RELEASE: PROPOSED ACQUISITION OF A SIGNIFICANT MINORITY EQUITY STAKE, UP TO 32%, IN BISEDGE HOLDING BY MCGF III MU BISEDGE INVESTMENTS

Published On - December 6, 2025

Registry ERCA Uncategorized

COMMUNICATION OF THE ECOWAS REGIONAL COMPETITION AUTHORITY ON THE NOTIFICATION OF A PROPOSED ACQUISITION OF A SIGNIFICANT MINORITY EQUITY STAKE, UP TO 32%, IN BISEDGE HOLDING BY MCGF III MU BISEDGE INVESTMENTS

1. Purpose of the Notification of the Proposed Acquisition

This Release provides formal notification of the proposed acquisition of a significant minority equity stake, up to 32%, in Bisedge Holding (the Target) by MCGF III MU Bisedge Investments (the Acquirer), through a subscription to newly issued shares (the Proposed Transaction). The notification is made in accordance with applicable merger control rules of the ECOWAS Regional Competition Authority (ERCA).

The Proposed Transaction forms part of the Target’s broader capital-raising plan to scale its material-handling and electric logistics solutions across Sub-Saharan Africa, with Nigeria as its current primary operational and revenue base.

2. Concerned Parties

The Acquirer

MCGF III MU Bisedge Investments is a Mauritius-based special-purpose investment entity established to hold investments for Metier Capital Growth International Fund III LP, a private equity fund advised by Metier Investment and Advisory Services (Pty) Ltd.

Metier operates across several ECOWAS member states through investments in telecommunications infrastructure, renewable energy, and related sectors. The Acquirer has no business activities in the electric logistics or material-handling equipment market, whether in Nigeria or elsewhere.

The Target

Bisedge Holding is a holding company incorporated in Mauritius. It owns and oversees the Bisedge group of subsidiaries operating across Sub-Saharan Africa. The group is engaged in the transformation of goods-movement and material-handling services—providing technical support, forklift operator training, equipment rental, and maintenance services in collaboration with Linde Material Handling.

Within the ECOWAS Community Market, the Target operates through Bisedge Limited, a Nigerian company that constitutes its principal commercial and revenue-generating arm.

3. Concerned Subsidiaries in the Acquisition

Subsidiaries Controlled by the Acquirer (Metier Group) in the Community Market

These include entities operating in telecommunications infrastructure and renewable energy, such as:

  • Africa Mobile Network companies in Benin, Côte d’Ivoire, Ghana, Guinea, Guinea-Bissau, Nigeria
  • Esco Energy Vision Nigeria Limited
  • Africa REN entities in Senegal

None of these subsidiaries operate in material-handling or logistics equipment markets.

Subsidiaries Controlled by the Target in the Community Market

  • Bisedge Limited (Nigeria)—the primary operating company of the Target, providing material-handling equipment and outsourced logistics services.

4. Expected Result of the Proposed Transaction

Strategic and Operational Outcomes

According to the parties, the Proposed Transaction is expected to:

  • Provide capital to expand the Target’s operations across Sub-Saharan Africa.
  • Enable acquisition of income-generating electric forklifts and related equipment to support long-term rental and outsourcing contracts with blue-chip customers.
  • Strengthen the Nigerian subsidiary’s market position and operational efficiency.

Economic and Market Outcomes

In addition, the investment is expected to:

  • Enhance logistics, warehousing, and supply chain efficiency in Nigeria and the ECOWAS region.
  • Promote infrastructure development, reduce operational emissions through deployment of electric logistics equipment, and support economic growth within the Community Market.
  • Contribute to job creation and skills development, including technician training and forklift operator certifications.

5. Rights of third parties

Pursuant to Article 44 (2) (a) (iv) of the ECOWAS Regional Competition Authority’s Manual of Investigation and Notification Procedures, third parties are invited to submit their comments to ERCA within thirty (30) days of the publication of this communication.

Such comments shall be accompanied by any documentation capable of substantiating the facts and analyses and sent confidentially to the following address:

ECOWAS Regional Competition Authority

Bertil Harding, Bijilo, The Gambia

P.O Box 4470

Or electronically at the following email address: registry@erca-arcc.org.