M&A Deal Summary

Aka Capital, Old Mutual Private Equity, Ethos Private Equity and Actis Capital Acquire Savcio Holdings

On March 1, 2005, private equity firm Aka Capital, corporate investor Old Mutual Private Equity, private equity firm Ethos Private Equity and private equity firm Actis Capital acquired business services company Savcio Holdings for 1.3B ZAR

Acquisition Highlights
  • This is Aka Capital’s 1st, Old Mutual Private Equity’s 1st, Ethos Private Equity’s 3rd and Actis Capital’s 2nd transaction in the Business Services sector.
  • This is Aka Capital’s 0th, Old Mutual Private Equity’s 0th, Ethos Private Equity’s 2nd and Actis Capital’s 10th largest (disclosed) transaction.
  • This is Aka Capital’s 3rd, Old Mutual Private Equity’s 4th, Ethos Private Equity’s 19th and Actis Capital’s 5th transaction in South Africa.
Investment Fate
  • Savcio Holdings was sold to a strategic buyer in 2012.

M&A Deal Summary

Date 2005-03-01
Target Savcio Holdings
Sector Business Services
Buyer(s) Aka Capital
Old Mutual Private Equity
Ethos Private Equity
Actis Capital
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 1.3B ZAR

Target

Savcio Holdings

Bedfordview, South Africa
website
SAVCIO is the largest privately-owned provider of maintenance and repair services for rotating electrical equipment and transformers in Africa.

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Buyer(S) 4

Buyer

Aka Capital

Bryanston, South Africa

Investor

website


Category Private Equity Firm
Founded 2001
Size Small
Type Sector Agnostic
DESCRIPTION

Aka Capital is a South African private equity firm that seeks to acquire companies and take an active role in building portfolio company value. Aka Capital was formed in 2001 and is based in Bryanston, South Africa.


DEAL STATS #
Overall 3 of 4
Sector (Business Services) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 2 of 2
Country (South Africa) 3 of 4
Year (2005) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-11-01 Corobrik

Durban, South Africa

Corobrik is South Africa's largest brick manufacturer, accounting for over 70% in its market segment. The company focuses on the supply of quality clay stock and face bricks.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-07-04 Protea Hospitality Holdings

Western Cape, South Africa

Protea Hotels is a hotel group in Africa with an extensive footprint; more than 116 hotels throughout South Africa and six other African countries, including Zambia, Nigeria, Namibia, Malawi, Uganda and Tanzania. The company was founded in 1984 and has grown its portfolio and brands since. The group comprises of two brands, namely the mid-up market Protea Hotels (including the lifestyle brand Protea Hotel Fire & Ice!) brand and the superior deluxe African Pride Hotels, Lodges and Country Houses brand.

Buy -
DESCRIPTION

Old Mutual Private Equity (OMPE) is private equity arm of South African financial services firm Old Mutual. OMPE is both a fund and direct investor and generally targets opportunities throughout the Southern region of Africa. OMPE looks to invest a minimum of R100 million per transaction and typically seeks to hold investments for a period of 5 to 7 years. Types of transactions include take privates, MBOs, LBOs, growth capital financings, and recapitalization. Old Mutual Private Equity was formed in 2004 and is based in Pinelands, South Africa.


DEAL STATS #
Overall 4 of 10
Sector (Business Services) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 3 of 7
Country (South Africa) 4 of 10
Year (2005) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-10-01 Metaf Investment Holdings

Booysens, South Africa

Metcash is a leading African distributor of Fast Moving Consumer Goods (FMCG). The business has extensive wholesale and franchise retail interests in South Africa, and operates in five other African countries: Malawi, Zimbabwe, Namibia, Swaziland and Lesotho.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-04-01 Consol Glass

Johannesburg, South Africa

Consol Glass is a manufacturer of glass packaging products on the African continent and operates 7 manufacturing sites (4 in SA, 1 in Kenya, 1 in Nigeria, and 1 in Ethiopia) strategically located in close proximity to customers. Consol Glass was founded in 1946 and is based in Johannesburg, South Africa.

Buy -
Buyer

Ethos Private Equity

Illovo, South Africa

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1984
PE ASSETS 1.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Ethos Private Equity is a private equity investor that targets opportunities in South Africa. Ethos looks for stable businesses valued between $15 and $100 million US. Target transactions include divestitures of non-core assets, sector consolidations, development of family owned businesses, growth financings, and turnarounds. Ethos was formed in 1984 and is based in Johannesburg, South Africa.


DEAL STATS #
Overall 21 of 48
Sector (Business Services) 3 of 6
Type (Buyout (LBO, MBO, MBI)) 20 of 33
Country (South Africa) 19 of 42
Year (2005) 1 of 1
Size (of disclosed) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-01-01 Defy

Polokwane, South Africa

Defy is the market leading manufacturer, distributor and marketer of major household appliances. It has large manufacturing plants in Durban, Ladysmith and East London, backed by a nationwide distribution and service network.

Sell руб.550M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-01-01 Doves Group

Durbanville, South Africa

The Doves Group as one of the largest funeral directing companies in Southern Africa is a major role player in the progressive development of the funeral industry in this part of the world. As a founder member of the National Funeral Directors Association (NFDA) and the Funeral Federation of South Africa (FFSA) it has influenced the present day structure of the industry.

Sell -
Buyer

Actis Capital

London, United Kingdom

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2004
PE ASSETS 24.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Actis Capital is a private equity firm focused on investments in emerging markets. Actis segments its investment activity into three areas. These include private equity, energy, and real estate. Actis' private equity team looks for buyout and growth capital opportunities requiring at least $50 million in financing. Depending on the situation, Actis will consider both controlling and minority investment situations. Sectors of interest include financial services, consumer and retail, business services, and industrial. Actis' energy group seeks to invest in in a variety of energy and utility projects. Actis' real estate team invests equity capital in office, residential, industrial, hotel and retail projects. Actis Capital was established in 2004 and is based in London.


DEAL STATS #
Overall 34 of 143
Sector (Business Services) 2 of 5
Type (Buyout (LBO, MBO, MBI)) 11 of 42
Country (South Africa) 5 of 17
Year (2005) 8 of 13
Size (of disclosed) 10 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-02-28 Avtec

New Delhi, India

Avtec Ltd. is an independent manufacturer of engines and transmissions (Powertrains), supplying critical auto components to reputed global OEMs including GM, Ford, Mahindra & Mahindra, Caterpillar, BEML and Hindustan Motors.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-03-29 Celtel International B.V.

Libreville, Gabon

Celtel International B.V. builds and operates world class communications networks that deliver reliable and competitive services in Africa.

Sell $2.8B