Marlow Capital, the private equity firm based in South Africa, announced that it completed a deal to acquire Just Batteries, a specialist designer and developer of industrial batteries, at the beginning of September. The financial terms of the transaction were not reported. As with its other investments, Marlow will partner with the management team to grow the company to become a regional market leader in its sector.
Commenting on the transaction, Andrew Hunt, Marlow Capital’s Managing Director said, “We are thrilled to complete the purchase of Just Batteries, and are excited about the Company and its future growth prospects in South Africa and the rest of Sub-Saharan Africa.”
Just Batteries is one of South Africa’s leading, well-established providers of industrial power and energy, and has been in operation for more than 65 years. The company operates out of a single manufacturing facility, with the capacity to produce more than 1,000 battery packs per day. It sells it products noth domestically and internationally and has the capability to offer specialized products and services, including batteries for wireless applications, design and certification on intrinsically safe battery packs, injection tooling design and manufacture, vacuum forming and security battery manufacture.
Marlow Capital is focused on mid-market buyout opportunities in sub-saharan Africa, targeting cash generative firms that will benefit wither directly or indirectly from growing consumer demand and the large public and private investments made in infrastructure and new capital projects.