AFRICNVEST GROUP INVESTS IN BRORON OIL & GAS, A NIGERIAN OIL & GAS SERVICES COMPANY
AfricInvest Fund II LLC managed by AfricInvest Group has completed an investment in Broron Oil & Gas Limited, a Nigerian oil and gas offshore services company which provides offshore support services to International Oil Companies, Independent and indigenous upstream companies in Nigeria and the Gulf of Guinea. AfricInvest is partnering with Chief Henry Ojogho and his team to build a strong Nigerian and ultimately African brand by systematically developing capacity and capabilities through the deployment of local resources.
Mrs. Abiola Ojo-Osagie, Managing Director of AfricInvest Capital Partners Nigeria says ‘Broron is well positioned to maximize the opportunity presented by the recent developments in the Nigerian oil and gas industry as it aspires to become a world class service provider in the areas of offshore support vessels, subsea engineering, procurement, installation and commissioning services to the oil & gas industry. To further consolidate its position in the sector, it recently acquired DSV Avianna, a Dynamic Positioning II vessel (“DP II Vessel”) with offshore support and construction support capabilities’.
AfricInvest Group is one of the leading private equity firms in North and sub-Saharan Africa having executed over 100 investments across several sectors in Africa; and having made significant contributions to the economic development of its target countries through the growth and profitability achieved by its portfolio companies. Operating out of 6 offices (Lagos, Abidjan, Nairobi, Casablanca, Algiers and Tunis), AfricInvest Group targets growth capital investments in SMEs that are well established and positioned in their local markets with the potential to scale up their activities on the regional level. AfricInvest’s pan-African funds started making investments in Nigeria since 2004. AfricInvest Funds portfolio include investments in Anchorage Leisure Ltd, owners of Radisson Blu Hotel Lagos; Tunisavia, a helicopter service company serving offshore oil platforms in North Africa and Francophone West Africa; and Mansard Insurance amongst others. AfricInvest’s Investors include first class global emerging market investors.