Current News
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2017
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September
Ethos eyes final close on mid-market fund
20 Sep 2017South Africa-based Ethos Private Equity is looking to hold a final close on just over 2 billion rand ($151 million; €126 million) for its debut mid-market fund in the second half of this year, Private Equity International has learned.
RMI looks beyond insurance
20 Sep 2017Rand Merchant Investment Holdings, which owns stakes in Discovery, MMI and Outsurance, continues to diversify beyond insurance, announcing on Tuesday the acquisition of a 30% stake in Ethos Private Equity and a small share in bitcoin exchange platform Luno.-
RMI & RIM invest behind Ethos’ alternative asset growth strategy
19 Sep 2017Ethos Private Equity (‘Ethos’ or the ‘Firm’) is pleased to announce that it has reached agreement with RMI Investment Managers (‘RMI’) and Royal Investment Managers (‘RIM’) — together the ‘RMI & RIM Consortium’ — in terms of which, the RMI & RIM Consortium will invest behind Ethos’ growth strategy in a series of transactions that will result in them acquiring a combined stake of up to 30% in the Firm. 
Africa special: Find a happy medium with Ethos Mezzanine
01 Sep 2017Mezzanine finance provides investors with a less risky way to access sub-Saharan Africa and offers business owners a flexible alternative to diluting their equity holding, says Ethos Mezzanine Partners’ Phillip Myburgh.
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July
Local is lekker again for House of Busby
09 Jul 2017Most of the group's 21 brands are international, but CEO Mark Sardi says the group will not acquire any more licensing rights for international brands
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June
How private equity offers big returns
29 Jun 2017Survey shows investors pocketed R18.3bn, or a whopping 123.2%, more than in 2015-
Private equity continues to meet evolving market needs
09 Jun 2017The recent increased volatility in the global market has influenced an uptick in changes to the way many financial sectors operate - and private equity is no exclusion.
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May
SA lagging in women at level of executives
25 May 2017The Gender Disparity in SA report shows that at 10% the percentage of female CEOs in SA is behind the global average of 12%-
EDITORIAL: Business still ignores women
25 May 2017Women remain under-represented and the picture has changed very little 
Twinsaver Group accelerates growth streak through Sylko acquisition
03 May 2017The Twinsaver Group (Twinsaver), manufacturer of branded tissue products in South Africa, has announced the acquisition of Sylko, a leading supplier of quality disposable and recyclable household products. The acquisition, which is subject to regulatory and Competition Commission approval, further entrenches Twinsaver’s commitment to extending its footprint and expanding its offering as a large-scale FMCG business.
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April
Ethos Acquires South African Carbonated Drinks Business - Little Green Beverages
24 Apr 2017Ethos confirms that Ethos Fund VI has acquired a majority shareholding in Little Green Beverages (‘LGB’), in partnership with management and Nedbank Private Equity.
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March
Ethos targets $150mln for Mezzanine Partners 3
01 Mar 2017South African investment firm Ethos has launched the capital raise for Ethos Mezzanine Partners 3, targeting $150 million at final close. The generalist fund will invest in mezzanine and quasi-equity growth, acquisition and replacement financing opportunities in companies in southern and sub-Saharan Africa.
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February
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Ethos finds an Eazi margin of safety
28 Feb 2017Globally the importance of safety compliance in several high-risk industries is no longer in question. Numerous accident and incident investigations identify the lack of compliance with regulations, rules, and governing procedures as a central contributing factor to accidents and fatalities. Most recently in South Africa the Lily Mine disaster and Grayston Bridge collapse are high profile examples of the inherent safety risk in these two industries. And the drive towards zero-harm is part of the reason that Ethos announced a R1,6bn investment into the Eazi Group, Africa’s market leader in the rental, sale and servicing of work-at-height and material handling solutions, including access platforms, telehandlers and accessories. -
Private equity in SA: fruitful partnerships
28 Feb 2017A key consensus in the private equity community is that significant scope exists for private equity and venture capital managers to partner with businesses for growth, expansion and value creation in Southern Africa. This was a central theme of discussion amongst delegates who attended the annual Southern African Venture Capital and Private Equity Association (SAVCA) Private Equity in Southern Africa Conference in Stellenbosch, South Africa. -
Insights from Private Equity in Southern Africa Conference
23 Feb 2017The Southern African Venture Capital and Private Equity Association (SAVCA) recently held the annual Private Equity in Southern Africa Conference. The event was centred around “Fruitful Partnerships,” which looks at private equity and venture capital managers partnering with businesses for growth. -
Twinsaver Group diversifies through acquisition of Validus Medical
16 Feb 2017The Twinsaver Group (Twinsaver), manufacturer of branded tissue products in South Africa, today announced its acquisition of Validus Medical (Validus), a leading manufacturer of hygienic disposable products. 
