Current News
ETHOS ANNOUNCES 101st PRIVATE EQUITY INVESTMENT ETHOS PRESS ANNOUNCEMENT: 30 January 2012 Ethos today announced its 101st investment, the c.R850m
acquisition of South African corporate promotions company Kevro. The Kevro transaction follows heightened deal
flow at Ethos over the past six months. André Roux, Ethos CEO comments:
"We are experiencing strong investment activity, having concluded
the IPO of Holdsport and acquisition of Universal Industries in the second half
of 2011. In addition, we anticipate
making further announcements over the first half of 2012." Founded in 1990, Kevro is the leading supplier of
corporate clothing and promotional products in Africa. It sources and distributes the most
comprehensive range of clothing in the industry, whilst offering a wide and
growing range of corporate gifts and related branding services such as
embroidery, printing and engraving.
Kevro’s clothing products are primarily marketed under the well-known
Barron brand. Kevro is also the exclusive distributor of CAT Work & Leisure
Wear, Nike Golf Wear, and Indestruktible Bags. Kevro’s
products enhance corporate profiles through promotional brand building. Anthonie
de Beer, Ethos partner, commented: “Kevro is an attractive investment for Ethos, and was acquired through a
proprietary relationship. Kevro presents
significant growth opportunities, through continued market share expansion,
product range enlargement and sub-Saharan development. Our
partnership with the highly experienced executive team will strengthen and
sustain this growth.” Kevro operates from six locations within South
Africa. The Group’s headquarters is
located in Modderfontein, Johannesburg. This 12,000sqm high-rise
state-of-the-art facility houses the group’s main warehouse, procurement and
administrative divisions. The other five sites in Durban, Cape Town, Pretoria,
Port Elizabeth and Bloemfontein operate primarily as sales and distribution
depots. This distribution network provides Kevro with an extensive reach
throughout South Africa. Steven
Isaacson, Kevro Joint CEO stated: “We are excited to
be collaborating with Ethos to enhance our growth. Ethos brings proven business gravitas to the
table. Management firmly believes that
this transaction represents a significant milestone in Kevro’s history.” The Kevro transaction was facilitated by the exit
of private and founder shareholders.
Ethos has acquired a 72% shareholding, while management retains the
remainder.
| 
