Alta Semper Capital Exits Egypt’s Macro Group Prescription drugs with the Profitable Conclusion of its IPO

Alta Semper Capital LLP (“Alta Semper” or the “Agency”) publicizes that it has efficiently accomplished its exit from Egypt’s market-leading cosmeceuticals producer, Macro Group Prescription drugs (“Macro Group” or the “Firm”). Shares of Macro Group started buying and selling 10 February 2022 in a Reg S, 144 A preliminary public providing underneath the image MCRO:CA on the Egyptian Trade. The ultimate supply value stood at EGP 4.85 per atypical share or 2.8 bn EGP (equal to USD 178 mn).

Since Macro Group grew to become a portfolio holding of Alta Semper’s in 2017, Alta Semper has supported the Firm in almost doubling its market share. As we speak, its diversified portfolio encompasses 112 merchandise throughout quite a lot of high-growth therapeutic areas. Alta Semper aided in boosting Macro’s high line to USD 27 mn by the tip of 9M 2021, 3x its 2017 revenues, whereas making certain profitability and rising its EBITDA and bottom-line to USD 11 and USD 10 mn respectively throughout the identical interval, almost 3x its 2017 ranges. 

“We’re happy with our profitable journey with Macro Prescription drugs and its large progress on the monetary, operational, organizational and social influence degree through the tenor of our partnership,” stated Afsane Jetha, co-founder and CEO of Alta Semper. “It has been a pleasure working alongside such a talented and motivated administration group as they established a management place in Egypt’s burgeoning cosmeceutical house, and we congratulate them on their continued success.”

Alta Semper Managing Director and Head of North Africa, Ahmed Rady, who additionally serves as Vice Chairman of Macro Group added “Since our funding in 2017, we’ve got labored alongside Macro’s relentless administration group to supercharge sustainable progress, increase working margins, and lay the foundations for a extra spectacular future. Now we have efficiently grown gross revenue margin from 63% in 2018, to 80% in 9M 2021, grown EBITDA margin from 21% in 2018 to 41% in 9M 2021, and have achieved a powerful EBITDA CAGR of 89% over the interval of 2018 to 2020. In an trade that’s witnessing transformational progress, we consider Macro Group will proceed to form what’s a thriving and quickly increasing market.”

Alta Semper’s shareholder base has performed a strategic function in enhancing Macro Group’s monetary capabilities, in addition to its sustainability and governance practices. The Agency’s traders embrace establishments such because the Worldwide Finance Company, the funding arm of the World Financial institution, IDI Rising Markets, and Mbuyu Capital Companions, along with skilled people corresponding to former Citigroup Chairman Richard Parsons and businessman and philanthropist Ronald Lauder, inheritor to the Estée Lauder cosmetics firm. 

“It’s gratifying to see this constructive funding final result for a corporation devoted enhancing high quality of life for thousands and thousands of Egyptians” stated Richard Parsons, Founding Shareholder and Chairman of the Funding Committee of Alta Semper. “Now we have a longstanding dedication to investing on the African continent for constructive change. The success of Macro is emblematic of the kind of final result we search.”

Ronald Lauder, a Founding Shareholder of Alta Semper, added that “Our mission as traders is to advance entrepreneurial exercise throughout Africa in a way that serves as a catalyst for sustainable growth and broadly improves high quality of life on the continent.”

Alta Semper has overseen Macro Group’s Environmental, Social and Governance enhancements, which has resulted in elevated feminine workforce illustration with ladies comprising 42% of whole staffing and occupying 18% of senior administration positions. Neighborhood outreach via Medical Convoys in collaboration with the Egyptian Ministry of Well being has immediately benefitted over 8,000 sufferers since 2017. With a watch on Sustainable Growth Targets, the Firm has been in a position to deploy coaching applications exterior of the city middle of Cairo, throughout extra rural areas in Higher Egypt and the Delta. In tandem, Environmental practices have been improved via vitality effectivity initiatives, waste minimization and switching to uncooked supplies with a decrease environmental influence. Macro stays dedicated to enhancing its ESG practices in addition to striving to contribute to the improved achievement of the Sustainable Growth Targets within the years to come back. 

Macro Chairman and Co-founder, Dr. Ahmed El Nayeb, concluded “I’m extraordinarily happy with the group we’ve got constructed during the last 18 years, from its humble beginnings to turning into the market chief in Egypt’s cosmeceutical house and the primary of its type to go public in Egypt. The IPO marks one more vital milestone for our enterprise and we’ll proceed to ship on our imaginative and prescient of regional management throughout the cosmeceuticals and nutraceuticals house.”

EFG Hermes acted as sole international coordinator and Renaissance Capital acted as joint bookrunner for the providing. White & Case LLP acted as authorized advisors to the issuer and the promoting shareholders.

About Alta Semper Capital

Alta Semper Capital is a non-public fairness supervisor energetic throughout progress markets.  The Agency was based by Afsane Jetha, Ronald Lauder, (Chairman of Clinique Laboratories, a subsidiary of the Estée Lauder Firm, and a former US ambassador to Austria), Richard Parsons (Chairman of Rockefeller Basis, former Chairman of Citigroup and Chairman/CEO of Time Warner Group) and is devoted to sustainable investing within the healthcare, shopper and know-how sectors throughout progress markets. 

Study extra at www.altasemper.com.