Bluepeak Private Capital, an Africa-focused alternative asset management firm that backs mid-market companies has struck the eighth bet from its inaugural fund, investing in a disposable hygiene products maker.
The Tunis-headquartered investor, which also has offices in Nairobi and London, has committed $15 million to Sancella, a manufacturer, importer, and distributor of a range of disposable hygiene products across North Africa and Francophone West Africa.
Bluepeak will deploy from its $158 million vehicle--BluePeak Private Capital Fund SCSp--to facilitate Sancella’s expansion across sub-Saharan Africa. Sancella is a distributor of well-known brands such as Peaudouce, Nana, Lotus, Tena, and Tork, which are owned by Essity.
The sustainability-linked investment in Sancella is aimed at supporting its carbon emission reduction plan. Sancella aims to strengthen its presence in Africa, increasing access to disposable hygiene products in lower-income countries. BluePeak’s investment will contribute to expanding Sancella’s presence in Sub-Saharan Africa, broadening its reach to deliver essential hygiene products in underserved markets.
"Our investment is pivotal in advancing Sancella’s mission to expand access to essential hygiene products across Africa." Rami Matar, senior partner, BluePeak.
Besides, Sancella is also focused on strengthening its existing initiatives to reduce water consumption and the use of plastic in finished products.
“This investment aligns with our commitment to sustainable growth and reinforces our capacity to deliver on our mission while meeting ambitious targets for carbon reduction and resource efficiency,” said Farouk Zouhir, CEO, Sancella.
The latest deployment comes two months after Bluepeak made its largest investment from the fund at $25 million in an agro-processing company called Robust, which operates across 10 African countries.
The BluePeak Private Credit Fund had marked the final close last year at $158 million, as against the initial target size of $200 million and a hard cap of $250 million. It is backed by key development finance institutions, including the British International Investment (BII), the European Investment Bank, the US Development Finance Corporation (DFC), the African Development Bank (AfDB), FMO (the Dutch entrepreneurial investment bank), and SwedFund (Sweden’s development finance institution).
The fund invests in small and medium enterprises and midcap businesses. Its portfolio companies operate across a range of sectors such as education, food products, logistics, healthcare, and manufacturing and technology. Its portfolio companies include the financial services subsidiary of Côte d’Ivoire-based conglomerate Teyliom Group, Teyliom Finance, logistics company Suhara Group, Watu Africa, Africure Pharmaceuticals, and Grit Real Estate Income Group.
Bluepeak has also invested $20 million in Teyliom Finance, and $14 million in Watu Africa.
Established in 2019, Bluepeak was set up to fill a financing gap in Africa by offering tailor-made investments ranging from junior debt to senior equity.