Helios Investment Partners has acquired Axxela Limited, a Sub-Saharan African gas and power company.
Before this latest acquisition of Oando‘s stakes in Axxela, Helios Investment earlier purchased the majority stakeholding in Axxela’s gas and power business in December 2016, leaving Oando with just 25 percent in the company at the time.
The new acquisition means Helios Investment now has 100 percent ownership of the leading private equity firm.
While reacting to the benefit of Helios acquisition to Axxela, Bolaji Osunsanya, the Chief Executive Officer (CEO) of Axxela, said the acquisition positions his company on a global stage whilst exposing it to greater financial flexibility and access to capital going forward.
“While paying homage to our storied history and legacy, our recognition as being fully owned by Helios gives us global positioning, greater financial flexibility and access to capital going forward.
“As a partner of choice, we have immense pride in the growth, robustness, and stability of our existing business enterprise, enabling us spur the aggressive expansion of our footprint via our audacious growth initiatives in Nigeria and the West African region.”
About Axxela
Axxela Limited operates a natural gas distribution network. The company was formerly known as Oando Gas and Power Limited and changed its name to Axxela Limited in October 2017. The company was incorporated in 2001 and is based in Lagos, Nigeria.
Helios Investment Partners
Helios Investment Partners LLP is a private equity and venture capital firm specializing in buyouts of going concerns, growth equity, recapitalization, mezzanine, growth capital for private enterprises, restructurings, joint ventures, startups; either green-field or brownfield; and majority or blocking-minority structured investments in listed entities.
It seeks to invest in the telecommunications, media, financial services, power, utilities, travel, leisure, distribution, fast-moving consumer goods, logistics, and Agro-allied sectors. The firm prefers to invest in Africa with a focus on Nigeria, South Africa, and Kenya.