Adenia Partners, a prominent private equity firm specializing in African growth opportunities, has successfully divested its entire stake in Cresta Paints to Uhuru Investment Partners. Cresta Paints, a key player in the automotive refinish and protective coatings sector in West Africa, was partnered with Adenia since 2015, which helped enhance its market leadership and operational standards.
Under Adenia’s guidance, Cresta Paints not only expanded its market presence across West Africa but also achieved significant certifications like ISO 45001 and ISO 14001. Uhuru Investment Partners, focusing on middle-market investments in West Africa, looks forward to further expanding Cresta’s operations and customer base. The transaction involved notable advisors, including Natrium and EY for Adenia, and PwC along with DLA Piper for Uhuru.
Adenia Partners is a private markets investment firm which has raised $950 million across five funds and co-investments, and is committed to responsible investing and a sustainable Africa. Founded in 2002, Adenia has a proven track record with over 30 platform investments executed and 19 realized exits. Based on-the-ground across Africa, Adenia has one of the most highly qualified African private markets investment teams in terms of educational pedigree, longstanding experience as entrepreneurs and investors, and local in-depth knowledge.
Uhuru is a middle-market private equity firm with a strong track record of driving growth in companies and supporting local entrepreneurs to build world class institutions. Uhuru is managed by a team with international expertise and deep local networks and is focused on high-growth, middle market businesses operating across West Africa. Uhuru partners with passionate entrepreneurs to enhance value through improved operations and the application of world class business and ESG practices.