Born Free: Ethos Mid Market Fund I successfully closes first three investments
03 Feb 2017Ethos Mid Market Fund I successfully closes first three investments. Within a month of our first closing, Ethos Mid Market Fund I concluded investments into three leading South African businesses.
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2016
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December
Our Ethos | Our Impact | Our Future
13 Dec 2016While Ethos' primary objective is to maximise stakeholder value by generating superior returns, we unequivocally recognise our role in the broader South African community.
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November
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Ethos: Partnerships in PE define difference between success and failure
25 Nov 2016Steadfast partnerships in African private equity often define the difference between success and failure, according to Ethos Private Equity. 
First Close: Ethos Mid Market Fund I
21 Nov 2016First close for Ethos Mid Market Fund I. This critical milestone means that we are now ‘open for business’ and able to deploy capital.
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October
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Minister Rob Davies Welcomes Investment and Expansion of Twinsaver Manufacturing Plant in Kliprivier
19 Oct 2016Minister Rob Davies Welcomes Investment and Expansion of Twinsaver Manufacturing Plant in Kliprivier
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September
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The Changemakers
02 Sep 2016More than 30 years after it was founded, Ethos Private Equity is still a pioneering force in the industry in South Africa. CEO Stuart MacKenzie discusses the firm’s latest endeavours.
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August
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Twinsaver Group set to become largest tissue manufacturer in sub-Saharan Africa
26 Aug 2016The Twinsaver Group (Twinsaver), manufacturer of branded tissue products in South Africa, has committed R580 million to the country’s local manufacturing sector; investing in state-of-the-art production equipment at its Bellville and Kliprivier operations. 
Ethos Capital debuts on JSE following R1.8 billion oversubscribed private placement
05 Aug 2016Mauritian-based Ethos Capital, an investment entity offering capital market investors a unique, liquid platform to gain exposure to a diversified pool of unlisted private equity type investments, today successfully listed in the “Financials – Speciality Finance” sector of the main board of the securities exchange operated by the JSE.-
EPE CAPITAL PARTNERS LIMITED – Results announcement
01 Aug 2016With reference to the pre-listing statement dated 18 July 2016 and the announcements released on SENS on 18 July 2016, regarding the offer for subscription by private placement by Ethos Capital for A ordinary shares, subject to certain conditions, Ethos Capital has successfully placed 180 000 000 A ordinary shares, at a price of R10.00 per A ordinary share raising R1 800 million. The bookbuild was oversubscribed and closed on Friday, 29 July 2016.
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July
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Ethos Private Equity
29 Jul 2016Ethos Private Equity made headlines this month with its announcement that it would be listing Ethos Capital Partners on the JSE. Interest in the listing of the permanent capital raising vehicle saw investors committing R1.1bn ahead of its IPO early next month. SAVCA speaks to Ethos Private Equity CEO Stuart MacKenzie ("SM", pictured) about the move. -
Listed private equity in Africa: a potential goldmine
25 Jul 2016As well as turbo-charging various new fund launches, Ethos’s new listed vehicle could open an untapped seam of African capital. -
Investors commit R1bn to Ethos IPO
19 Jul 2016Ethos Capital Partners to list, allowing shareholders to buy and sell at any point -
Ethos Capital to list shares on JSE
19 Jul 2016Ethos Private Equity (EPE) was intending to list Ethos Capital on the JSE next month with an intention to raise as much as R2 billion in a stock placement, it said yesterday. The move will allow shareholders to invest in a portfolio run by sub-Saharan Africa’s largest private equity firm in an initial public offering (IPO). -
Ethos heads to the JSE
19 Jul 2016And brings investors more choice in alternative investment space. Thirty year old private equity company, Ethos, intends to list on the main board of the JSE in August. 
