Asset management company, The Carlyle Group, has acquired a majority share of the pan-African network connectivity provider, CMC Networks.
Investec Equity Partners, represented by CMC's board member, Richard Tunstall, is set to sell its stake in the company, whilst the founder and management team will invest along with Carlyle. The transaction, subject to regulatory approval, is expected to close in the first quarter of 2017.
This will be the seventh investment, and the second this year by Carlyle's committed sub-Saharan Africa Fund.
