Helios Investment Partners, a leading private equity firm, focusing investments in Africa has acquired Oando’s remaining 25 percent interest in Axxela Limited, a sub-Saharan Africa’s preferred fast-growing gas & power portfolio company.
Helios in December 2016 aquired a majority stake in Axxela’s gas and power business enterprise and with the latest Oando’s divestment of the remaining 25 percent, Helios has now acquired the energy firm wholly.
Speaking on the transaction, Axxela Chief Executive Officer, Bolaji Osunsanya said: “While paying homage to our storied history and legacy, our recognition as being fully owned by Helios gives us global positioning, greater financial flexibility, and access to capital going forward. As a partner of choice, we have immense pride in the growth, robustness, and stability of our existing business enterprise, enabling us to spur the aggressive expansion of our footprint via our audacious growth initiatives in Nigeria and the West African region.”
Axxela recently achieved a series of “Firsts”: First private company to attain a shipper’s licence on the West African Gas Pipeline; First company in the Nigerian oil & gas space to simultaneously integrate and ISO Standards – ISO 9001:2015 (Quality Management Standard), ISO 14001:2015 (Environmental Standard) and ISO 45001:2018 (Occupational Health and Safety Standard); Achievement of its first ever Investment Grade Rating from GCR (Short- Term: A2; Long-Term: BBB+) and Agusto (Bbb).
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