Gauteng, South Africa’s economic powerhouse, hosts several prominent private equity firms that drive investment across diverse sectors. Ethos Private Equity, Actis, and LeapFrog Investments exemplify the region’s robust investment landscape, focusing on growth, sustainability, and transformative opportunities. These firms leverage Gauteng’s strategic location, robust infrastructure, and dynamic business ecosystem to generate significant returns. For professionals seeking to connect with like-minded leaders in private equity and mergers & acquisitions, join our community at alexejpikovsky.com/community.
Ethos Private Equity
Investment Style: Ethos Private Equity focuses on making growth, buyout, and mezzanine investments in mid to large-sized companies across Africa, particularly in sectors such as consumer products, financial services, and retail. Their approach involves active management, strategic guidance, and operational improvements to drive sustainable growth and create value.
Portfolio Companies: Ethos’ portfolio includes companies like Virgin Active (health and wellness), MTN Zakhele (telecommunications), and Eazi Access (equipment rental services).
Founding Date: 1984
Number of Investment Professionals: Over 40
Assets Under Management: Approximately $8 billion
Key Investment Professionals:
- Stuart MacKenzie, CEO: MacKenzie leads the strategic direction of Ethos and is deeply involved in the identification and execution of investment opportunities.
- Philip Myburgh, Partner: Myburgh focuses on the financial services and consumer sectors, leveraging his extensive industry knowledge to drive value creation.
- Andre Roux, Partner: Roux specializes in operations and portfolio management, ensuring operational improvements and strategic growth initiatives are successfully implemented.
Recent Exits:
- Exited its investment in The Beverage Company through a sale to a strategic buyer, highlighting its ability to enhance company value.
- Sold Waco International to a consortium of investors, showcasing its successful growth strategy execution.
Recent Investments:
- Invested in Channel VAS, a fintech company specializing in mobile financial services.
- Acquired a significant stake in Intellidex, a research and consulting firm focused on capital markets in Africa.
Office Locations:
- Johannesburg (Headquarters): 35 Fricker Road, Illovo, Sandton, Gauteng, South Africa
- Additional Offices: Cape Town, Nairobi
Website: www.ethos.co.za
Quote: “Our strength lies in our deep understanding of the African market and our ability to leverage local insights to drive transformative growth.” – Stuart MacKenzie, CEO
Actis
Investment Style: Actis is a leading global investor in sustainable infrastructure, focusing on energy, real estate, and private equity investments in emerging markets. They emphasize transformative value creation with a focus on sustainability and impact investing.
Portfolio Companies: Actis’ portfolio includes Lekela Power (renewable energy), AutoXpress (automotive services), and Food Lover’s Market (retail).
Founding Date: 2004
Number of Investment Professionals: Over 120
Assets Under Management: Approximately $13 billion
Key Investment Professionals:
- Torrealba Alcides, Partner: Alcides leads investment strategies in the energy sector, focusing on sustainable and renewable energy projects across Africa.
- David Cooke, Partner: Cooke specializes in real estate investments, driving strategic growth and enhancing value across the portfolio.
- Lisa Pinsley, Director: Pinsley focuses on private equity investments in Africa, leveraging her extensive experience in emerging markets.
Recent Exits:
- Exited its investment in BTE Renewables, emphasizing its commitment to sustainable energy.
- Sold its stake in Honoris United Universities, highlighting its strategic focus on educational growth in Africa.
Recent Investments:
- Acquired a controlling interest in BioTherm Energy, a leading renewable energy company in Africa.
- Invested in Rack Centre, a data center services provider, to expand digital infrastructure capabilities in emerging markets.
Office Locations:
- Johannesburg (Regional Office): 4th Floor, The Firs, Cnr Cradock and Biermann Avenue, Rosebank, Gauteng, South Africa
- Additional Offices: London, Lagos, Nairobi, Cairo
Website: www.act.is
Quote: “We are committed to investing in a sustainable future by focusing on transformative projects that deliver both financial returns and societal impact.” – Torrealba Alcides, Partner
LeapFrog Investments
Investment Style: LeapFrog Investments specializes in profit-with-purpose investments in financial services and healthcare sectors. Their focus is on emerging markets, where they provide capital to businesses delivering essential services to low-income consumers.
