Emerging Capital Partners (ECP) today announced that one of its portfolio, the Moroccan Infrastructure Fund (MIF), has exited its entire position in the highly profitable Osead Maroc Mining (OMM).

OMM is the controlling shareholder of Compagnie Minière de Touissit (CMT), the oldest lead producer and exporter in Morocco, specializing in exploration, extraction and processing of lead-silver ore and zinc-silver ore.

The exit comes as OSEAD, OMM’s parent company, increases its stake in OMM.

Since MIF’s participation in the $50 million acquisition of CMT in November 2007, CMT has expanded by actively pursuing growth opportunities across Africa. During its holding period, MIF assisted CMT in protecting its revenues against metal market volatility through the development of a dynamic hedging strategy.

In June 2008, CMT listed on the Casablanca Stock Exchange through the sale of 33 percent of its capital.

According to ECP in an official statement, “the IPO was a success with an oversubscription rate of 14x.”

The company has grown rapidly and realized a 27 percent average annual growth in revenues since listing, reaching $76 million and a net income of $42.5 million in 2011 leading to a market capitalization of more than $261.6 million in 2012.

Commenting, Nayel VIDAL, Director at ECP said: “Our partnership with OSEAD is a clear example of how we work with high potential, local companies such as OMM to help them achieve their next growth phase. Today, OMM’s investment is among the most profitable listed Moroccan companies and we wish the company well as it continues its regional expansion.”

ECP remains committed to North Africa and holds current investments in Tunisia’s leading producer of absorbent hygiene products, Société d’Articles Hygiéniques (SAH), Algerian insurance provider Générale Assurance Méditerranéenne (GAM), construction company Entreprise Marocaine de Travaux, and equipment leasing company Somadiaz.