Ethos plans JSE listing
19 Jul 2016Stuart MacKenzie Ethos Private Equity CEO & Peter Hayward-Butt CEO of Ethos Capital, speak to Guilietta Talevi about the planned listing of Ethos Capital on the JSE;-
Ethos Capital Partners to list, allowing shareholders to buy and sell at any point
18 Jul 2016INVESTING in private equity ”” which offers returns much higher than those of conventional investments ”” will no longer remain the preserve of institutional and wealthy investors, after Ethos Private Equity on Monday announced its intention to list Ethos Capital Partners. 
Ethos Capital to float on the JSE main board
18 Jul 2016Ethos Capital has announced its intention to list it's issued A ordinary share capital on the main board of the securities exchange operated by the JSE Limited. Joining CNBC Africa to provide some clarity on the company's strategic vision is Stuart MacKenzie CEO, Ethos Private Equity, and Peter Hayward-Butt CEO, Ethos Capital.-
Ethos Capital - Intention to Float Announcement
18 Jul 2016Ethos Capital has today announced its intention to list its issued A ordinary share capital on the main board of the securities exchange operated by the JSE Limited, subject to market conditions and the requisite approvals by the JSE. 
Ethos aims for R2bn from JSE listing
17 Jul 2016Ethos Private Equity will list Ethos Capital on the JSE next month with the aim of raising R2-billion from the initial public offering.
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June
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Ethos confirms planned exit of Brandcorp to Bidvest Group
17 Jun 2016Ethos confirms that following a competitive sales process it has entered into an agreement with The Bidvest Group Limited which, subject to the fulfillment of certain conditions precedent, will result in the sale of Brandcorp Holdings (Proprietary) Limited for an undisclosed sum. 
Eaton Towers announces sale of tower portfolio in South Africa to ATC South Africa
01 Jun 2016Eaton Towers Group, a leading independent African tower company announced today that it has signed a definitive agreement to sell its South African towers to ATC South Africa for an undisclosed sum.
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May
SA Private Equity Records a Decade of Market Outperformance
10 May 2016The performance of this alternative asset class justifies its role in a diversified, institutional portfolio, says SAVCA.
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April
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The still-limited exposure to private equity a missed opportunity for Southern African Pension funds
19 Apr 2016A recently released survey report by the Southern African Venture Capital and Private Equity Association (SAVCA), titled New Frontiers, has established that the allocation by pension funds in Southern Africa to private equity remains limited.
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March
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Private equity route vs JSE
04 Mar 2016The Johannesburg Stock Exchange (JSE) remains the largest and undisputed gateway for investors seeking to capitalise on the growing consumer market and mineral resources’ endowment on the continent.
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February
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SAVCA comments on South Africa’s Budget 2016
25 Feb 2016Budget speech commentary by the Southern African Venture Capital and Private Equity Association (SAVCA)
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Private equity in Southern Africa: Dealing in abundance
17 Feb 2016Private equity in Southern Africa experienced steady deal flow and exit activity in 2015 and, with a number of private equity houses having announced successful fundraising programmes, the industry is well positioned to back new deals in the coming years. -
EMPEA Appoints André Roux as Senior Advisor and Africa Council Chair
10 Feb 2016EMPEA, the global industry association for private capital in emerging markets, announces today that it has appointed André Roux to serve as a Senior Advisor to the organization and Chair of its Africa Council. Mr. Roux previously served on EMPEA’s Board of Directors from the association’s inception in 2004 to 31 December 2013 and he was a Founding Member representing the South Africa-based firm Ethos Private Equity (“Ethos”). EMPEA’s Africa Council represents one of its longest-running leadership Councils and was previously chaired by Henri Obi, Chief Operating Officer of Helios Investment Partners. 
