Helios Investment Partners exits Axxela through sale to BlueCore Gas InfraCo

HIP Glover SCS, an investment vehicle of Helios Investment Partners, completed the sale of its 75% equity interest in Axxela Limited to BlueCore Gas InfraCo Limited, while Sojitz Corporation simultaneously divested its remaining 25% stake.

Completed on December 31, 2025, the transaction represents a landmark full exit for Helios, with Sojitz Corporation concurrently exercising its tag-along rights to divest its remaining 25% stake. The resulting transfer of 100% ownership to BlueCore concludes nearly a decade of Helios-led transformation, following its acquisition of the business from Oando Plc in 2016 for approximately US$45 million. During this period, Axxela evolved into West Africa’s leading private-sector gas and power platform, operating over 400km of pipeline infrastructure and supplying natural gas to more than 200 industrial customers across Nigeria and the sub-region.

Advisory Team: Banwo & Ighodalo