Portfolio Companies: LeapFrog’s portfolio includes companies like MedGenome (healthcare diagnostics), Jumo (financial technology), and Goodlife Pharmacy (retail pharmacy chain).
Founding Date: 2007
Number of Investment Professionals: Over 50
Assets Under Management: Approximately $2 billion
Key Investment Professionals:
- Andrew Kuper, Founder and CEO: Kuper leads LeapFrog’s strategic direction, focusing on impact investing and financial inclusion.
- Gary Herbert, Partner: Herbert drives investments in the healthcare sector, leveraging his deep industry expertise.
- David Steel, Partner: Steel specializes in financial services investments, contributing to the growth of inclusive financial institutions.
Recent Exits:
- Exited their investment in BIMA, emphasizing their focus on technology-driven insurance solutions.
- Sold their stake in AllLife, highlighting their successful impact-driven investment strategy.
Recent Investments:
- Invested in Ascent Meditech, a health and personal care company serving the Indian consumer market.
- Acquired a stake in Prudential Life Assurance Kenya, expanding their presence in the African financial services sector.
Office Locations:
- Johannesburg (Office): 21st Floor, The Leonardo, 75 Maude Street, Sandton, Gauteng, South Africa
- Additional Offices: London, Singapore, Nairobi, Sydney
Website: www.leapfroginvest.com
Quote: “LeapFrog’s mission is to empower a billion emerging consumers with essential tools like healthcare and financial services, creating a lasting impact.” – Andrew Kuper, Founder and CEO
Metier Private Equity
Investment Style: Metier Private Equity focuses on mid-market growth capital and buyout opportunities in Southern Africa. They invest across various sectors including renewable energy, industrials, and consumer goods, seeking to drive operational improvements and strategic growth.
Portfolio Companies: Their portfolio includes companies like Libstar Holdings (consumer products), AE-AMD Renewable Energy (energy), and Protea Chemicals (industrial chemicals).
Founding Date: 2004
Number of Investment Professionals: Over 30
Assets Under Management: Approximately $500 million
Key Investment Professionals:
- Paul Botha, CEO: Botha oversees the firm’s investment strategy and plays a key role in portfolio management and value creation.
- Michael Goldsmith, Partner: Goldsmith focuses on renewable energy investments, leveraging his technical expertise to drive sustainable growth.
- Graham Thomas, Partner: Thomas specializes in consumer goods and industrials, contributing to Metier’s diversified investment approach.
Recent Exits:
- Exited their investment in Libstar Holdings through a successful IPO on the Johannesburg Stock Exchange.
- Sold their stake in Retailability to a strategic buyer, showcasing their effective growth strategy.
Recent Investments:
- Invested in BioTherm Energy, supporting the expansion of renewable energy projects across Africa.
- Acquired a significant stake in Dynamic Recovery Services, a provider of waste management solutions.
Office Locations:
- Johannesburg: 115 West Street, Sandton, Gauteng, South Africa
- Additional Offices: Cape Town, Mauritius
Website: www.metier.co.za
Quote: “We are committed to sustainable investing, focusing on projects that deliver both financial returns and positive environmental impact.” – Paul Botha, CEO
AIIM (African Infrastructure Investment Managers)
Investment Style: AIIM specializes in infrastructure investment opportunities across Africa, with a focus on energy, transportation, and digital infrastructure. Their strategy involves partnering with local operators to drive growth and enhance regional connectivity.
Portfolio Companies: AIIM’s portfolio includes renewable energy projects like Cenpower Generation and the Lekki Concession Company (transport infrastructure).
Founding Date: 2000
Number of Investment Professionals: Over 50
Assets Under Management: Approximately $2 billion
Key Investment Professionals:
- Jurie Swart, CEO: Swart leads AIIM’s investment strategy, focusing on infrastructure projects that drive sustainable development across Africa.
- Paul Frankish, Investment Director: Frankish specializes in energy infrastructure, leveraging his industry expertise to enhance project execution.
