London leads global team advising Development Partners International on acquisition of Solevo Group

Global law firm Norton Rose Fulbright has advised Development Partners International (DPI), on its acquisition of Solevo Group (Solevo) from Africa-focused investment firm Helios Investment Partners (Helios). Solevo is a leading pan-African distribution platform for specialty chemicals and fertiliser.

The Norton Rose Fulbright team was led by London-based corporate partner Bayo Odubeko with assistance from senior associate Matthew Eccles (corporate), associates Ashleigh Lister and Katherine Qiu (corporate) as well as partners James Dunnett (banking), Michael Alliston (tax), Matthew Findley (incentives), Saskia Blokland (Netherlands), Mark Griffiths and Marta Giner (competition), counsel Arnaud Sanz (competition), senior associates Rogier de Haan and David de Roos (Netherlands), and associates Laura Adams (banking) and Ed Spilman (tax).

Bayo Odubeko said:

“We are very pleased to have supported our client, Development Partners International, on this significant acquisition. The transaction shows the maturing of African private equity with one of the continent’s leading private capital managers buying out another in a big-ticket secondary with management of the target rolling over. Congratulations to an excellent and committed DPI team and gratitude to my Norton Rose Fulbright colleagues on another fantastic effort on a major African M&A transaction.”

Norton Rose Fulbright has advised on deals in Africa across all major industry sectors for more than 30 years, advising both on transactions and on-going commercial operations. The firm’s role on the acquisition of Solevo follows on the heels of its roles advising the buyers in the recently closed acquisition of Lekela Power by Infinity and Africa Finance Corporation and the acquisition of Union Bank of Nigeria Plc by Titan Trust Bank.

The dedicated Norton Rose Fulbright Africa practice has one of the largest legal footprints in the region of any international law firm and is ranked ‘Tier 1 – Emerging markets’ in the Legal 500 UK 2023.