Ethos Celebrates 25 Years Of Successful Investing And Announces New Chairman
Ethos Private Equity celebrated its 25th anniversary at an elegant function in Houghton last night and announced the appointment of new non-executive chairman, Peter Mageza, who is replacing Fred Phaswana.
Established in 1984, Ethos has played a pioneering role in the growth of the private equity sector and has consistently retained its position as the top private equity firm in South Africa in the PricewaterhouseCoopers Strategic Banking Survey.
Founding partner and CEO AndrÃ© Roux said:
“We are proud to celebrate our 25th anniversary. Ethos represents a unique combination of essential characteristics which have driven our success over the years. In an industry where stability, reputation and track record are paramount, I am delighted to share this milestone with colleagues and business partners alike, and collectively thank all those who have committed and contributed to the Ethos franchise.”
Commenting on the appointment of Peter Mageza as Chairman, Andre added:
“Peter brings considerable depth of experience and proven leadership to the Ethos Board. At the same time, I would like to pay tribute to Fred Phaswana, and thank him for his invaluable guidance and commitment to positioning Ethos for the future.”
Peter Mageza was previously Group Operating Officer of ABSA until the end of 2009 after nine years with the group. He serves on several boards including: Bidvest, Remgro and Sappi (South Africa) and replaces Fred Phaswana who was appointed the Chairman of the Standard Bank Group in November 2009.
By evaluating dynamic business environments and investment themes, Ethos identifies opportunities for value creation and applies a time-tested approach of strategic excellence, operational efficiencies, management improvement, and sustained investment.
Ethos specialises in control acquisitions, expansion and replacement capital in:
- Medium to large companies in South Africa that involve meaningful equity participation by management; and
- Good quality growth investments of meaningful size in South Africa and sub-Saharan Africa.
Ethos’ core premise is that the businesses into which it invests are stronger, more robust, more sustainable, and more valuable on exit than they were prior to Ethos’ ownership.
Seeking opportunities in diverse sectors of the market, Ethos’ current investments include Alexander Forbes, Idwala, House of Busby, Brandcorp, Sportsman’s Warehouse and Tiger Wheel and Tyre, while exited investments include Foodcorp, Waco International, Dunlop, Defy and Cobra Watertech.