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Archived News
Ethos Private Equity has raised the largest private
equity fund to date in Africa as it prepares to take advantage of a growing
number of large private equity opportunities available.
Local private equity firms would have to continue
looking offshore for capital and partnerships for them to participate in larger
transactions, industry pundits said yesterday.
Ethos Private Equity, a leading South African private equity firm, has today announced that its new Ethos Fund V has capital available for investment of R5,5 billion ($750 million), by far the largest fund in Africa.
South African private equity firm Ethos Private
Equity has closed its latest fund, Ethos Fund V, on ZAR5.5bn (approximately
$750m).
Ethos Private Equity, a South African buyout
manager, has closed the largest dedicated fund for the region.
SPORTS goods group Moresport has found a new home, after the competition authorities prohibited retail and wholesale group Massmart
from buying the company earlier this year.
Ethos Private Equity and Moresport management has bought the sports goods and outdoor activities firm for an enterprise value of R681m.
Busi Mabuza, a partner at pioneer firm Ethos Private
Equity, is part of the fundraising team for the firm's Ethos Fund 5, which is
seeking to raise $500 million (R3.4 billion).
It's gratifying for a journalist to hear that the
success of a young entrepreneur can be traced to an article he read in a
business magazine. In Steven Kark's case, it was the US's Forbes that
changed the course of his career - and made him something of a hotshot.
The results of the 2005 KPMG/SA Venture Capital
Association private equity performance survey, released in May, reveal a mixed
bag of accomplishments.
There are many new entrants to the private equity
industry, but old hands like Andre Roux, chief executive of Ethos Private
Equity, have been since the dawn of the industry.
Influential private equity company Ethos has led a
consortium in a buyout of Plumblink SA, a plumbing and sanitaryware company
headed by former Rainbow Chickens CEO Yannick Lakhnati.
The upcoming EUR 125m 7-year NC4 senior secured note issue from South African
electrical maintenance and repair services company Savcio Holdings (Pty) Ltd
(Savcio) has gone down well with investors consulted by this news service.
Apollo Tyres yesterday reached agreement to wholly
acquire local Dunlop tyre maker for 2,85bn rupees or about R400m.
Dunlop Tyres, the privately owned local company
previously listed on the JSE, has been acquired by the Mumbai Stock
Exchange-listed Apollo Tyres for $62million
Savcio Holdings, a privately owned South African
repair firm, planned to sell high-risk yield-bonds, a statement from Barclays
said yesterday.
There is no doubt industrial group Waco
International, which said earlier this week that it had been sold, had been
serious about listing.
There have been an increasing number of private
equity deals in recent years. The acquisition of Waco International by CCMP
Capital Asia and the company's senior management team for R5.4 billion is the
largest private equity transaction in South Africa.
After flirting with the JSE, Waco concludes a R5,4bn
private equity buyout.
Waco shareholders, announced that they have concluded a sale for
R5.4 billion to CCMP Capital Asia and the senior management team led by Royden Vice, CEO of the company.
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