Helios Investment Partners (Helios), a leading Africa-focused private investment firm, and the Egyptian-American Enterprise Fund (EAEF) have acquired 96.7% of Misr Hytech Seed International (Misr Hytech) on Monday.
Misr Hytech is a leading breeder and producer of proprietary agricultural seeds in Egypt, and one of the Middle East and Africa’s largest independent seed companies.
Misr Hytech has a strong portfolio of proprietary germplasm across key crops in Africa and the Middle East, which will be used to support the Company’s expansion across the continent.
“Misr Hytech’s management team has built an outstanding seeds business with a long track record and a market-leading position in Egypt. Misr Hytech is a scarce asset in Africa with growing end markets and strong structural tailwinds. We are very excited to partner with, and back, what we believe is a first-rate management team to achieve the next phase of growth for the Company in Egypt and other markets in Africa and the Middle East,” said Alykhan Nathoo, Partner at Helios.
Furthermore, James Harmon, Chairman of EAEF, explained that they are excited about the great potential of this investment in contributing to the betterment of the Egyptian agricultural landscape, adding that the achievement of the previous shareholders and excellent management team has strategically positioned Misr Hytech as a leader and pioneer in the Egyptian corn and sorghum market.
On the other hand, Suri Sehgal, founder of Misr Hytech, added that Misr Hytech, with its strong base in Egypt, is uniquely positioned to establish itself as a leading seed company in the emerging seed markets of Africa.
While Raman Sehgal, Chief Executive Officer and shareholder of Misr Hytech, said that Hytech has built a strong track record as a consistent quality seed company in Egypt, and the team is looking forward to repeating success in the region by leveraging the synergetic opportunity that has become available with new investors opening many avenues to expand the business in the near future.
Norton Rose Fulbright and Matouk Bassiouny acted as primary legal advisors to Helios and EAEF, and DLA Piper acted as Helios and EAEF’s intellectual property legal advisor.
Nyemaster Law Firm and Al Tamimi & Company acted as legal advisors to the selling shareholders, and Gulfstone Capital acted as financial advisor to the selling shareholders.