Catalyst said the deal was in line with its strategy of investing in emerging companies within high-growth sectors across eastern Africa.
The firm makes investments of between $5m and $20m per company with an average investment period of between four to six years.
Catalyst managing director Rajal Upadhyaya said, “We see great growth potential in EFFCO. We are impressed with the range and sophistication of services they offer blue chip companies across industrial, construction, mining and oil and gas sectors – all high-growth areas with significant demand and potential for the specialized best-in-class services and health and safety standards that EFFCO can provide.”
Catalyst’s other portfolio companies include Ethiopian bottled mineral water company Yes Brands Food & Beverages, which sold a 50 per cent stake to the firm in May last year.
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