Africa Capitalworks has announced new equity investment in Dorman Long Engineering Limited to support its next phase of growth.

Africa Capitalworks is part of the Capitalworks Group, an independent alternative asset manager concentrating in emerging markets with over $1bn in assets under management.

Dorman Long Engineering Limited, established in Nigeria in 1949, is an oilfields equipment, structural steel, marine structures engineering and fabrication company.

Managing Partner of ACW, Nana Sao, said, “We look forward to partnering with the DLE team to support its next phase of growth.

“DLE has built a strong reputation over 70 years of operating in Nigeria and its manufacturing facilities have internationally recognised quality and product certifications.

“We are thrilled to support DLE’s accomplished management team in this dynamic sector.”

DLE Chairman, Dr Timi Austen-Peters was quoted as saying in a statement by ACW, “This investment marks the start of a new journey for Dorman Long, and I am delighted in the vote of confidence executed by our partner, ACW.

“The hard work, focus and dedication of our team during this process further showcases the depth of our capacity and our resilience to overcome economic challenges, including cyclical oil prices, the COVID-19 pandemic and the business environment in Nigeria.

“We have partnered with ACW based on its complementary skillset, strategic insights and differentiated value proposition as a permanent capital vehicle.”

He added that the company looked forward to accelerating the implementation of its growth plans and expanding its rich range of capabilities and geographical presence.

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