Ethos Private Equity has sold Plumblink, the plumbing and bathroom business based in South Africa to The Bidvest Group. Terms of the deal were not disclosed. The transaction has been submitted to the Competition Commission for the required approvals.
Plumblink is a specialist plumbing and bathroom merchant which operates from 61 branch locations across South Africa. It offers customers more than 10,000 products, sourced form over 200 suppliers located in South Africa as well as overseas.
Ethos acquired Plumblink in 2006, through its fifth fund, which is continues to harvest while sourcing new investments for its sixth fund. To date, the firm has made 103 investments and successfully exited 89. Plumblink will be the 90th exit on completion.