Private equity investors continue to add value in Africa
05 Feb 2016According to the African Private Equity and Venture Capital Association, there were 823 private equity deals worth 21.6 billion US dollars in Africa between 2010 and 2015. Despite the macroeconomic headwinds, private equity investors in Africa continue to invest, grow and add value to portfolio companies. Dr. Ponmile Osibo, Research Analyst, African Private Equity and Venture Capital Association joins CNBC Africa for more.
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January
Ethos exits CQS to JSE-listed Adapt IT
27 Jan 2016Ethos, a leading South African private equity investor, has announced the sale of its investment in leading, niche technology company, CQS Investment Holdings (CQS) to JSE-listed Adapt IT. This follows the fulfilment of all conditions precedent giving effect to the transaction.
Ethos acquires majority stake in The Eazi Group
25 Jan 2016Ethos, a leading South African private equity investor, today announced an investment into The Eazi Group, Africa's market leader in the rental, sale and servicing of work-at-height and material handling solutions, including access platforms, telehandlers and accessories, in a deal valued at R1.6bn.
VIDEO: Private equity industry in SA
13 Jan 2016The South African private equity industry has delivered healthy returns for investors, according to the Southern African Venture Capital and Private Equity Association. CEO, Erika van der Merwe joins Moneyline for a broad discussion on this.
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2015
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December
Ethos sells out of Transaction Capital at new high
11 Dec 2015Ethos Private Equity launched today the sale of its last shares in Transaction Capital, the Johannesburg-listed commercial finance company, as an accelerated bookbuild.
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November
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Alternative Assets - Healthy Performance
26 Nov 2015Now a well-developed and sophisticated industry, Erika van der Merwe* believes that private equity provides rewarding returns for a range of investors and benefits for the broader economy. -
SA Taxi plans to build its own panel beater
24 Nov 2015With plans to build the largest panel beater in South Africa and enter the metred taxi environment, taxi financier Transaction Capital says its defensive businesses are well positioned to grow even in tough economic conditions.
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October
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Waco - postponement of private placement and listing
15 Oct 2015Further to the pre-listing statement dated 5 October 2015, interested investors are advised that Waco has decided to postpone its proposed private placement and listing on the JSE. -
SAVCA appoints five new directors to its board
09 Oct 2015The Southern African Venture Capital and Private Equity Association (SAVCA) has announced the appointment of five directors to its board, with immediate effect. 
Waco International to list on the JSE on or about 23 October 2015 - Total offer size of approximately R3.5 billion*
05 Oct 2015Waco International Holdings Limited (”˜Waco’ or ”˜Company’) has confirmed today that it will list on the main board of the securities exchange operated by the JSE Limited (”˜JSE’). The expected listing date is 23 October 2015. The company will be listed in the General Industrials – Diversified Industrials sector of the JSE, under the symbol ”˜WIH’.
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September
CNBC: Waco International to list on JSE main board
28 Sep 2015Waco International Holdings has announced its intention to list its issued ordinary share capital on the main board of the JSE. Waco is a diversified equipment hire and industrial services business operating in South Africa, sub-Saharan Africa, Australasia, the United Kingdom and Chile. Joining CNBC Africa is Stephen Goodburn, CEO of Waco International.-
Waco International Announces Its Intention To Float On The Jse Main Board
21 Sep 2015Waco International Holdings Limited (the “Company”, the “Group” or “Waco”) has today announced its intention to list its issued ordinary share capital on the main board of the securities exchange operated by the JSE Limited (the “JSE”), subject to market conditions and the requisite approvals by the JSE (the “Listing”). -
Ethos Private Equity Confirms Planned IPO of Waco International
21 Sep 2015Ethos Private Equity confirms the intention to list Waco International on the JSE later this year. The listing will facilitate a partial realisation of the interests of an Ethos-led private equity consortium, which included RMB Ventures and Standard Bank. The consortium acquired Waco in 2012.
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July
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TwinCare transforms into TWINSAVER
13 Jul 2015TwinCare Group, a national manufacturer and distributor of branded tissue products, announced today that it will be trading as the TWINSAVER Group going forward.
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June
Ethos confirms planned sale of Plumblink
10 Jun 2015Ethos Private Equity confirms that it has entered into an agreement with The Bidvest Group Limited (“Bidvest”) to dispose of Plumblink, for an undisclosed sum. The transaction is subject to the fulfilment of certain conditions.
