Our Investments



In 2019, we invested in Oncorad, a private healthcare provider focused on oncology and radiology.  Oncorad was founded in 1999 by Pr. Redouane Samlali and Dr. Omar Hajji. Their first center was Clinique le Littoral which opened in 2000 in Casablanca. The success of Oncorad was built on a strategy focused on investing in advanced and innovative technologies to offer the best treatments for the patients. On the back of its reputation in Casablanca, the group founded in 2016 Centre d’Oncologie Majorelle in Marrakech and entred in 2018 in partnership with doctors to open a center in Agadir to serve patients in the south of Morocco. Still in portfolio

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SCE Chemicals

In 2019, we invested in SCE Chemicals, a leading company manufacturing specialty chemicals, fertilizers and other chemical inputs for industrial clients in Morocco and abroad. SCE Chemicals distributes products like sulfonic acid, silicates, alumina sulphate, powdered sulfur, sulphuric acid and other chemical inputs for the detergent industry. The company serves the Moroccan market but also exports its products abroad. Its client portfolio includes Unilever, P&G, Distra, and the National Bureau for Drinking Water (Office National de l’Eau Potable). Still in portfolio

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In 2019, we invested in Laboratoires Steripharma,  a well-established pharmaceutical business in Morocco by acquiring a stake in the company from several minority shareholders. Steripharma was founded in 1999 and has since developed a large portfolio of drugs with strong recognition among patients and practitioners. Steripharma has its own range of medicines (generics) and also produces/distributes drugs under license for leading international laboratories. Its product range covers major therapeutic areas, including infectiology and parasitology, cardiology, respiratory system, digestive system, dental care, ophthalmology and dermatology. Still in portfolio



In 2018, we invested in Trarem Afrique, the leading manufacturer and distributor of office furniture in Morocco. 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. Still in portfolio



In 2018, we invested in Maymana, a major Moroccan high-end catering company. Founded in 1985 by Mrs. Naima Berrada Benchakroun with the ambition to help empower women in Morocco, Maymana is today a major high-end catering company also operating in the bakery, pastry and fine grocery sectors. Since its creation, the company made sure to preserve both high and constant quality of its products. Maymana operates a chain of six stores located in Morocco and France, has 300 employees and makes c.MAD80m of annual turnover. Still in portfolio



In 2016, we invested in Techniques Science Santé (T2S), Morocco’s leading distributor of high tech medical equipment. For 25 years, T2S has been the leader in the distribution and maintenance of radiology (MRIs, scanners) and radiotherapy equipment (accelerators for oncology) and has today the largest installed base in Morocco. It has since broadened its product range and is now the one stop shop service provider for healthcare projects.  It is active in Africa since 2008 and has run projects in Mauritania, Ivory Coast and Mali. The company has revenues of c.m40€ and has 140 employees. Still in portfolio



In 2009, we invested in Marwa, Morocco’s leading fast fashion company. Marwa designs, produces and sells fast fashion apparel for women. Marwa’s strength lies in (i) its ability to design products that are more adapted to its customers than the European imports and (ii) its fast reactivity to fashion trends. The company’s number of stores has grown from 14 to 60. Marwa is also present in Bahrain, KSA, Algeria and Lybia and made €35M in revenues in 2015. Still in portfolio



In 2011, we invested in Decora, Morocco’s leading company in kitchen distribution. Initially, Decora was importing, distributing and installing kitchens for corporate clients. Since our investment, the company has built a manufacturing plant that produces kitchens locally. Decora also developed the B2C channel to access the customer directly. The company benefits form the growing market of home improvement. In 2015, the company’s turnover reached €12M.


Buzzichelli Maroc

In 2013, we invested in Buzzichelli Maroc, the Moroccan leader in industrial assembly. The Group has developed several busineses (cement, energy, mining,..) and its activities cover Morocco and Africa through business units and several subsidiaries. The Group has participated in major projects in Morocco and Africa.

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Jet Contractors (Jet Alu Maroc)

In 2009, we invested in Jet Alu Maroc (Currently “Jet Contractors”), one of the leading players in construction in Morocco. During our holding period, the company has developed several businesses related to building activities. The Group operates several sites in Morocco and Europe and has participated in major projects in Morocco and Africa. The company was successfully listed in 2011 and is expanding its activities on the african continent. In October 2017, CDG Capital Private Equity sold its investment in Jet Contractors through a sale of shares on the Casablanca Stock Exchange.



In 2010, we invested in Intelcia, Morocco’s leading outsourcing operator. In a leveraged build up, the company acquired several competitors both in France and Morocco to grow and get access to new customers. Our build up enabled the company to grow its number of positions from 850 to 3500. The company is currently operating 10 sites and is opening new sites in Sub Saharan Africa. The company made €70M revenues in 2015. In december 2016, CDG Capital Private Equity has exited Intelcia, in favor of Altice, a multinational group operating in telecommunications, content and media.



In 2012, we invested in BPMI, a leading manufacturer of concrete floor and ceiling solutions. The company invested in a new facility to provide a new type of products for large construction projects. The new solutions enable customers to build safer and more cost effective buildings.



In 2002, we invested in HPS (Hightech Payment Systems), Morocco’s leading payment software company, providing electronic payment solutions for financial institutions. We accompanied HPS in its different development stages until its listing in December 2006. Since its initial public offering until December 2013, we have gradually sold our investment on Casablanca Stock Exchange.



In September 2003, we invested in Finapack, a Moroccan packaging company. After a build up with CMCP, we sold our participation in the industry leader in 2005 to International Paper, the worldwide leader in packaging and paper industry.



In 2006, we invested in Aixor, holding that operates several businesses including printing, media and industrial distribution. Since our investment, the holding has continued developing new businesses and executing several acquisitions particularly in industrial goods and services. In December 2010, we sold our stake to the group founder and other investment funds.


Newrest Maroc Services

In 2007, we invested in Newrest Maroc Services, the Moroccan leader in catering. Since the investment, Newrest Maroc Services has won several cateringcontracts with major public and private Moroccan groups. It has also developed its operations in Mauritania. In October 2012, we sold all our participation to our partner Newrest Group, a global leader in multi-sector catering and who employs 28 000 people in 50 countries.



In 2006, we invested in Juice & Nectar Partner in association with an industrial Moroccan promoter. Initially, JNP operated in the production and distribution of orange juice on the local market. After three years of activity, we shifted the business model to the exportation of organic citrus juices. The successfull development strategy enabled us to sell, in 2014, our participation to Holmarcom Group, one of the leading industrial groups in Morocco.


Aéronautique Sefcam

In 2003, partnered with a French operator to create Aéronautique Sefcam, a Moroccan company specialized in surface treatment for the European aeronautical industry. In 2008, we sold our participation to Segula Group.