- Roderick Seligman, Investment Director: Seligman focuses on transportation infrastructure, contributing to AIIM’s regional connectivity initiatives.
Recent Exits:
- Exited their investment in Cenpower Generation, emphasizing their role in advancing Africa’s energy sector.
- Sold their stake in the Bakwena Platinum Corridor Concession, highlighting their focus on enhancing transportation infrastructure.
Recent Investments:
- Invested in the East Africa Data Centre, expanding digital infrastructure capacity across the region.
- Acquired a stake in Starsight Power Utility, supporting renewable energy solutions in West Africa.
Office Locations:
- Johannesburg: 1st Floor, MontClare Place, Cape Town, Gauteng, South Africa
- Additional Offices: Lagos, Nairobi
Website: www.aiimafrica.com
Quote: “Our investments are geared towards infrastructure projects that not only deliver solid returns but also facilitate economic growth and development across Africa.” – Jurie Swart, CEO
Vantage Capital
Investment Style: Vantage Capital is a leading provider of mezzanine debt and structured equity, focusing on mid-market companies in Africa across sectors like manufacturing, real estate, and infrastructure. Their investment approach is characterized by flexible financing solutions tailored to the needs of their portfolio companies.
Portfolio Companies: Vantage Capital’s portfolio includes companies like Rosslyn Riviera (retail real estate), Thebe Solar Power (renewable energy), and Primedia Group (media).
Founding Date: 2001
Number of Investment Professionals: Over 20
Assets Under Management: Approximately $1 billion
Key Investment Professionals:
- Warren van der Merwe, Managing Partner: Van der Merwe oversees the firm’s investment strategies, driving growth and value creation in the portfolio.
- Luc Albinski, Managing Partner: Albinski specializes in mezzanine financing, bringing extensive experience in structured finance to Vantage’s investments.
- Colin Rezek, Managing Partner: Rezek focuses on portfolio management, ensuring strategic alignment and operational efficiencies.
Recent Exits:
- Exited their investment in the Safari Court Hotel, highlighting their active role in enhancing the hospitality sector.
- Sold their stake in New GX Capital, showcasing their ability to create value in diversified sectors.
Recent Investments:
- Invested in the construction of the 40MW Mulilo Sonnedix Prieska Solar PV project in South Africa’s Northern Cape region.
- Acquired a significant interest in a leading telecommunications tower company in Nigeria.
Office Locations:
- Johannesburg (Headquarters): 3rd Floor, Redefine Towers, 8 Commerce Crescent, Sandton, Gauteng, South Africa
- Additional Offices: Cape Town, Mauritius
Website: www.vantagecapital.co.za
Quote: “Our focus is on providing flexible, bespoke financing solutions that meet the unique needs of mid-sized African businesses.” – Warren van der Merwe, Managing Partner
Capitalworks
Investment Style: Capitalworks invests in high-growth mid-market companies across various sectors in Africa, including healthcare, education, and logistics. Their approach involves providing strategic support and operational expertise to drive sustainable growth and value creation.
Portfolio Companies: Capitalworks’ portfolio includes Life Healthcare (hospital group), Bytes Technology (IT services), and Sovereign Foods (poultry production).
Founding Date: 2006
Number of Investment Professionals: Over 30
Assets Under Management: Approximately $500 million
Key Investment Professionals:
- Chad Smart, Managing Partner: Smart leads Capitalworks’ investment strategy, focusing on operational improvements and strategic growth initiatives.
- Dylan Pienaar, Partner: Pienaar specializes in education and healthcare investments, leveraging his industry expertise to drive portfolio expansion.
- John Bellew, Partner: Bellew focuses on logistics and technology sectors, contributing to Capitalworks’ diversified investment approach.
Recent Exits:
- Exited their investment in Sovereign Foods through a sale to a strategic buyer, showcasing their growth-focused strategy.
- Sold their stake in AfriSam, a leading construction materials group, highlighting their successful investment approach.
Recent Investments:
- Invested in Medhold Medical, a healthcare equipment distribution and supply company.
- Acquired a controlling interest in Interactive Africa, a digital and traditional media company.
