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M&A Deal Summary

Ethos Private Equity Acquires First Lifestyle Holdings

On October 12, 2000, private equity firm Ethos Private Equity acquired financial services company First Lifestyle Holdings for 492M ZAR

Acquisition Highlights
  • This is Ethos Private Equity’s 2nd transaction in the Financial Services sector.
  • This is Ethos Private Equity’s 5th largest (disclosed) transaction.
  • This is Ethos Private Equity’s 15th transaction in South Africa.
Investment Fate
  • First Lifestyle Holdings was sold to a strategic buyer in 2007 for 1.2B ZAR.

M&A Deal Summary
Date 2000-10-12
Target First Lifestyle Holdings
Sector Financial Services
Buyer(s) Ethos Private Equity
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 492M ZAR

Target

First Lifestyle Holdings

Germiston Gauteng, South Africa
First Lifestyle Holdings Ltd. through its subsidiaries engages in the production, marketing, and distribution of branded and private label food products in South Africa. First Lifestyle Holdings Ltd. was formerly known as First SA Food Holdings Ltd.

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Buyer(S) 1

Buyer

Ethos Private Equity

Illovo, South Africa
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 16 of 48
Sector: Financial Services M&A 2 of 4
Type: Buyout (LBO, MBO, MBI) M&A Deals 16 of 33
Country: South Africa M&A 15 of 42
Year: 2000 M&A 3 of 3
Size (of disclosed) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-10-04 KFM RADIO

Cape Town, South Africa

KFM manufactures pressure gauges and thermometers. The company is now part of WIKA, a German strategic acquirer.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2001-01-01 Prowalco Pty

Johannesburg, South Africa

Prowalco was into the business of Import & distribution of diesel engines and fuel pumps. Prowalco exited the Cummins Diesel business by international trade sale to Cummins Incorporated

Sell -
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