Private equity fund Ascent Rift Valley Fund wants to acquire Limuru-based Auto Springs East Africa.
Auto springs, the makers of vehicle spare parts, including a variety of wiring harnesses, is expected to offer Ascent a foothold in the local market.
The deal, in partnership with SFC Finance Ltd, will offer finance for product expansion and factory improvements.
“SFC has come in as a debt partner and Ascent will provide equity,” said David Owino, a partner at Ascent Capital Advisory Services LLP.
