AfricInvest is pleased to announce the successful launch of a phased exit process from its investment in SIPO Holding, the Mauritius-based holding company controlling Groupe Centaures, a long-established Ivorian logistics and transport group operating through Les Centaures Routiers (“LCR”).
The transaction follows a successful USD 16 million fundraising by Groupe Centaures, part of which will support the Group’s next phase of development and capital expenditure program. This financing enabled the partial exit of AfricInvest III, reducing its shareholding in SIPO. The transaction forms the first step of a structured exit process agreed between AfricInvest and the founding shareholders of Groupe Centaures, with the full exit of AfricInvest III expected to be completed by the end of 2026.
Founded in 1953, Groupe Centaures is one of Côte d'Ivoire's long-standing logistics and transport platforms. Since AfricInvest's investment in 2018, the Group has undertaken a significant transformation, evolving from a transport operator into an integrated logistics platform with strengthened governance, management systems, operational capabilities and ESG practices, and expanding into higher value-added logistics services. During the partnership period, AfricInvest worked hands-on with management across governance reinforcement, financial discipline, commercial diversification, fleet modernization, digital transformation, and the development of a stronger sustainability and impact framework. The value created is measurable and material to the business. Fleet average age was reduced from 20 years at entry to 3 years, improving fuel efficiency, cutting operating costs and strengthening service reliability. A verified greenhouse gas (GHG) emissions intensity baseline was established, with an ongoing reduction target in place. On safety, a critical performance driver in road transportation, the Lost Time Injury Frequency Rate fell from 31.4 to 25.6, with zero fatal accidents recorded since 2023, reflecting both a cultural shift and a direct reduction in the operational and financial costs associated with incidents. Training per employee increased by over 90%, supporting driver retention and productivity.
“This transaction reflects the natural maturity of our investment cycle and the strength of the partnership built with the Delsuc family and the management team over the past years,” said Hichem Ghanmi, Senior Partner at AfricInvest. “We are proud of what was built together: a more efficient, safer and resilient logistics platform that has moved from a transportation company to an integrated logistics business. The Group is now well positioned to continue growing as a leading logistics platform in Côte d'Ivoire, and we look forward to completing this exit process in a constructive and collaborative spirit.”
Commenting on the transaction, Olivier Delsuc, CEO of Groupe Centaures, said: “AfricInvest’s presence alongside Groupe Centaures has been an important step in our journey, helping us move to another level in terms of organization, governance and ambition. We were pleased to have built this partnership over the past years. While their exit comes at a time when the Group still has significant potential and ambitious projects ahead, it also opens a new chapter for Groupe Centaures, with exciting and promising challenges as we continue to develop our logistics platform and serve our clients with greater efficiency.”
Throughout the process, the Delsuc family and Groupe Centaures were advised by Genesis Capital as Transaction Advisor. LPA acted as legal counsel to the Delsuc family, while Trinity International acted as legal counsel to AfricInvest.
The transaction is a standard private equity exit process, consistent with the maturity of AfricInvest III LLC’s investment horizon. It will be implemented in two phases, with the first partial exit now launched and the final exit expected by the end of 2026.