Helios Investment Partners, a leading private equity firm, announced that it generated approximately $460 million in realised liquidity in 2025. This significant milestone was achieved through multiple exits, including the successful listing of its portfolio company, T2S Group, on the Casablanca Stock Exchange. The T2S listing was a major highlight of the year, demonstrating Helios' ability to create value in its portfolio companies.
The T2S Group listing, announced earlier in 2025, raised MAD 1.1 billion, equivalent to approximately $120 million. The offering was oversubscribed 44 times, attracting strong demand from both Moroccan and international investors. The IPO valued T2S Group at around MAD 4.9 billion, or approximately $520 million. This successful transaction underscores the growth and potential of T2S Group in the MedTech sector.
T2S Group is a Moroccan MedTech company with over 30 years of operating history. The business has developed into an integrated platform spanning medical equipment distribution, manufacturing, digital systems, and technical services. T2S serves healthcare providers across Morocco and other African markets. Since Helios invested in T2S in 2021, the company has undergone significant transformation, integrating four complementary businesses into a single platform.
The integration of the four businesses has strengthened T2S' ability to provide services across the healthcare value chain. This includes equipment distribution, technical support, maintenance, and specialised medical technologies. T2S has also continued to contribute to the development of Morocco's healthcare ecosystem, supporting access to advanced medical technologies while investing in radiopharmaceutical capacity and local engineering and technical capabilities.
Following the IPO, Helios remains T2S' largest shareholder, with a 42% stake. The listing provides T2S with greater visibility and access to capital as it enters its next phase of expansion. For Helios, the transaction demonstrates the range of pathways available to portfolio companies as they mature. Public markets offer an opportunity to broaden the shareholder base and access new capital while allowing Helios to retain a significant stake in the business.
The $460 million in realised liquidity generated by Helios in 2025 reflects the firm's continued focus on building businesses with the scale, resilience, and institutional strength to attract their next pool of capital. This achievement highlights Helios' expertise in creating value in its portfolio companies and providing them with the necessary support to achieve their growth potential.
The successful listing of T2S Group on the Casablanca Stock Exchange marks an important milestone in the company's evolution from a leading Moroccan MedTech company into a broader, more integrated platform with ambitions across Africa. The transaction is a significant exit for Helios, demonstrating the firm's ability to generate substantial returns on its investments.
Key points
- Helios Investment Partners generated $460 million in realised liquidity in 2025 through multiple exits, including the IPO of portfolio company T2S Group.
- T2S Group's listing on the Casablanca Stock Exchange raised MAD 1.1 billion, equivalent to approximately $120 million, and valued the company at around MAD 4.9 billion, or approximately $520 million.
- Helios remains T2S' largest shareholder, with a 42% stake, following the IPO.
