Private equity is a type of investment class that involves the purchase of interests in private companies. While some investors may opt to purchase shares in publicly-traded companies such as those listed on the Nairobi Securities Exchange, private equity investors instead focus on acquiring controlling stakes in private companies, often referred to as "portfolio companies."
Kenya is the commercial hub for East Africa. The country’s capital, Nairobi, houses the headquarters of an esteemed list of local, regional and international companies and organizations.
In the field of corporate law, IKM has built a sound reputation for progressive counsel and is often involved in complex and novel transactions.
Our practice comprises a solid team of acclaimed lawyers noted for their wealth of experience. The practice cuts across several industries including: financial services, private equity, capital markets, telecommunications, energy, mining and infrastructure, education and technology.
Our key mandates comprise all manner of transactional assignments, assuring clients of well-rounded representation.
Experience has included advising:
- Cellulant Corporation on its series-C equity capital raising from The Rise Fund (TPG’s global impact investment fund), Endeavour Catalyst, EchoVC Africa, Velocity Capital, Progression Capital and TBL Mirror.
- The International Finance Corporation (IFC), in its investment in Britam Holdings Plc, a leading insurance and financial services group listed on the Nairobi Securities Exchange.
- CMC Holdings Limited in its acquisition by Al Futtaim Auto & Machinery Company through the capital markets takeover rules.
- NCBA Group Plc (formerly NIC Group Plc) and NIC Bank Kenya Plc in the merger with NCBA Bank Kenya Plc (formerly Commercial Bank of Africa Limited (CBA)) through a share swap.
- Four Bridges Limited, an investment firm which is part of the Ramco Group, in its acquisition of a minority stake in a local safari airline.
- Cummins in the joint venture transaction with Car & General (Trading) Limited, a leading supplier of generators, motorbikes, marine engines, construction equipment and a wide range of automotive and engineering products.
- Fanisi Venture Capital Fund S.C.A., SICAV – SIF and Dunbar Investments Limited in the sale of their 100% shareholding in Hillcrest Investment Limited to HIL Holdings Limited.
- Fusion Africa Holdings in the acquisition of various assets comprising of debt and shares in various investee companies in the East African region from a PE fund incorporated in Guernsey.
- Fanisi Capital Fund II LLC in its investment in Kitengela International School Company Limited, a company operating in Kenya’s high-end education sector.
- FPCI Energy Access Ventures Fund in its minority investment in Mawingu Networks Limted, an entity in the business of providing internet services in peri-urban areas in Kenya.
- Fusion Capital Limited in the sale of its 100% shareholding in Galaxy Gardens Limited to Optiven Limited.
- Ramco Plexus Limited, an investment-holding firm based in Mauritius and part of the Ramco Group, on the acquisition of Pressmaster Limited, Panthera Publishers Limited, International Paper and Board Supplies Limited and Sintel Security Print Solutions Limited, which are entities engaged in printing, packaging, bookbinding solutions and security printing.
- Compagnie Gervais Danone S.A., in its acquisition of a 40% stake in Brookside Dairy Limited, one of the leading dairy companies in East and Central Africa with subsidiaries in Uganda and Tanzania.
- Auto Sueco Kenya Limited, a member of Nors Group, in the sale of its business assets to NECST Motors across Kenya, Tanzania and Uganda.
- The International Finance Corporation (IFC), in respect of its investment in Britam Holdings Plc, a leading insurance and financial services group listed on the Nairobi Securities Exchange.
- CMC Holdings Limited in its acquisition by Al Futtaim Auto & Machinery Company (based in Dubai) through the capital markets takeover legal framework.
- “Private Equity Deal of the Year East Africa” (Deal Makers Awards 2019)
- Ranked in Commercial and Corporate (The Legal 500 2019)
- Ranked in Corporate/M&A (Chambers & Partners Global 2019)
On Friday 8th November, 2019, the President signed into law the Data Protection Act, 2019.
Africa’s economic outlook is on the up, with the African Development Bank in its 2019 African Economic Outlook report forecasting sustained rise in the average GDP (gross domestic profit) growth rate for the continent - from an estimated 3.5% in 2018 to 4% this year and 4.1% in 2020.
The Government of Kenya through the Cabinet Secretary for the National Treasury and Planning has, through Legal Notice Number 88 of 2019 dated 13th June, 2019 (copy attached for your reference), amended the Retirement Benefits (Occupational Retirement Benefits Schemes) Regulations, 2000 (the “Regulations”).
The Housing Fund Levy was proposed for implementation to support the President’s Big Four agenda in relation to housing.