Adenia Capital (II) Exits Textile Manufacturing Company CTL (Sub-Saharan Africa)

Source: Adenia Partners

Adenia Partners, a private equity fund manager focused on growth opportunities and mid-cap buyouts in the West Africa and Indian Ocean regions, has exited its investment in Mauritius-listed Ciel Textile (CTL), a textile manufacturing company active in Mauritius, Madagascar, India and Bangladesh. Adenia Partners, structured through Adenia Capital (II), originally invested in CTL in March 2010, and this exit reportedly translates into a return multiple of 3x and an IRR of 39 percent in euro.