Johannesburg stands as a premier hub for private equity firms, attracting top-tier investment talent across Africa. Ethos Private Equity, Actis, and Brait SE exemplify the city’s robust financial ecosystem, offering strategic investments in diverse sectors ranging from automotive to infrastructure. These firms leverage Johannesburg’s sophisticated financial infrastructure and strategic location to drive value creation. Investors and entrepreneurs seeking opportunities in this dynamic landscape can explore deeper insights and connections within our thriving private equity community at alexejpikovsky.com/community.
Ethos Private Equity
Investment Style: Ethos Private Equity focuses on buyouts and growth investments in mid- to large-sized companies across diverse sectors in Africa. They aim to add value through active partnerships with management teams, strategic guidance, and operational improvements.
Portfolio Companies: Ethos’s portfolio includes AutoZone (automotive parts retailer), Brait (investment holding company), Kevro (corporate clothing), and Twinsaver (tissue manufacturer).
Founding Date: 1984
Number of Investment Professionals: Approximately 60
Assets Under Management: Approximately $1.1 billion
Key Investment Professionals:
- Stuart MacKenzie, CEO: MacKenzie leads the overall strategic direction of the firm and is deeply involved in investment decision-making processes.
- Andre Roux, Partner: Roux focuses on identifying investment opportunities and managing portfolio companies to drive growth and value creation.
- Stephen Van Coller, Partner: Van Coller contributes to the strategic planning and execution of investments, leveraging his extensive industry experience.
Recent Exits:
- Exit of its stake in Eaton Towers, a shared infrastructure company, to American Tower Corporation.
- Partial exit from Brait, an investment holding company, through a rights issue and restructuring.
Recent Investments:
- Investment in Channel VAS, a fintech company providing mobile financial and data services.
- Investment in AutoZone, a leading auto parts retailer in South Africa.
Office Locations:
- Johannesburg (Headquarters): 35 Fricker Road, Illovo Boulevard, Johannesburg
- Additional Offices: Cape Town, London
Website: www.ethos.co.za
Quote: “Our mission is to be the leading private equity firm in Africa by consistently delivering superior returns to our investors and creating long-term value for our stakeholders.” – Stuart MacKenzie, CEO
Actis
Investment Style: Actis invests in emerging markets, focusing on energy and infrastructure, real estate, and private equity. Their strategy involves deploying capital in growth markets with significant potential for economic development and value creation.
Portfolio Companies: Actis’s portfolio includes Lekela Power (renewable energy), Honoris United Universities (education), and BioTherm Energy (renewable energy).
Founding Date: 2004
Number of Investment Professionals: Over 100
Assets Under Management: Approximately $10 billion
Key Investment Professionals:
- Torbjorn Caesar, Senior Partner: Caesar focuses on overall strategy and leadership, guiding Actis in its mission to drive sustainable growth in emerging markets.
- Lucy Heintz, Partner, Head of Energy: Heintz leads the energy investments, identifying opportunities to expand and develop sustainable energy solutions.
- Jonathan Berman, Partner: Berman plays a key role in the private equity investments, with a focus on strategy and value creation.
Recent Exits:
- Exit from Compagnie Ivoirienne de l’Electricité, a power company in Cote d’Ivoire.
- Sale of GHL Systems, a payment solutions provider in Asia, to a strategic buyer.
Recent Investments:
- Investment in Alcazar Energy Partners, a renewable energy platform focused on the Middle East and Africa.
- Investment in Honoris United Universities, the largest pan-African private higher education network.
Office Locations:
- Johannesburg: 23 Fricker Road, Illovo Boulevard, Johannesburg
- Additional Offices: London, Lagos, Nairobi, São Paulo, Cairo
Website: www.act.is
Quote: “We are committed to building strong and sustainable businesses that deliver both financial and societal value.” – Torbjorn Caesar, Senior Partner
Brait SE
Investment Style: Brait SE focuses on long-term value investing, primarily through buyouts and significant minority stakes in companies with strong market positions and growth potential.
Portfolio Companies: Brait’s portfolio includes New Look (fashion retailer), Virgin Active (health club chain), and Premier Foods (food manufacturing).
Founding Date: 1991
Number of Investment Professionals: Approximately 30
Assets Under Management: Approximately $5 billion
Key Investment Professionals:
- John Gnodde, CEO: Gnodde oversees the strategic direction and execution of Brait’s investment strategy.
- Peter Hayward-Butt, CFO: Hayward-Butt manages the financial aspects of Brait’s portfolio, ensuring robust financial performance and reporting.
- James Wilson, Investment Manager: Wilson plays a key role in identifying and managing investment opportunities to maximize returns.
Recent Exits:
- Exit from Iceland Foods, the UK’s leading frozen food specialist, to a consortium of investors.
- Sale of Poundland to Steinhoff International.
Recent Investments:
- Increased stake in Virgin Active, expanding its presence in the health and fitness sector globally.
