Egypt-based financial services company, GlobalCorp, is preparing for a potential full or majority sale, with anchor investors looking to exit in a private transaction that could close within the next two to four months. This is a private placement, meaning new investors will buy out existing ones behind the scenes, possibly taking up to 100% ownership.
The company is reportedly opening its books to interested bidders. It has kicked off due diligence on bidders, with a local publication reporting that the deal could be valued at $200 million. GlobalCorp’s interest is already strong, with a mix of strategic and financial investors circling the deal, according to local publication EnterpriseAM.
The business behind the deal: Launched in 2015, GlobalCorp offers non-banking financial services including direct and operating leases, consumer finance, and structured solutions for commercial, retail, industrial, real estate, and equipment sectors. It essentially helps businesses access working capital and individuals access credit outside traditional banking rails.
It was sold once, now it’s being sold again: This exit will be GlobalCorp’s second within five years. In 2022, a group including SPE Capital, Amethis, and the European Bank for Reconstruction and Development acquired a majority stake, valuing the company at around EGP 914 million ($17 million). This current sale is the next handover in that cycle.
Non-bank financial players like GlobalCorp grow by deploying capital at scale, which means they constantly need fresh funding to expand. That naturally creates an ownership cycle where investors come in, grow the balance sheet, and exit once the company reaches a new level of maturity.
GlobalCorp also sells its receivables and debt as bonds to investors (factoring), enabling it to raise immediate cash to improve working capital. On Monday, it closed its latest EGP 1 billion ($18.6 million) short-term bond issuance.
How the sale works: The company will open a secure virtual data room this week, uploading financial statements and internal reports for interested buyers to review, alongside process letters laying out the next steps.
If this sale lands anywhere near the reported $200 million mark, GlobalCorp has significantly increased in value since 2022.