27 August 2025
Foursan Group, a leading Middle Eastern private equity firm, announced today the successful exit by its third fund, Foursan Capital Partners II (FCP II), of its significant minority stake in Polymedic.
FCP II co-invested in Polymedic with NBK Capital Partners in November 2019 and together they owned 98% of the company’s shares. In August 2025, FCP II and NBK Capital Partners fully exited their stake to a consortium of leading Moroccan businesspersons with substantial pharmaceuticals and healthcare expertise.
Founded in Morocco in 2001, Polymedic is a leading generics manufacturing company that owns a diverse portfolio of over 200 registered products across 12 therapeutic areas. Polymedic recently achieved record revenues and profitability. During the investment period, the company also grew its number of employees by 67% to 250 persons, 56% of whom are female, demonstrating the company’s focus on inclusive growth for all stakeholders. The company follows best-in-class environmental, social and governance (ESG) standards.
Nashat T. Masri, a Founding Partner at Foursan, commented on the transaction: “This is Foursan’s third exit of a regional pharmaceutical company. We are pleased with this transaction and the returns we generated for our investors. The company’s senior leadership team demonstrated exceptional skill in growing Polymedic’s sales and profitability despite the unique and significant challenges posed by the Covid-19 pandemic during 2020-2022. Shareholders and management also partnered closely to implement substantial ESG improvements.”
This is the first portfolio company exit of Foursan Capital Partners II.