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ABOUT THE

ALLEGROW

FUND

“Allegrow” is a play on the word “Allegro” which in music means a brisk or rapid tempo and conveys the purpose of the Fund – to rapidly grow – obviously with due regard to the risks involved – the investments made into the Fund.

 

Allegrow is primarily a growth and operational development fund with a Namibia-only mandate. It will invest in Namibian companies which have the potential to grow rapidly and will provide them with the capital and management support needed to unlock their full potential.

 

Allegrow therefore has three primary objectives:

  • To provide superior returns to its investors and thereby contribute to the wealth creation of Namibia’s citizens

  • To play a part in the upliftment of Namibia’s economy through its role in improving and growing companies in which it invests

  • To train Namibians, help localise the private equity industry, stem unnecessary outflow of capital and positively impact the local economy 

 

Allegrow Fund (Pty) Ltd is a private company registered as a Special Purpose Vehicle with Namfisa in terms of the Pension Fund Regulation 29. It has raised N$460 million from 19 Namibian and has a term of 10 years.

INVESTMENTS

TO DATE

YEAR OF INVESTMENT: 2016

ELSO HOLINGS (PTY) LTD

Sector: General Industrials, Consumer Goods

Deal type: Growth capital, buyout

Business overview:

Elso is a Namibian manufacturer of bio-degradable soaps, sanitary paper and cleaning equipment and was founded in 1956. It is focused on the Retail and Hospitality segments of the fast moving consumer goods (FMCG) and cleaning equipment markets.

Fund: Allegrow

Status: Invested

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YEAR OF INVESTMENT: 2016

FABUPHARM (PTY) LTD

Sector: General Industrials, Consumer Goods

Deal type: Growth capital

Business overview:

Fabupharm is a Namibian manufacturer of pharmaceutical and personal care products and owns the only fully-fledged pharmaceutical manufacturing plant located in Otjiwarongo. Fabupharm produces a variety of products such as analgesics, antibiotics, supplements, creams, ointments and sunscreens which are stocked by local and international pharmacies and retailers and are available to public healthcare patients in government hospitals and clinics.

Fund: Allegrow

Status: Invested

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YEAR OF INVESTMENT: 2016

ROSEWOOD ACADEMY

(Previously Welwitschia Private School)

Sector: Education

Deal type: Growth capital

Business overview:

Rosewood Academy offers a unique learning experience, with special focus on the individual, combining traditional and creative teaching methods. They strive to unlock each child’s potential to become a self-sustainable individual, prepared and guided for a successful professional future.

Fund: Allegrow

Status: Invested

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YEAR OF INVESTMENT: 2017

PANEL 2 PANEL

Sector: General Industrials

Deal type: Buyout

Business overview:

Panel to Panel, with its headquarters in Walvis Bay, supplies contractors and end customers across the country with insulated panels in their various applications such as cooling rooms, sterile environments and prefabricated houses. Panel To Panel serves a diverse range of sectors including the fishing industry, abattoirs, lodges, pharmaceutical plants and the public sector.

Fund: Allegrow

Status: Invested

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YEAR OF INVESTMENT: 2017

HEAT EXCHANGE PRODUCTS & NAMIBIA AQUA MECHANICA

Sector: Utilities

Deal type: Buyout

Business overview:

Heat Exchange Products is the one of the leading water treatment companies within Namibia and is committed to providing effective water treatment solutions to its clients through specialised non-com-moditized chemicals and ser- vices across all sectors. Its subsidiary, Namibia Aqua Me- chanica, is a reseller of water-related products.

Fund: Allegrow

Status: Invested

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YEAR OF INVESTMENT: 2019

VALCO PIPES

Sector: Utilities

Business overview:

Valco supplies water pipes and allied products that are used to transfer potable and non-potable water (bolt-on acquisition to Heat Exchange Products).

Fund: Allegrow

Status: Invested

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YEAR OF INVESTMENT: 2017

ECOTECH & ECO VALVES

Sector: Services

Deal type: Buyout / MBO

Business overview:

EcoTech provides process instrumentation solutions including flow meters, temperature gauges, level meters and houses a strong admin function that can be scaled across the group. EcoValves provides an attractive range of valves and actuators to mining, industrial clients with strong growth aspirations. Together with Heat Exchange Products and Namibia Aqua Mechanica, EcoTech and EcoValves are another building block in consolidating quality Namib- ian water sector businesses to create a local powerhouse.

Fund: Allegrow

Status: Invested

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YEAR OF INVESTMENT: 2019

NAMBOB

Sector: Services

Deal type: Buyout / Growth

Business overview:

Established in 1962 in Namibia as Avbob Namibia and relaunched to Nambob in September 2019, the company has grown into the leading funeral service provider, with a well-established network of 25 branches across Namibia. Nambob’s comprehensive service offerings include the provision of funeral services, coffins, wreaths and funeral-ware. Most branches boast with fully fledged parlours and their own mortuaries. Through its network, Nambob also distributes third party funeral policies.  It is Nambob’s vision to serve customers and communities by providing a one-stop solution for funeral insurance, services and products.

Fund: Allegrow

Status: Invested

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YEAR OF INVESTMENT: 2021

ERONGO MEDICAL GROUP

Sector: Health Care Services

Deal type: Buyout / Growth

Business overview:

Erongo Medical Group (EMG) is a leading Namibian Walvis Bay-based private healthcare group providing world-class medical solutions to the local market, which initially started out as a radiology centre in Walvis Bay in 1998. EMG owns the Welwitschia Hospital and has interests in several other health care entities.

Fund: Allegrow

Status: Invested

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