GIDNA partners with H&S Invest Holding to double in size

Following the green light from Morocco’s Competition Council, H&S Invest Holding has finalized its strategic entry into the capital of GIDNA, a leading construction and public works company. Initially set at 25%, the investment was ultimately increased to 33%, making H&S a reference shareholder alongside founder Zaid Lahbabi.

This acquisition marks a major milestone for both players, combining industrial expertise with financial structuring to elevate GIDNA into a new phase of expansion—targeting double-digit growth within five years and preparing for a future stock market listing.

A Growth Alliance with a 2030 Vision

Founded in 2006, GIDNA has built a solid reputation across Morocco for its expertise in TCE (All Trades) construction, operating in key verticals such as:

• Industry: factories, warehouses, technical infrastructure

• Logistics: terminals, distribution centers, platforms

• Education: schools, universities, vocational training centers

• Healthcare: hospitals, clinics, medical centers

• Sports: stadiums, training centers, multi-purpose halls

With 1,800 employees and a 2024 turnover of MAD 620 million, GIDNA is aiming for a structural leap forward, relying on the support of H&S to enhance its financial and operational backbone.

“We are delighted to welcome a leading economic player into our shareholding structure. Together, we are launching a shared 2030 vision of growth and development. We are counting on H&S Group’s support, its subsidiaries, and its management to get there,” stated Zaid Lahbabi, who will remain in charge of strategic and operational leadership.

A Strategic Expansion for H&S Invest Holding

This transaction aligns with the broader strategy of H&S Invest Holding, a diversified investment group founded in 2005. Through a combination of organic growth and acquisitions, H&S has developed a multi-sector ecosystem, organized around five key business units:

• Industry & Distribution (via Dislog Group)

• Logistics & Transport (via Building Logistics Services – BLS)

• Media, Content & Marketing (via WB Africa and Horizon Press)

• Real Estate & Construction (via Kaya Immobilier and now GIDNA)

• Retail & Proximity Commerce (via H&S Retail)

“GIDNA is a key player in Morocco’s private construction sector. We’re proud to become a strategic partner and support the company in scaling up. Beyond commercial synergies, we’ll focus on financial structuring to help GIDNA prepare for a public listing,” said H&S Invest Holding in a statement.

H&S employs 5,200 people and operates in both Morocco and Europe, with a unique approach as a “Full Service Provider”, spanning the entire value chain—from production to the consumer’s basket. The group manages a portfolio of over 100 brands and continues to expand through targeted investments.

A Well-Structured Transaction

The transaction was legally advised by Hilmi Law Firm, confirming the level of legal and financial maturity that characterizes H&S’s operations. The deal also reflects a trend in Morocco’s mid-market: family-founded companies with strong technical know-how partnering with structured investment groups to gain scale, governance, and access to capital markets.

In summary, this partnership between GIDNA and H&S Invest Holding signals a strategic move in Morocco’s construction sector. By combining operational expertise with strong financial support, the two companies aim to build a national champion capable of delivering complex infrastructure projects—while laying the foundations for regional expansion and future public offering.