Jamaica-based Sygnus Capital has entered into a strategic alliance with Aruba Wine & Dine, a release from Curacao Financial Group revealed.
Through its private equity fund, Sygnus Deneb Investments, the investment group acquired a sizeable shareholding interest in Aruba Wine & Dine. The forms part of the Sygnus’s efforts to increase both its portfolio and presence in the Dutch Caribbean.
According to co-founder and director Dr Ike Johnson, “Sygnus recognises Aruba as a stable economy with a strong hospitality industry, and Aruba Wine & Dine — being a significant player in the industry with nine restaurants, one piano bar, and a catering business — represents an attractive investment opportunity.”
In May 2018, Sygnus Capital acted as lead arranger/advisor for the acquisition of five supermarkets in Aruba, Bonaire, and Curaçao.
The supermarkets were acquired from Van den Tweel Groep by Alfabet Holdings Inc. The latter is an investment group owned by Jamaican entrepreneur Gassan Azan.
Sygnus provides customised financial solutions that include private credit, private equity, and real estate investments. It also provides wealth management, investment banking, and tax advisory services to clients across the Caribbean.
Curaçao Financial Group also played an integral role in the acquisition, acting on behalf of Aruba Wine & Dine.