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Tsebo concludes equity transaction with two global investment firms

Tsebo concludes equity transaction with two global investment firms

Tsebo welcomes two global investment firms, Wendel SE and Capital Group as our international shareholders alongside local partners and management effective 1 February 2017. Together they manage global assets worth more than $20bn, and they have an extensive African footprint in many industries.

In South Africa, the Tsebo ownership structure will include a BEE consortium in South Africa and maintain Tsebo’s Level 1 BBBEE status on the amended (“new”) codes.

This transaction is not only a huge endorsement for Tsebo’s track record, growth strategy and unique position in the global facilities management market, but is also sure to accelerate Tsebo’s growth even more through the intellectual property and financial strength that Wendel and Capital bring.

Wendel SE will be the lead investor. They are a family-controlled investment company with a history that extends back over 300 years. Today Wendel has a market capitalisation of around €5 billion, gross assets under management of over €10 billion and €1.8 billion cash on its balance sheet. Wendel invests internationally, in companies that are leaders in their field, and is currently the reference shareholder of Bureau Veritas, Saint-Gobain, Cromology, Stahl, Constantia Flexibles and Allied Universal, and their African portfolio includes assets in numerous industries complimentary to Tsebo such as IHS (telecom towers), SGI Africa (commercial real estate) and Saham (insurance).

Capital Group Private Markets is an experienced leader in emerging markets private equity investment, and a pioneer of the global approach to building a diversified emerging markets portfolio. Capital Group are invested in Africa in industries such as resources (Glencore), energy (Seven Energy Nigeria), Glassworks (Consol) and pharmaceuticals (AMoun Egypt), and bring a wealth of experience in value creation in developing economies.

Clive Smith, Chief Executive Officer of Tsebo said, “Tsebo has a proud history of supporting its clients through the unique combination of delivering global standards with a deep African expertise. We are delighted to be able to partner with Wendel and Capital Group as they bring to a true global capacity whilst maintaining our entrepreneurial culture that enables us to exceed our customer’s expectations”.

Moving forward, Tsebo are inspired to build a legacy of economic and social growth in Africa and make a valuable contribution to the next African generation and beyond.