PARIS, FRANCE: The EPC Group has finalized the purchase of a majority stake (75%) in the company NORMAT Services SA, first establishment of the group in Benin.
NORMAT was created in 2017 in Cotonou and initially focused on on mining drilling activities. Today the company, which has diversified its offer, realizes, in addition to blasting, the distribution explosives as well as geodesy operations by drone survey.
EPC bought back its stake in the IPDEV investment fund (Investors & Development Partners) up to 61% as well as 14% to other shareholders to increase its stake to 75%.
Narcisse Zola, founder of the company, now directly owns or indirectly 13.3% of NORMAT and continues to ensure the executive management. The balance of the capital is held by partners non-salaried minority interests.
This acquisition, which is fully in line with the core business of EPC will enrich its strategic positioning on the markets from West Africa.
The EPC Group is one of the pioneers in France in the manufacture of explosives. With around 40 subsidiaries located in around 20 countries around the world, the company is today a benchmark in the field of Explosives, Demolition and Drilling – Mining