MFS Capital Partners Limited (MFS), the private equity firm that was formed prior to the acquisition of Stocks and Securities Limited Ventures has made a major move to acquire 100% of Micro Financing Solutions.
The acquisition of Micro Financing Solutions has been in the talks for some time within MFS Capital, it was only a matter of time. Additionally, this acquisition fits within the business’s main aim of investing in opportunities that are poised for growth and have strong fundamentals.
MFS Capital CEO Dino Hinds stated at the company’s annual general meeting that this acquisition is the first one in line of many that are within the pipeline, as the company looks to invest in businesses within money services, investment banking, and real estate that has growth potential.
“We have outlined companies that we are interested in which are companies generating strong revenues and have the potential for significant growth and, therefore, the company met that criteria which is why we are going after it, as we are not interested in start-ups or companies in their earlier stage of development but ones that are more established. Therefore, any other company that we go after must fit in terms of our strategic plans,” he said.
Speaking to the plans for other acquisitions, Hinds said that deep negotiations were now underway with hopes for more entities fitting the criteria to be added from its active pipeline of potential companies.
“We are really excited about the future and the way forward and we are determined that we will become the premier private equity firm in the Caribbean.
“We have about 15 companies that we are looking at, in terms of acquisitions, and which we are in negotiations, and as we go through the process we are hopeful that we will close on a number of them. We are down the road with some more than others, so we are, therefore, expecting that by the first quarter of 2023 it will be really exciting and busy for us as we look to close on some of our targets,” Hinds said.
