{"id":654099,"date":"2024-10-28T00:00:00","date_gmt":"2024-10-28T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/28\/local-investor-snaps-up-minority-stake-in-simplex\/"},"modified":"2024-10-28T00:00:00","modified_gmt":"2024-10-28T00:00:00","slug":"local-investor-snaps-up-minority-stake-in-simplex","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/28\/local-investor-snaps-up-minority-stake-in-simplex\/","title":{"rendered":"Local investor snaps up minority stake in Simplex"},"content":{"rendered":"

Egyptian investor acquires minority stake in Simplex:<\/strong> An undisclosed Egyptian investor has acquired a non-controlling stake in local industrial machinery manufacturer Simplex<\/a> in an EGP eight-figure transaction, company CEO Ahmed Shaaban told EnterpriseAM, without disclosing further details. Shaaban also noted that previous negotiations with Elsewedy Electric CEO Ahmed Elsewedy over a possible EGP 50 mn stake acquisition had not been completed due to disagreements over the size of the stake.<\/p>\n

(Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n

Where is the money going?<\/strong> The funds from the agreement will be used to complete the construction of the firm\u2019s EGP 100 mn factory in Tenth of Ramadan City<\/a> \u2014 set to be completed by May 2025 \u2014 and fund R&D efforts aimed at producing new models of the company\u2019s computer numerical control (CNC) machines, Shaaban told us. The funds will also support Simplex\u2019s plans to expand into three new countries, including Tunisia, Morocco, and Algeria. The firm already operated in the UAE, Saudi Arabia, and Libya, he said.<\/p>\n

CNC machines? <\/strong>A CNC machine \u2014 short for computer numerical control machine \u2014 is a computer-controlled piece of machinery used in industry to cut and shape materials. CNC machines are good at dealing with complex and precise designs and repetitive tasks, making them an important tool in the manufacture of high-precision parts.<\/p>\n

Advisor:<\/strong> Exits MENA<\/a> served as buy side advisor on the transaction, the company announced<\/a> on LinkedIn.<\/p>\n","protected":false},"excerpt":{"rendered":"

Simplex will use the funds from the transaction to complete the construction of its EGP 100 mn factory in Tenth of Ramadan City<\/p>\n","protected":false},"author":1,"featured_media":654100,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7258],"tags":[72,131,8647,95],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-654099","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup-watch","tag-enterpriseam","tag-manufacturing","tag-simplex","tag-startup-watch","wpautop","entry"],"acf":{"mongo_id":"ac3dd2d7-eed2-46ab-ae48-ab1dcceec3d5","order":"8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/10\/2349.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egyptian investor snaps up minority stake in Simplex","related_issue":[654085],"teaser":"Simplex will use the funds from the transaction to complete the construction of its EGP 100 mn factory in Tenth of Ramadan City","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.de7aada0-0a88-46a6-9a09-993580892ad8.mp3"},"yoast_head":"\nLocal investor snaps up minority stake in Simplex - 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The transaction is\u2026","rel":"","context":"In "SPEED ROUND: M&A WATCH"","block_context":{"text":"SPEED ROUND: M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/7\/377.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":593008,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/14\/actis-engie-datang-in-the-running-to-acquire-stake-in-egypts-combined-cycle-power-plants\/","url_meta":{"origin":654099,"position":5},"title":"Actis, Engie, Datang in the running to acquire stake in Egypt\u2019s combined-cycle power plants","author":"enterpriseam admin","date":"14 November 2019","format":false,"excerpt":"Actis, Engie, Datang in the running to acquire stake in Egypt\u2019s combined-cycle power plants: Actis, France\u2019s Engie, and China Datang Overseas Investment are all competing alongside Blackstone\u2019s Zarou to acquire a stake in the Siemens \/ Orascom Construction \/ Elsewedy Electric combined-cycle power plants, according to Bloomberg. 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