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May
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PRIVATE EQUITY: More deals
14 May 2015ETHOS, the blue-chip Illovo-based private equity firm, has announced its fourth transaction in five months. ETHOS, the blue-chip Illovo-based private equity firm, has announced its fourth transaction in five months. It has invested in Eaton Towers, a pan-African provider of shared telecom towers. Ethos is leading a consortium which includes two large US equity firms, Hamilton Lane and HarbourVest. The consortium is contributing US$150m in new equity. Ethos partner Ngalaah Chuphi says this is the first pan-African investment in Ethos Fund VI. -
Ethos announces pan-African investment - Eaton Towers
05 May 2015Ethos Private Equity today confirmed an investment into Eaton Towers – a leading independent provider of shared telecoms towers across Africa.
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April
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Africa private equity debate: Realising Africa’s potential through private equity
30 Apr 2015Realising Africa’s potential through private equity 
SAVCA-EY "Excellence in Exits" Video Four | Anthonie de Beer, Ethos Private Equity
15 Apr 2015SAVCA-EY "Excellence in Exits" Video Four | Anthonie de Beer, Ethos Private Equity
African PE executives: Collaborate to boost deal-flow
14 Apr 2015Private equity investment has reached pre-financial crisis levels in Africa. However, more deals could be executed if there was more collaboration between funds, private equity managers say, against the backdrop of a more challenging commodity-driven economic cycle.
CNBC Africa: Ethos acquires tissue & corrugate divisions from Nampak
01 Apr 2015Ethos today confirmed that it has acquired the Tissue and Corrugate divisions from Nampak. Joining CNBC Africa is Shaun Zagnoev the Ethos partner who led the transaction and Garth Towell the new CEO of TwinCare.-
Ethos acquires, rebrands Nampak divisions & appoints new leadership
01 Apr 2015Ethos today confirms that it has acquired the Tissue and Corrugate divisions from Nampak. All conditions precedent have been met; both transactions conclude on the 1st April.
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March
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Private-equity exits touch a high of $450bn
27 Mar 2015PRIVATE-equity exits globally reached a historical record of $450bn last year as companies looking for growth acquired businesses from private-equity firms, research by management consulting firm Bain has showed.
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February
South African Losing Private Equity Allure to Fast-Growing Rivals
18 Feb 2015South Africa is no longer the destination of choice for private equity investors seeking to tap returns on the continent.
Ethos looks north as SA private equity shifts focus
13 Feb 2015Shift from SA to rest of continent 'has been monumental'.
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January
PRIVATE EQUITY: Holding its own
22 Jan 2015THE headline return from SA private equity stands up well against the listed markets. Over 10 years to September 30 2014 the internal rate of return has been 18.5%, almost matching the JSE all share index’s 18.8% in what has been an extraordinary decade for equity returns.
Ethos of South Africa Adds AutoZone Stake in Private Equity Deal
21 Jan 2015Ethos Private Equity Ltd. bought a controlling stake in South African closely held automotive-parts retailer AutoZone, the fourth investment through its 7.9 billion rand ($682 million) Fund VI.-
Ethos Invests into Leading South African, Independent Automotive-Parts Retailer and Wholesaler
21 Jan 2015Ethos today announced an investment into AutoZone, the largest and fast growing, privately-owned automotive parts aftermarket retailer and wholesaler in Southern Africa.
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AutoZone: 2015 -
Ethos: 2015 -
RTT: 2014 -
Born of Africa: 2013 -
Value Creation: 2013 -
Fund VI: 2013 -
WACO: 2012 -
Ethos: 2012 -
Ethos: 2011 -
Universal: 2011 -
Ethos: 2010 -
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iDwala: 2009 -
Oceanic: 2008 -
TiAuto: 2008 -
Ethos: 2007 -
IST Exit: 2007 -
Dunlop Exit: 2006 -
Moresport: 2006 -
Plumblink: 2006 -
WACO Exit: 2006 -
Fund V: 2006 -
Fund V: 2006 -
Fund V: 2006 -
Fund V: 2006
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SAVCIO: 2005
