Delmas Investissements et Participations (DIP) and the Delmas family have signed a transfer agreement for their Caterpillar dealership activity to a consortium conducted by Ivorian entrepreneur Jean-Luc Konan
Included in the sales is JA Delmas and its network of African representative companies in charge of sales and after-sales in 11 West African countries.
Jean-Luc Konan, who will be named the new regional dealer by Caterpillar at the end of the operation, created the COFINA Group in 2013, a meso-finance institution recognised leader in western and central Africa in financing small and middle-sized companies. COFINA Group currently employs close to 1,500 people and is present in nine countries: Senegal, Cote d’Ivoire, Burkina Faso, Mali, Guinea, Togo, Gabon and Congo with a representative office in France.
Konan will bring to this new role jointly developed financing solutions that will enable local small and middle-sized companies (SMCs) to strengthen their participation in the development of West African infrastructures, while maintaining their knowledge of the economic structure and specific needs of companies within this area.
Hervé Delmas, chairman of the board for DIP, said, “After 90 years representing the Cat brand, we are proud of our accomplishments which enabled us to be a leading equipment goods distributor in West Africa. It is therefore with great confidence that we hand over to Konan, wishing him the best success for the years to come. The Delmas family’s entrepreneurial activities in Africa will carry on in the fields of energy (with Africa Power Services), equipment handling (Manutention Services) and handling, lifting and transport equipment rental.”
Konan commented, “With these acquisitions of reference enabling us to build a group employing over 2,000 people with an expected turnover of 700 million euros, we are taking over the flag of the Caterpillar representation and will strive to contribute actively to the economic development of West Africa pursuing the dealer transformation, with the help of the current management team on board the new organisation, into a service company with a higher added value and even closer to our customers.”
This transaction is a result of market evolution and a strategic process leading to implementing a transformation plan towards governance anchored on the African Continent. One of the focuses of the operation will be to implement maintenance infrastructures including a new world class component rebuild centre to better serve customers.
This operation is expected to be finalised in the next few weeks.