Adenia Partners, a private equity fund manager focused on West Africa and the Indian Ocean region, has acquired Mauritius-based Mauvilac, a paint, coatings and chemical products manufacturer and marketer, from the company’s founders and other Mauritian shareholders. The transaction was structured through Adenia Capital (III), a US$125 million fund that closed in February 2012. Mauvilac intends to pursue growth opportunities through further exports and international partnerships. Financial details of the transaction were not disclosed.