Amethis Buys Majority Stake in Côte D’Ivoire’s Ademat

Key Takeaways

• Amethis now holds majority of Ademat after buying SPE Capital.
• Ademat expanded into gas generators and solar panels since 2021.
• New ownership aims to scale low‑carbon energy across West Africa.
• ERP and digital upgrades improve Ademat’s operational efficiency.
• Deal highlights private‑equity confidence in African power markets.

Summary

Amethis has acquired a majority stake in Côte d’Ivoire‑based power security provider Ademat, buying out SPE Capital’s controlling position. Founded in 1983, Ademat now offers the full value chain from generation to maintenance, including gas‑powered generators and solar panels. Under SPE Capital since 2021, the firm launched its own brand, modernised ERP systems and digitised commercial processes. Amethis will partner with CEO Christophe Giovacchini to scale the business and accelerate low‑carbon energy solutions across West and Central Africa.

Pulse Analysis

Africa’s power landscape is at a crossroads, with rapid demand growth and persistent reliability gaps driving a wave of private‑equity activity. Investors are increasingly targeting firms that can deliver both grid‑connected and off‑grid solutions, especially those that blend traditional generation with renewable technologies. The continent’s energy deficit, estimated at over 600 million people lacking electricity, creates a sizable market for companies that can provide resilient, scalable power security. As governments tighten emissions targets, capital is flowing toward assets that can support a low‑carbon transition while safeguarding supply continuity.

Ademat, founded in 1983, has evolved from a conventional power‑equipment supplier into a full‑stack provider of power security solutions across Côte d’Ivoire. Under SPE Capital’s ownership since 2021, the firm launched its own brand, added gas‑powered generators and solar panel offerings, and overhauled its back‑office with an ERP system and digital commercial processes. The acquisition by Amethis gives the company a majority shareholder with deep regional networks and access to international capital. Together with CEO Christophe Giovacchini, Amethis plans to accelerate product diversification, expand into neighboring markets, and pivot the business toward low‑carbon energy projects.

The transaction underscores a broader trend of private‑equity firms seeking to lock in long‑term, infrastructure‑linked returns in Africa’s energy sector. By backing a company that already blends fossil‑fuel generators with renewable assets, Amethis positions itself to benefit from the continent’s shift toward hybrid power models that can meet immediate reliability needs while reducing carbon intensity. For investors, the deal offers exposure to a market where regulatory reforms, such as Côte d’Ivoire’s recent renewable‑energy incentives, are creating a more favorable investment climate. If Ademat can successfully scale its low‑carbon portfolio, it could become a template for similar roll‑outs across West and Central Africa.