Actis Invests in AutoXpress (Sub-Saharan Africa)
Pan-emerging markets private equity firm Actis has acquired a 36 percent stake in Kenya-based tire wholesaler and retailer AutoXpress Group. AutoXpress operates 20 company-owned stores in Kenya and Rwanda, distributing tire, battery and suspension brands to both corporate customers and the local retail market. The company intends to use the fresh funding to accelerate its expansion across East Africa. Financial details of the transaction were not disclosed.