced in the global sugar industry.

Our Contribution

ACH acted as the financial advisor for the project responsible for raising the debt component where we succeeded in securing a USD 700 million facility. ACH successfully managed to combine both the agricultural and the industrial components, packaging the transaction as an integrated project to optimize the terms and conditions of the syndicated debt package

Corporate Governance

ACH is represented on the company’s board of directors through three members whose deep industry knowledge ensures maximum value creation for Canal Sugar. The board regularly evaluates the processes implemented by portfolio companies, ensuring they maintain the proper rules, policies, and practices to create sustainable value for shareholders.

Socioeconomic Impact

ACH’s investment in the project has had significant socioeconomic impact on Canal Sugar’s surrounding communities including Al Minya and neighboring governorates. The company will reclaim 188,000 acres of unutilized desert land, creating local jobs for resident and will source 50% of sugar beets for its mill from local farms which will generate positive impact on more than 50,000 local farmers and their families. Additionally, the company will contribute to the development of West Minya through the establishment of a hospital, a vocational school and relevant infrastructure.