August 5 th , 2022- SPE Capital Partners is pleased to announce the signing of an agreement
to sell a controlling stake in Sotipapier, the leading paper packaging manufacturer in Tunisia,
to Sango Capital. In addition to acquiring a majority stake in Sotipapier, Sango Capital plans
to proceed to a tender offer in accordance with regulations in force. This agreement remains
subject to the obtention of the required authorizations from the competent authorities.
Sotipapier was founded in 1981 and is the leading paper packaging manufacturer in Tunisia.
The company manufactures and sells Kraft paper, test liner and fluting paper, mainly serving
the cement and cardboard manufacturing sectors. Sotipapier was the first investment of Intaj
Capital II (the “Fund”) and now its second exit. It is an example of how SPE Capital seeks to
have a transformative impact on companies while creating value for its investors, by
acquiring a controlling stake, putting in place a high caliber management to drive growth and
enhance operations, improving governance and optimizing capital structure through financial
engineering. Since its acquisition, Sotipapier has been listed on the Tunis Stock Exchange
and has seen its revenues and profits increase four-fold. The company has also increased
its impact in the communities at large by implementing consequential environmental
enhancement projects, investing heavily in the collection and recycling of locally sourced
wastepaper and launching several CSR initiatives.
Nabil Triki, managing partner and CEO at SPE Capital stated: “Since its acquisition,
Sotipapier has undergone a profound transformation, allowing it to upgrade production
capabilities, strengthen management team and improve governance and social climate. The
team is very proud to have supported the company to achieve its growth plans. Looking
forward, we are confident Sotipapier will continue to thrive and has the potential to develop
into an integrated, pan-regional leader in the paper packaging sector”.
The SPE Capital team was led by Hela Hariz, Ghita Karoum and Dora Meoto.
Created in 1981, Sotipapier is a manufacturer of Kraft paper, test liner and flute paper based
in Tunisia. The company mainly serves the cement and cardboard manufacturing sectors.
Sotipapier has been working through its social responsibility program for the protection and
preservation of the environment for a very long time. In 2020, it created the "Sotipapier
s'engage" platform to bring together all the associative projects it supports.
For more information, please visit: https://sotipapier.com
About SPE Capital
Founded in 2016, SPE Capital is an independent Private Equity firm focused on Africa and
the Middle East. SPE Capital is led by an experienced on-the-ground investment team, with
strong local knowledge and a proven track record of investing in growth companies. With
offices spanning across the region, SPE Capital has a thorough understanding of
businesses in the region and strives to apply best international practices and governance
standards. SPE Capital is a signatory to the United Nations Impact Principles, an investor
initiative developed by the UNEPFI and the UN Global Compact and supports the “2X
Challenge” – an initiative of development finance institutions of the G7 countries.
For more information, please visit: www.spe-capital.com
About Sango Capital
Sango Capital is an investment management firm focused on delivering superior risk-
adjusted returns from fund and direct investments in Africa.
Established in 2011, the firm invests capital for global investors including sovereign wealth
fund, pension, endowment, foundation and family office clients. The firm’s strategy combines
international best practice skill sets with deep local networks and a dedicated, on-the-ground
presence to unlock unique mid-market focused investment opportunities in Africa.
For more information, please visit: https://www.sangocapital.com/