DPI announces exit from international facilities services

Development Partners International (“DPI”), a premier investment firm focused on Africa, today announces the sale of International Facilities Services (“IFS”). DPI has signed a binding agreement with a consortium comprising of ES-KO, a global provider of integrated facility support services, Phatisa, a Mauritius based private equity firm, and IFS’s management, to sell 100% of its shares in the company.

Established in 2000, IFS is a leading African integrated facilities management business that supports blue-chip customers operating in remote sites. DPI made its investment in IFS from its second flagship fund, African Development Partners II (“ADP II”) in 2019.  Since then, DPI has worked closely with the company’s management team to navigate the complexities of operating at scale in Africa and drive further international growth.

Together with IFS’s management team, DPI has leveraged its experience of building successful regional champions, and has helped IFS grow substantially. The company now services more than 40 remote sites across six African countries including Mozambique, DRC and Zambia, and employs nearly 4,000 people. DPI has also supported IFS’s commitment to being deeply integrated with local communities, creating jobs and enabling foreign direct investment. During the investment period, the business has made its operations more sustainable by reducing waste and renewing its focus on working with local suppliers.

James Griffiths, Partner at DPI said: “We are thrilled to announce our successful exit from our investment in IFS. Our partnership with Mr Webber and the senior leadership team at IFS exemplifies how institutional capital can support dynamic African businesses to navigate the inherent complexities of scaling in Africa while growing across borders. The success of IFS is a testament to our long-term partnership with management and we believe the business is now in the perfect position for its integration with an international strategic acquirer.”

Henlo Webber, CEO of IFS said: “DPI has been an excellent partner and hugely supportive of our ambition; its backing and management expertise have been instrumental in guiding our business through its expansion into new markets. We are excited for our next phase of growth and the opportunity to continue building on the strong foundations in place.”

This sale follows DPI’s exit from KELIX bio to Mubadala in March and represents DPI’s second major exit in 2024. DPI created Kelix bio in collaboration with BII and EBRD in 2020 and, in just four years, achieved one of the largest private equity exits in the African pharmaceutical sector in the last twenty years. Together, these exits showcase DPI’s ability to create value and grow businesses both organically and inorganically across international markets and achieve successful exits in Africa.

This transaction is subject to regulatory approvals.