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COMPANY:

CQS

EXIT YEAR: 2015
BUSINESS DESCRIPTION: Specialist financial software
INVESTMENT PARTNERS: Management and Kapela Investments
FUND: Ethos Technology Fund
ENTERPRISE VALUE (R'M): Not disclosed

All Torque

Alignment is the driving force for success

Partnership. No word better describes the union of institutional capital and entrepreneurial spirit that formed the foundation of Ethos' investment in niche, South African financial software company, CQS Investment Holdings (CQS). This collaboration serves as a shining example of Ethos' ability to nurture and support owner-manager businesses - enabling them to advance to the next stage of growth.

Ethos Technology Fund I acquired CQS in 2008, in a transaction that facilitated the introduction of empowerment partner, Kapela Investments.

During the course of our investment, we worked extensively with CEO, Ashley Cohen, and his team to corporatise and optimise CQS's strategy, leadership and business processes. Now, eight years later, it is exceptionally rewarding to see the fruits of our collaboration realised.

Ethos has successfully disposed of our shareholding to JSE-listed Adapt IT, with Kapela and management remaining invested as shareholders in the listed entity.

We worked closely with Ashley and his team to identify a partner that would share CQS's vision, ambition and culture. Adapt IT is the ideal home to help CQS fulfil its strategic growth ambitions. We believe this new partnership will unlock significant synergies for both parties.

Ethos strives to build better businesses through partnering outstanding entrepreneurs in the disciplined, deliberate and strategic growth of their businesses. Our partnership with CQS exemplifies this ambition.