- Investment in Premier Foods, a leading South African food manufacturer.
Office Locations:
- Johannesburg (Headquarters): 50 Bath Avenue, Rosebank, Johannesburg
- Additional Offices: London, Malta
Website: www.brait.com
Quote: “Our focus is on building sustainable businesses that can deliver long-term value for our stakeholders.” – John Gnodde, CEO
Vantage Capital
Investment Style: Vantage Capital specializes in mezzanine financing and impact investments across Africa, focusing on providing flexible capital solutions to mid-market businesses.
Portfolio Companies: Vantage Capital’s portfolio includes Servest (facility management), Vumatel (fiber optic network provider), and Rosslyn Riviera Mall (real estate).
Founding Date: 2001
Number of Investment Professionals: Approximately 25
Assets Under Management: Approximately $1 billion
Key Investment Professionals:
- Warren van der Merwe, Managing Partner: Van der Merwe leads Vantage’s investment activities, focusing on mezzanine and impact investments across Africa.
- Luc Albinski, Managing Partner: Albinski oversees investment strategies and ensures alignment with Vantage’s strategic objectives.
- Colin Taylor, Partner: Taylor contributes to investment decision-making and portfolio management, with a focus on enhancing value creation.
Recent Exits:
- Exit of its stake in Servest, a leading facility management company, through a management buyout.
- Partial exit from Vumatel, a leading fiber optic network provider, to strategic investors.
Recent Investments:
- Investment in Rosslyn Riviera Mall, a key real estate development in Nairobi, Kenya.
- Investment in Vumatel, expanding its fiber optic network services across South Africa.
Office Locations:
- Johannesburg (Headquarters): 94 Bompas Road, Dunkeld West, Johannesburg
- Additional Offices: Cape Town, Nairobi
Website: www.vantagecapital.co.za
Quote: “At Vantage Capital, we are dedicated to innovating capital solutions that drive growth and make a positive impact across Africa.” – Warren van der Merwe, Managing Partner
Capitalworks
Investment Style: Capitalworks focuses on private equity investments in the mid-market sector, partnering with management teams to drive strategic growth and operational improvements in their portfolio companies.
Portfolio Companies: Capitalworks’s portfolio includes Rosond (mining and exploration services), Much Asphalt (road construction materials), and IQ Business (management consulting).
Founding Date: 2006
Number of Investment Professionals: Approximately 20
Assets Under Management: Approximately $500 million
Key Investment Professionals:
- Chad Smart, CEO: Smart leads Capitalworks in executing investment strategies and driving growth within its portfolio.
- Paul Austin, Partner: Austin focuses on identifying investment opportunities and managing portfolio companies to achieve strategic objectives.
- Gavin Tipper, Partner: Tipper plays a role in investment decisions and portfolio management, leveraging his extensive industry experience.
Recent Exits:
- Exit from Rosond, a mining services company, through a sale to a strategic buyer.
- Sale of Much Asphalt to AECI Limited.
Recent Investments:
- Investment in IQ Business, a leading management consulting firm in South Africa.
- Investment in Rosond, expanding its capabilities in the African mining sector.
Office Locations:
- Johannesburg (Headquarters): 3 Melrose Boulevard, Melrose Arch, Johannesburg
- Additional Offices: None
Website: www.capitalworks.co.za
Quote: “Our mission is to partner with exceptional management teams to build businesses that deliver sustainable growth and returns.” – Chad Smart, CEO
Rockwood Private Equity
Investment Style: Rockwood Private Equity specializes in controlling buyouts and significant minority investments in mid-sized companies across various sectors in South Africa and sub-Saharan Africa.
Portfolio Companies: Rockwood’s portfolio includes Tsebo Solutions Group (outsourced services), Bravo Group (furniture manufacturer), and Sovereign Foods (poultry producer).
Founding Date: 2004
Number of Investment Professionals: Approximately 15
Assets Under Management: Approximately $500 million
Key Investment Professionals:
- Mike Donaldson, Managing Partner: Donaldson leads Rockwood’s strategic investment initiatives and oversees portfolio management activities.
- Roger Foster, Partner: Foster focuses on identifying investment opportunities and enhancing value creation within the portfolio.
- Stefan Pieterse, Partner: Pieterse plays a critical role in strategic planning and investment decisions.
Recent Exits:
- Sale of Tsebo Solutions Group to a consortium led by Wendel Group.
- Exit from Sovereign Foods through a strategic buyout.
Recent Investments:
- Investment in Bravo Group, strengthening its position in the furniture manufacturing sector.
- Investment in Tsebo Solutions Group, expanding its service offerings in facilities management.
