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Kagiso Tiso Holdings acquires a 51% stake in Servest

Image Credit: Servest

Kagiso Tiso Holdings, the South African investment manager, is investing almost $82 million to acquire a 51% stake in Servest Group. The unlisted facilities management company, which posted EBITDA of $41 million in 2014, serves 6,500 clients at 24,000 sites in South Africa, east and West Africa as well as the UK. The deal, which values the group at approximately $370 million, provides RMB Corvest with a partial exit from its investment, which it originally made in 2006, generating an IRR in excess of 20%.

The deal remains subject to approval by South Africa’s Competition Commission.

Read more at Business Day…

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  1. Weekly Wrap, July 27th, 2015; KTH, Databank, OPIC and more make private capital news last week | Africa Capital Digest

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