Direct Co-Investments

LEON

LEON is a quick service restaurant chain based in the UK, with two stores in the Netherlands. The founders set out to prove that it was possible to serve fast food that both tastes good and does you good.
 

The menu is inspired by the flavors, variety and natural healthiness of Mediterranean cooking, and prices are reasonable, so that everyone can eat well. Spice’s investment will help LEON to pursue its growth plan in the UK and internationally.

Africa Oil corporation

Spice Private Equity has co-invested with Helios Investment Partners ("Helios") to acquire a significant minority stake in Africa Oil Corporation ("AOC"), an upstream E&P company in East Africa. Total Spice Private Equity contribution was USD 5.0 million.

AOC is a pioneering East African focused oil company with a footprint covering seven oil blocks across Kenya and Ethiopia, core target regions of Spice Private Equity investment strategy. AOC has a dual listing in the Toronto and Nasdaq Stockholm stock exchanges.

 

All involved partners have long standing track records in the region and in the industry. Helios is one of the most reputable and established private equity managers in Africa and has extensive experience with energy and particularly oil related reansactions in the region. Helios was founded in 2004 by former senior professionals of TPG Capital. Spice Private Equity has a long standing relationship with Helios' principals and it has made a commitment to its current fund. AOC's management team is highly experienced and is backed by the Lundin Group, a successful investor in the sector and in the region. AOC's operating partner is Tullow, a leading E&P group with worldwide operations and long standing presence in Africa.

 

The output of the Kenyan oil blocks under development is expected to importantly boost in the country's GDP. By investing through a structured transaction at an attractive part of the cycle, characterized by historically low prices, Spice Private Equity is entering a key industry for the region's development.


www.africaoilcorp.com

Photo: Nairobi, Kenya