We highlight five South African private equity deals over the past 12 months, as featured in our sister publication, Africa Private Equity News’Dealmaker’s Log – a database of reported investment deals, exits, and fundraising closes.
1. Gaia Fund Managers acquires AIIM’s stake in South African toll road operator
Gaia Fund Managers has acquired a 12.67% shareholding in Bakwena Platinum Corridor Concession, toll operator of the N4 and part of the N1 highways in South Africa’s northern provinces.
Gaia bought the stake following African Infrastructure Investment Managers’ exit of the investment held through its African Infrastructure Investment Fund 2. Read the full article
2. South Africa: Harith, Mergence and Zungu acquire infrastructure assets
Harith InfraCo, an infrastructure holding company, has acquired the Pan African Infrastructure Development Fund’s (PAIDF) stakes in a range of energy, digital infrastructure, and transport assets. Harith InfraCo is a strategic partnership between Harith General Partners, Zungu Investments, and Mergence Investment Managers.
Together with institutional investors, the partnership has taken over PAIDF I’s shareholding in AHL, CIVH, and Lanseria. Read the full article
3. Old Mutual Private Equity to acquire stake in South Africa’s Much Asphalt
Old Mutual Private Equity and Sphere Investments have concluded an agreement with Johannesburg Stock Exchange listed AECI to acquire 100% of Much Asphalt alongside the company’s management team.
The deal is valued at ZAR1.1 billion (about $62.7 million) and will be financed through a combination of debt and equity.
Much Asphalt is South Africa’s largest commercial manufacturer of asphalt and bituminous binders and emulsions, with its products principally being used in the road surfacing industry. Read the full article
4. Nedbank Private Equity in South African packaging deal
Nedbank Private Equity and the Mineworkers Investment Company have partnered to acquire a majority stake in South Africa-based Tropic Plastic and Packaging Industry.
As part of the transaction, the existing executive management team of Tropic also acquired a minority interest in the business. Read the full article
5. Metier Capital Growth Fund III invests in South African maize miller
Private equity firm Metier, through its Capital Growth Fund III, has made an investment into Blinkwater Meule, a vertically integrated maize meal producer and retailer in South Africa.
Blinkwater manufactures maize meal products exclusively under its own brands to meet the nutritional needs of millions of consumers predominantly residing in the Mpumalanga and Limpopo regions in South Africa. The business was established in 1995 by the Van den Berg family and has a unique distribution network, which includes its own logistics solution to about 325 corporate-owned retail stores in informal areas and independent wholesalers in the north-eastern provinces of South Africa. Read the full article
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