Office Locations:
- Johannesburg (Headquarters): 28 Fricker Road, Illovo Boulevard, Johannesburg
- Additional Offices: None
Website: www.rockwoodpe.co.za
Quote: “We focus on creating lasting partnerships with businesses, helping them unlock their full potential through strategic investment and operational expertise.” – Mike Donaldson, Managing Partner
Phatisa
Investment Style: Phatisa specializes in development equity and private equity investments across Africa, focusing on agribusiness, food, and real estate sectors with an emphasis on impact investing and sustainable growth.
Portfolio Companies: Phatisa’s portfolio includes Meridian Group (fertilizer distribution), Rolfes Group (chemicals and water treatment), and J&J Transport (logistics).
Founding Date: 2005
Number of Investment Professionals: Approximately 40
Assets Under Management: Approximately $400 million
Key Investment Professionals:
- Stuart Bradley, Joint Managing Partner: Bradley leads Phatisa’s strategic investment initiatives and focuses on development equity across Africa.
- Duncan Owen, Joint Managing Partner: Owen oversees investment activities and value creation across the portfolio.
- Johan van Schalkwyk, Partner: Van Schalkwyk contributes to strategic planning and investment decisions, with a focus on agribusiness investments.
Recent Exits:
- Exit from Meridian Group through a strategic sale to a major industry player.
- Sale of Rolfes Group to a consortium of investors.
Recent Investments:
- Investment in J&J Transport, expanding its logistics network across Southern Africa.
- Investment in Meridian Group, focused on enhancing agricultural productivity in Africa.
Office Locations:
- Johannesburg: 23 Fricker Road, Illovo Boulevard, Johannesburg
- Additional Offices: Nairobi, Lusaka, London
Website: www.phatisa.com
Quote: “Our focus is on transforming African agribusiness and real estate sectors through impactful investments that deliver sustainable returns.” – Stuart Bradley, Joint Managing Partner
RMB Corvest
Investment Style: RMB Corvest provides equity financing for mid-sized companies, specializing in leveraged buyouts, management buyouts, and growth capital investments, with a focus on value creation and long-term partnerships.
Portfolio Companies: RMB Corvest’s portfolio includes Ascendis Health (healthcare), Tracker (vehicle tracking), and Tsebo Solutions Group (services).
Founding Date: 1989
Number of Investment Professionals: Approximately 30
Assets Under Management: Approximately $1 billion
Key Investment Professionals:
- Paulo De Matos, Director: De Matos plays a critical role in executing investments and managing portfolio companies.
- Edwin Hewitt, Director: Hewitt focuses on investment strategy and enhancing value within the portfolio.
Recent Exits:
- Sale of Ascendis Health to a strategic buyer in the healthcare sector.
- Exit from Tracker through a management buyout.
Recent Investments:
- Investment in Tsebo Solutions Group, enhancing its service capabilities across Africa.
- Investment in Tracker, expanding its vehicle tracking services.
Office Locations:
- Johannesburg (Headquarters): 1 Merchant Place, Fredman Drive, Sandton, Johannesburg
- Additional Offices: None
Website: www.rmbcorvest.co.za
Quote: “Our focus is on partnering with entrepreneurs to unlock potential and drive growth through strategic investments.” – Mike Donaldson, CEO
Agile Capital
Investment Style: Agile Capital specializes in mid-market private equity investments, focusing on buyouts and growth capital for businesses with strong growth prospects and significant value creation potential.
Portfolio Companies: Agile Capital’s portfolio includes Consol Glass (glass packaging), Universal Paints (coatings), and Kangra Coal (mining).
Founding Date: 2007
Number of Investment Professionals: Approximately 20
Assets Under Management: Approximately $300 million
Key Investment Professionals:
- Tshego Sefolo, Managing Partner: Sefolo leads Agile Capital’s strategic investment initiatives and oversees portfolio management.
- Rory Ord, Partner: Ord focuses on identifying and executing investment opportunities to drive growth.
- Frans Baleni, Partner: Baleni contributes to strategic planning and investment decisions.
Recent Exits:
- Exit from Kangra Coal via a sale to a consortium of investors.
- Sale of Consol Glass to Ardagh Group.
Recent Investments:
- Investment in Universal Paints, expanding its market presence in the coatings sector.
- Investment in Consol Glass, enhancing its production capabilities.
Office Locations:
- Johannesburg (Headquarters): 18 Fricker Road, Illovo, Johannesburg
- Additional Offices: None
Website: www.agilecapital.co.za
Quote: “We are committed to creating sustainable value through active partnerships and strategic investments in high-growth sectors.” – Tshego Sefolo, Managing Partner
Conclusion
Johannesburg’s private equity landscape reflects the dynamic nature of South African investment opportunities. As firms continue to evolve and adapt, they play a crucial role in driving economic growth and transforming local industries. The strategic insights and capital deployment by these firms demonstrate their potential to reshape market dynamics and create value.
Want to dive deeper into exit strategies and business acquisitions? Subscribe to my YouTube channel at @alexejpikovsky for weekly insights that will help you optimize your path to a successful exit.