Abdeslam Ababou's Columbus 1 fund invests in the Eriser irrigation company

Abdeslam Ababou, founder of Red Med Capital Equity. Credit: MAP

With this investment, Red Med Private Equity aims to benefit from Eriser’s expertise in managing large hydraulic projects and provide the company with the resources to tackle the global water value chain.

Eriser, a company specialized in irrigation professions, has welcomed into its capital the investment fund Columbus 1, an organization for collective capital investments (OPCC) committed to supporting entrepreneurs, small and medium-sized businesses and national ETMs in their development projects.

Abdeslam Ababou, president of Red Med Private Equity (RMPE), quoted in the press release, said: “Through this investment, the Columbus 1 Fund is part of national initiatives to manage the risks associated with water stress, providing Eriser with financial, industrial and technological capabilities that will strengthen its national and regional presence in ‘local irrigation’ water sector, drinking water management, hydromechanical equipment and pumping stations, solar pumps and desalination’. The development project also includes an industrial integration of Eriser, giving it the autonomy and capabilities necessary to accelerate the development of its activities.

“The industrial integration project will enable ERISER to internalize the production of almost 35% of its equipment and input purchases, thus increasing its level of autonomy and its ability to tackle a broader spectrum of hydraulic projects.” said Zouhair Seffar, founder and director of Eriser.

Furthermore, the Columbus 1 fund plans to support the company in its industrialization process, while consolidating its DNA as a family-owned, environmentally responsible and socially committed company.

“In addition to the strategic and financial rationale, our investment is also aimed at supporting Eriser in its transition to best-in-class operating and governance standards, implementing an ESG strategy to enable Eriser to ultimately position itself as a national player and regional leader in the field of management of water-related projects”, said Mohamed Nasset, CEO of RMPE.

The ERISER company, founded in 1992, is one of the oldest and largest irrigation companies in Morocco. The main activities are hydraulic studies of irrigation projects, including internal developments on the plot, as well as hydro-agricultural developments of external irrigation networks, namely irrigation terminals, filtration, desalination and pumping stations, etc.

RMPE is a management company specialized in supporting Moroccan companies and their development. Through the OPCC Colombus 1 fund with a maximum target size of 1.1 billion dirhams, RMPE invests investment tickets aimed at companies operating in sectors related to local consumption.

Red Med Private Equity is a subsidiary of Red Med Capital, an independent investment bank founded in 2004 that is active in all capital market activities (Asset Management – Corporate Finance – Private Equity – Securities – Real Estate).