Cairo, Egypt – March 2025 – A consortium of investors led by SPE Capital (SPE), through its Private Equity Fund III (PEF III), and including the European Bank for Reconstruction and Development (EBRD), Proparco (the French development finance institution), and the Belgian Investment Company for Developing Countries (BIO), today announced the closing of its investment in Orchidia Pharmaceutical Industries S.A.E., a leading ophthalmic pharmaceutical manufacturer operating in Egypt and across the Middle East and Africa.
Orchidia, operated through a European holding company, was founded in 1993 by Dr. Ossama Abbas and has established itself as a leading manufacturer of ophthalmic products in Egypt and the MEA region, exporting to over 20 countries. The company produces nearly 100 registered eye care products using advanced Blow-Fill-Seal technology and was the first in Egypt to introduce single-dose unit forms.
This transaction marks the second partnership between SPE Capital and the Abbas family. SPE has a longstanding relationship with Orchidia, having previously invested in the company through one of its managed vehicles from 2013 to 2017. This partnership proved successful for both parties and saw significant growth in the company’s market position and export capabilities. The current investment represents a renewal of this longstanding partnership, combining SPE’s operational expertise with the support of three leading development finance institutions. The Abbas family will continue to lead the company, ensuring continuity of the strong leadership that has driven Orchidia’s success. The partnership between the Abbas family, SPE Capital, EBRD, Proparco, and BIO will support the company’s vision of becoming the leading regional player in ophthalmology, while maintaining its commitment to providing high-quality, affordable medicines to patients across Egypt and the region.
The participation of EBRD, Proparco, and BIO alongside SPE Capital reflects the transaction’s strong development impact potential, including job creation, pharmaceutical sector development, and improved access to quality healthcare across the region. The investment aligns with the development finance institutions’ commitment to supporting competitive private sector companies, contributing to employment opportunities, and improving access to essential medicines.
The investment consortium teams were led by:
- For SPE Capital: Mehdi Charfi, Tarek Lababidi, Aya Mostafa Mahdy, Samir Tinawi
- For EBRD: Menna Zekrallah, Hassan Massoud, Yahia Lotfy, Youssef Oraby.
- For Proparco: Tibor Asboth, Claire Devey, Yann-David Yao, Negretti Ximena, Bernard-Srinivasan Sylvaine
- For BIO: Olivier Toussaint, Jonathan Walton, Fran?ois-Xavier Come, Grace Nonneman, Giulia Baconcini
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About Orchidia Pharmaceutical Industries
Orchidia Pharmaceutical Industries S.A.E. specializes in ophthalmic pharmaceuticals with a state-of-the-art production facility in Cairo, Egypt. The company maintains a leading position in Egypt's retail ophthalmic drugs market and has built a strong international presence across the Middle East and Africa. For more information, visit https://orchidiapharma.com/en.
About SPE Capital
Founded in 2016, SPE Capital is an independent Private Equity firm focused on Africa. SPE Capital is led by an experienced on-the-ground investment team, with strong local knowledge and a proven track record of investing in growth companies. With offices spanning across the region, SPE Capital has a thorough understanding of businesses in the region and strives to apply best international practices and governance standards. SPE Capital is a signatory of the Operating Principles for Impact Management, a framework for investors ensuring that impact considerations are purposefully integrated throughout the investment life cycle
About the Development Finance Institutions
European Bank for Reconstruction and Development (EBRD) is an international financial institution that supports the development of market economies in its countries of operation through investments, business services, and policy engagement. EBRD invests in sectors including financial institutions, energy, manufacturing, and infrastructure.
Proparco is a French development finance institution that promotes sustainable economic growth in Africa, Asia, Latin America, and the Middle East by financing companies and financial institutions. Proparco focuses on sectors that are crucial for development, including financial institutions, infrastructure, agriculture, health, and education.
BIO is the Belgian Development Finance Institution and investment arm of Belgian international cooperation. It supports the growth of a strong, locally anchored private sector in Africa, Latin America, Asia, and Ukraine. BIO’s investments create jobs and generate local tax revenues, attract additional private investments, focus on sectors often lacking access to capital and respect local priorities. Priority areas include sustainable agriculture, local value chains, renewable energy, and inclusive financial services, with special attention to women’s economic inclusion. For more information: www.bio-invest.be
This press release contains forward-looking statements regarding the parties’ expectations and plans. Actual results may differ materially from those projected.”