Vantage Capital Injects $45 million to Help Egyptian Coatings Giant MIDO Release Capacity

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Africa's top mezzanine fund Vantage Capital announced a $45 million injection into Egypt's industrial leader, International Modern Coatings Group (MIDO), in one of Egypt's largest mezzanine debt deals to date.

Africa's top mezzanine fund Vantage Capital announced a $45 million injection into Egypt's industrial leader, International Modern Coatings Group (MIDO), in one of Egypt's largest mezzanine debt deals to date.

Financing Background and Core Objectives

The capital injection is Vantage Capital's third investment in Egypt and will be used to restructure MIDO's existing debt, replenish working capital and release dormant capacity at its massive facility in Alexandria. The funds will help MIDO expand local production and export scale, promote Egypt's economic development, generate foreign exchange income, and create jobs in manufacturing, R & D and logistics; at the same time, replace imported products with domestic high-quality coatings, and strengthen Egypt's industrial self-sufficiency.

MIDO Enterprise Strength and Industrial Advantage

MIDO was founded by Aly Ghaly in 1979 and has grown from a small car shop to a leading company in the field of continental European specialty paints and coatings. Today, its products cover the automotive, industrial, construction and other fields, more than 1200 categories, exported to more than 50 countries, Africa as the core market. The company has two vertically integrated factories covering an area of 47100 square meters and an annual production capacity of more than 100000 tons. It has built a complete manufacturing ecology from internal resin production to finished product packaging, and has strong competitiveness in terms of cost and quality.

Both sides position and future planning

Ramy Galal, CEO of MIDO, said that in the past 50 years, the company has formed core competitiveness in technological complexity, product quality and diversity. The main differentiation advantages include sound manufacturing infrastructure, R & D capabilities, distribution network and brand equity. Vantage Capital funds will give the company the impetus to release production capacity and accelerate the achievement of local and export growth targets, while praising the partners for understanding their business, sharing a common vision and executing efficiently.
Omar Gharbawi, deputy partner of Vantage Capital, pointed out that MIDO is a successful model of local pan-African industrial platform. The management has built the enterprise from scratch, making it one of the three major specialty coating enterprises in Egypt, and its products are sold in more than 50 countries. He said that despite global economic volatility, MIDO still has the strength to expand and has shown extraordinary resilience in macroeconomic and geopolitical headwinds, with solid fundamentals and industry knowledge.

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