I&M Burbidge Capital is pleased to announce the completion of Actis LLP’s sale of its majority stake in Mentor Management Limited, a leading project and construction management company in East Africa. The sale was concluded to Turner & Townsend, a multinational project management company based in the UK with offices across 40 countries in 6 continents. I&M Burbidge Capital supported Actis LLP as the sole corporate finance advisor for the transaction.
Actis, through its Actis Africa Real Estate Fund 2, sold its 79.5% stake in Mentor Management Limited to Turner & Townsend. Actis is a leading investor in growth markets across Africa, Asia and Latin America. The firm has raised US$13bn since inception across its focus sectors: energy, private equity, infrastructure, and real estate.
Mentor Management, founded in 1987, was the first Project Management business in East Africa. The firm has completed projects for leading global and local brands in the region which include: HSBC, Heineken, MasterCard, ICEA, Pfizer, Coulson Harney, Unilever, Financial Sector Development Africa, Cavendish-Uganda, Safaricom, BBC East Africa, Barclays Bank of Kenya, Commercial Bank of Africa, Kenya Commercial Bank and the Sarova Hotels.
The transaction was completed on 28th February 2018.