According to bank provided information, the proposed investment consists of up to EUR37 million senior loan package to Uni Confort Maroc – Dolidol SA (“UCM”, “Dolidol” or the “Company”), a leading manufacturer and distributor of polyurethane (PU) foam and bedding products. The Company was established in Morocco in 1972 by Berrada Sounni Family and expanded its geographical footprint in Cote d’Ivoire in 2014. Dolidol has a 45-years track record and is a trusted and quality provider of bedding products with internationally recognized accreditations (i.e., ISO 45001, ISO 9001, IATF 16949). As of December 31, 2020, Dolidol employs 1,000 people and has a logistic platform (17,000 sqm) and 150 trucks. It sells its products through a network of 1,100 distributors, 50 owned stores and 10 distribution facilities. Dolidol’s investment plans include (i) an acquisition in Nigeria, (ii) a greenfield plastic recycling capex in Morocco and (iii) installation of solar panels (1.25MW) on the Company’s industrial facilities in Morocco (the Project).
The cost of the Project is estimated at EUR42 million which IFC will support with a EUR37 million senior loan financing package comprised of up to EUR25 million A loan and up to EUR12 million parallel loan. Within the scope of the Project, IFC’s financing will be directly used to support Dolidol’s expansion in Nigeria and capital expenditures in Morocco.
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
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