Helios acquires Axxela’s Oando gas firm

Africa’s Sub-Saharan gas and power portfolio company, Axxela Limited, has announced its formal acquisition by Helios Investment Partners.

The acquisition was completed yesterday sequel to Helios acquisition of Oando’s remaining 25 per cent interest in Axxela.

Helios Investment Partners is a leading private equity firm with focus on investments in Africa.

Helios had initially purchased a majority stake in Axxela’s gas and power business enterprise in December, 2016.

Following Oando’s divestment, Helios is now the sole principal investor in Axxela, with a 100 per cent ownership.

Speaking on the transaction, Axxela’s Chief Executive Officer, Bolaji Osunsanya, said, “While paying homage to our storied history and legacy, our recognition as being fully owned by Helios gives us global positioning, greater financial flexibility and access to capital going forward. As a partner of choice, we have immense pride in the growth, robustness, and stability of our existing business enterprise, enabling us spur the aggressive expansion of our footprint via our audacious growth initiatives in Nigeria and the West African region.”

Axxela recently achieved a series of “firsts”. First private company to attain a shipper’s licence on the West African Gas Pipeline; First company in the Nigerian oil and gas space to simultaneously integrate ISO Standards – ISO 9001:2015 (Quality Management Standard), ISO 14001:2015 (Environmental Standard) and ISO 45001:2018 (Occupational Health and Safety Standard); achievement of its first ever Investment Grade Rating from GCR (Short- Term: A2; Long-Term: BBB+) and Agusto (Bbb).