CDG Capital Private Equity invests in Trarem Afrique, the leading manufacturer and distributor of office furniture in Morocco
CDG Capital Private Equity, the private equity firm focused on growth investments for SMEs in Morocco, announces the acquisition of a stake in Trarem Afrique SA. (“Trarem”), the leading manufacturer and distributor of office furniture in Morocco. CDG Capital Private Equity made this investment through its fund Capmezzanine II SCR.
Established in 1957, Trarem is a manufacturer of furniture and products for office environments. The company was acquired by the Bennis family in 1967 who developed it from a small workshop to a large industrial group. It is currently run by the M. Samir Bennis, the grandson of the founding CEO of the company 50 years ago.
The company helps its customers define their needs for their workspaces and supplies all the furniture and architectural products to create modern and confortable workspaces. Trarem invested heavily in the last few years in industrial equipment to locally manufacture furniture in high volumes. It is also the exclusive distributor of international brands for higher-end products. With a large array of products, it can offer tailor made solutions for its customers with a mix of locally made and imported products.
CDG Capital Private Equity’s investment is aimed at supporting Trarem’s growth plans and new project based strategy. Indeed, the market is shifting from customers buying from catalogues to larger projects where the company designs tailor made solutions to meet the clients’ needs.
Samir Bennis, CEO of Trarem said: “We welcome the partnership with CDG Capital Private Equity. As a third generation family run business, we have been impressed by the vision CDG Capital Private Equity brought to us for Trarem and are confident the team we are partnering with will help us execute successfully our business plan. With this investment, we are looking to strengthen our position in our markets and capture the various growth opportunities we see in Morocco and Africa.”
Brahim Guessous, Partner at CDG Capital Private Equity added: “We are excited to support the Trarem team in its adventure. Trarem enjoys a strong reputation with its customers and has invested in its industrial equipment to manufacture quality products at competitive prices. With the expected launch of new business office spaces in Casablanca (Casablanca Finance City), a strong management team and our hands-on support to the company, we see the right conditions for value creation for Trarem”.
Trarem is the third investment of Capmezzanine II, following T2S (medical equipment) and Maymana (fine catering).
CDG Capital Private Equity is a regulated financial investment manager licensed by AMMC (Association Marocaine des Marchés de Capitaux).