Adenia Partners, a private equity firm investing in Africa, has completed the acquisition of Africa Biosystems Limited (ABL), a distributor of life sciences and clinical diagnostics equipment in East Africa. Financial terms of the deal have not been disclosed.
Established in 1999, ABL is headquartered in Kenya with subsidiary offices in Uganda and Tanzania. The Company’s instruments are used to conduct research and diagnosis across the animal, human and crop sectors with product applications that span molecular, cell and protein biology and DNA forensics. ABL’s customers fall into various end markets including government and non-governmental organisations, academic institutions, and the private sector.
Adenia will work together with ABL to expand its operations in its core East African markets, with a focus on accelerating its installed base of scientific instruments. Adenia will also help ABL establish a new management structure as well as improve its systems and processes to better capture opportunities in the life sciences market.
“At a time when the life sciences market in East Africa is expected to grow significantly due to rising healthcare needs, we are excited to invest in ABL, which has built a strong reputation in the region with its exemplary service and technical know-how,” says Martha Osier, Partner at Adenia. “We look forward to working together with the management team to capitalise on this growth, expand ABL’s customer base and take the business to the next level.”
Read more/Source: Private Equity Wire
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