RMB advises Affirma Capital on equity stake exit

MEDIA RELEASE

20 DECEMBER 2023

RMB advises Affirma Capital on the sale of its equity stake in GZI

Independent emerging market-focused private equity firm Affirma Capital has exited its 37.5% equity stake in beverage and aluminium can manufacturing business GZ Industries Limited (GZI) to majority shareholder Oppenheimer Partners. RMB acted as financial advisor to Affirma Capital on the deal.

GZI is a leading manufacturer and producer of premium-quality aluminium cans for global blue-chip beverage brands in Africa. The Group supplies beverage cans into key regional markets across sub-Saharan Africa.

“This transaction demonstrates the capacity for significant exits in the sub-Saharan Africa private equity market despite the macroeconomic backdrop, and further entrenches RMB’s sell-side expertise and capability to help clients unlock value from their investments. RMB was able to deliver an optimal outcome to Affirma Capital, despite the challenging macroeconomic and forex environment. We have a longstanding relationship with GZI, having provided multi-jurisdictional, multi-currency debt facilities in the past and are pleased to support the company on the next phase of its growth journey,” says Chidi Iwuchukwu, Head of Investment Banking for Broader Africa at RMB.

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