Office Locations:
- Johannesburg (Headquarters): Ground Floor, Block A, The Forum, North Bank Lane, Century City, Gauteng, South Africa
- Additional Offices: Cape Town
Website: www.capitalworksip.com
Quote: “Our commitment is to partner with dynamic management teams to build businesses that deliver long-term, sustainable value.” – Chad Smart, Managing Partner
Horizon Equity Partners
Investment Style: Horizon Equity Partners focuses on growth capital investments in small to medium-sized enterprises in South Africa, emphasizing sectors such as technology, manufacturing, and services. Their approach involves active management and strategic guidance to foster growth and enhance operational efficiencies.
Portfolio Companies: Horizon Equity’s portfolio includes companies like XLink Communications (telecommunications), Sureswipe (financial services), and DataPro Group (IT services).
Founding Date: 1997
Number of Investment Professionals: Over 15
Assets Under Management: Approximately $200 million
Key Investment Professionals:
- Charles Pettit, Managing Partner: Pettit leads Horizon Equity’s investment strategy, focusing on growth opportunities and operational improvements.
- Craig Dreyer, Partner: Dreyer specializes in technology investments, leveraging his sector knowledge to drive portfolio company growth.
- Mark Pettit, Partner: Pettit focuses on manufacturing and services sectors, contributing to Horizon Equity’s diversified approach.
Recent Exits:
- Exited their investment in DataPro Group through a strategic sale, emphasizing their ability to enhance company value.
- Sold their stake in Sureswipe, showcasing their successful growth-focused investment strategy.
Recent Investments:
- Invested in Redefine Properties, a leading diversified real estate investment trust.
- Acquired a significant interest in Digicall, a business process outsourcing services provider.
Office Locations:
- Johannesburg (Headquarters): 1st Floor, The Place, 1 Sandton Drive, Sandton, Gauteng, South Africa
Website: www.horizonpe.co.za
Quote: “Our focus is on partnering with passionate entrepreneurs to build robust, high-growth businesses that deliver strong returns.” – Charles Pettit, Managing Partner
Phatisa
Investment Style: Phatisa specializes in private equity investments in the agriculture and food sectors across Africa, with a focus on growth capital and development opportunities. Their strategy emphasizes sustainable investments that deliver both financial returns and social impact.
Portfolio Companies: Phatisa’s portfolio includes Meridian Group (agricultural inputs), Goldtree Holdings (palm oil production), and Kanu Equipment (heavy equipment distribution).
Founding Date: 2005
Number of Investment Professionals: Over 20
Assets Under Management: Approximately $350 million
Key Investment Professionals:
- Stuart Bradley, Partner: Bradley leads Phatisa’s investment strategy in the agriculture sector, focusing on sustainable growth and development.
- Robert Jenkins, Partner: Jenkins specializes in food sector investments, leveraging his expertise to drive portfolio expansion.
- Tshepo Mekoa, Partner: Mekoa focuses on development opportunities, contributing to Phatisa’s impact-driven investment approach.
Recent Exits:
- Exited their investment in Goldtree Holdings through a strategic sale, highlighting their commitment to sustainable investments.
- Sold their stake in Meridian Group, showcasing their effective growth and development strategy.
Recent Investments:
- Invested in Afrigrit, a producer and distributor of abrasives and industrial minerals.
- Acquired a significant interest in General Plastics, a manufacturer of plastic products for the agricultural sector.
Office Locations:
- Johannesburg (Headquarters): 3rd Floor, Melrose Boulevard, Melrose Arch, Johannesburg, Gauteng, South Africa
- Additional Offices: Nairobi, Abidjan
Website: www.phatisa.com
Quote: “Our goal is to deliver both financial returns and social impact through investments in the agriculture and food sectors, supporting the growth of Africa’s economies.” – Stuart Bradley, Partner
Conclusion
Private equity firms in Gauteng are transforming the regional economic landscape through strategic investments and operational improvements. Their ability to identify potential, restructure organizations, and drive value creation sets them apart in the competitive market. As the sector continues to evolve, these firms will play a crucial role in shaping South Africa’s economic future.
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