Vermeg Group welcomes a new shareholder
25th November 2013, Vermeg Group welcomes a new shareholder
Just weeks after signing a loan agreement with EBRD, Vermeg Group (" Vermeg ") has opened up to 15% of its capital to the group headed by Tarek Bouchamaoui through a capital increase intended to give Vermeg the financial means to accelerate the implementation of its ambitious growth strategy.
Vermeg is a software company specialized in fund administration and securities processing, founded in 2002 by Badreddine Ouali, who remains the largest shareholder and Chairman.
In 2012, Vermeg became the main shareholder in BSB International a Belgian company (" BSB "), and currently holds 29.9 % of its capital. BSB, listed on the NYSE Alternext stock exchange, is a software editor focused on life insurance, pension and healthcare, asset management and wealth management sectors.
Relying on the support of its financial partners, Vermeg aims to reach a critical size in the medium term, both through organic growth and acquisitions.
"This investment fits perfectly with our strategic diversification plan and confirms our commitment to supporting companies with high added value such as Vermeg and together we will pursue an ambitious growth plans." said Tarek Bouchamaoui who is at the head of an oil group active in several countries across MENA.
"I am pleased by the success of this operation and the trust that was given to us. We can now move on to the next phase and pursue our growth strategy." said Badreddine Ouali.
Swicorp, an investment bank focused on the MENA region, acted as the exclusive financial advisor to Vermeg in this transaction.