CDG Capital Private Equity successfully exits Jet Contractors at a 3.3 money multiple
With an investment return of 3.3 money multiple, CDG Capital Private Equity has announced its total exit from Jet Contractors through a sale of shares on the Casablanca Stock Exchange.
“CDG Capital Private Equity has contributed to the organic and structural development of Jet Contractors and has supported its integration of the value chain to become one of the leading national players in building and construction with strong architectural component » said Omar Tadlaoui, General Manager of Jet Contractors, before adding : « Since then, Jet Contractors has been able to reinvent itself continuously; From a façade specialist, we have evolved into an integrated group operating in a set of complementary and related fields of activity ».
During CDG Capital Private Equity’s holding period, Jet Contractors’ turnover has increased from 240 million MAD in 2009 to over 1.2 billion MAD and the number of employees has increased from 400 in 2009 to more than 1200 employees. This performance was made possible by the coalition of several key success factors: the expertise of employees, the attention allowed to partners and customers, the spirit of innovation and the will to always improve the company’s know-how.
Commenting on the exit, Hassan Laaziri, CEO of CDG Capital Private Equity, said: « Our experience with Jet Contractors is an excellent illustration of our philosophy of enhancing the growth of Moroccan companies and contributing to the dynamism of financial markets by preparing invested companies to their initial public offering. Jet Contractors’ sustained growth is the result of a clear and ambitious strategy, a visionary management and an effective governance. We are confident in the success of the strategic choices initiated by the group since 2013 and also in the sustainability of the favorable national dynamics ».