An African-focused research fund investor bought an Ivorian security company promising to develop …
An African-focused research fund investor bought an Ivorian security company promising to expand the business.
Research capital in Africa (ASC), a research fund investor operating in Côte d’Ivoire, Senegal and Ghana, has purchased an Ivorian electronic security company.
Founded in 2008 by businessman Stephen Capraruolo, Falcon Security Center offers video surveillance and telematics to track assets.
As part of the deal, ASC Managing Partner Yves Biyah will assume the role of Managing Director of Falcon, while Capraruolo will remain with the company and retain a stake.
In a statement, Biyah hailed Falcon as “the market leader in electronic security in Côte d’Ivoire, integrating the world’s best technologies to deliver tailor-made solutions that enable customers to reduce costs, increase productivity and to improve safety “.
He said he and ASC would work with the existing Falcon team: “Together, we plan to evolve current operations and accelerate the deployment of new solutions in new customer segments and new geographies. “
ASC investors include companies and groups in Spain, Brazil, Ivory Coast and Mauritius. The investor received advice from the Abidjan office of the international Africa-focused law firm Asafo & Co, through lawyer Jamal Fofana, and associates Malick Cisse and Ophelia Pokou Mivedor, while Paris fiscal partner Arnaud de Brosses also advised.
Paris-based firm Spark lawyers also worked on the chord, just like PwCIvory Coast branch.
Biyah is a former PwC auditor in France, who also worked for a communications technology company Nexans, oil services company Schlumberger, L’Oreal and editor Young Africa, while he is a member of the advisory board of Invest in africa.
In March, Asafo & Co recruited an infrastructure and public law partner based in Paris, followed in June by two project finance partners in London. The law firm opened a new office in Washington, DC, in May.
An Ivorian health promoter recently received a loan from the UK’s export credit agency, while in July an agricultural waste energy project in the south of the country was supported by development finance agencies.
Côte d’Ivoire is one of four host countries for a new cross-border law firm DNA, which was launched in June.