Acquisitions in South Africa

SS&C Technologies Holdings, Inc. has completed the acquisition of Curo Fund Services, a South African fund administration solutions provider, from a joint venture between Sanlam and Old Mutual; financial terms were not disclosed. The deal adds roughly 300 employees in Cape Town and brings Curo into SS&C’s Global Investor & Distribution Solutions group to expand SS&C’s fund administration capabilities and presence across South Africa and the broader African continent.

Mitsubishi Electric Corporation’s wholly owned subsidiary, Mitsubishi Electric Hydronics & IT Cooling Systems S.p.A. (MEHITS), acquired a stake in Intramech Pty Ltd., a South African provider of sales and services for applied HVAC and IT cooling systems. The investment is intended to deepen the partnership and expand one-stop capabilities across southern Africa, supporting growing demand for data center cooling solutions including design support, installation, operation, and maintenance.

NTT DATA announced it has acquired EXAH, a Salesforce Consulting Partner and AI implementation specialist, to enhance its Salesforce and AI delivery capabilities across the Middle East and Africa region. The deal is intended to strengthen NTT DATA’s in-region expertise by combining EXAH’s technical skills and customer-focused Salesforce delivery with NTT DATA’s global scale and partnerships.

Darktrace announced the acquisition of Mira Security, a provider of network traffic visibility and in-line decryption solutions. The deal is intended to strengthen Darktrace’s Network Detection and Response capabilities by improving insight into encrypted traffic and expanding decryption offerings for regulated industries across on-premises, cloud, and hybrid environments. Mira Security’s engineering team (based in Centurion, South Africa and the United States) will join Darktrace’s R&D organization to support next-generation hardware and networking R&D.

Volaris Automotive, a division of Volaris Group, announced the acquisition of Britehouse Automotive, a developer of dealer management and other automotive software solutions. Britehouse Automotive had been a subsidiary within Dimension Data/NTT, and the sale aligns with NTT’s strategy to divest non-core businesses.

Warner Music Group (WMG) announced it has completed the full acquisition of Africori, an independent African music distributor representing more than 7,000 artists. Africori will continue to operate as a standalone entity with Yoel Kenan remaining CEO and reporting to Temi Adeniji, Managing Director of Warner Music Africa. WMG previously invested in Africori in 2020 and acquired a majority stake in 2022 before completing the buyout this month.

Envoy Global acquired IBN Immigration Solutions, an immigration services provider headquartered in Cape Town, South Africa with additional offices in Johannesburg, Nairobi, and Windhoek. The deal expands Envoy Global’s Africa footprint and strengthens its ability to deliver corporate immigration services across the EMEA region.

PETE, an AI-powered workforce training solutions provider headquartered in Orlando, Florida, acquired PlutoLMS, a corporate learning management system (LMS) company based in Cape Town, South Africa. The deal expands PETE’s international footprint and customer base while combining PETE’s AI-driven training capabilities with PlutoLMS’s LMS platform to better serve global enterprises.

Longstreth Sporting Goods acquired Kimsports CC, a leading supplier and distributor of field hockey equipment in South Africa headquartered in Knysna. Kimsports will continue operating under the Longstreth umbrella with founder Shane Schonegevel continuing to lead South African operations. Longstreth is backed by Roebling Capital Partners and has been building its field hockey platform through recent combinations including Cultor and Max Field Hockey.

Haier Smart Home Co., Ltd. has completed its acquisition of Electrolux South Africa Proprietary Limited (ESA), a subsidiary of Electrolux Group specializing in water-heating solutions in South Africa, bringing the Kwikot brand into Haier’s portfolio. The transaction was valued at ZAR 2.45 billion and is intended to strengthen Haier’s manufacturing, distribution, and after-sales footprint in South Africa and support expansion across the Middle East and Africa region.

Moody's Corporation has fully acquired Global Credit Rating Company Limited (GCR), a domestic credit rating agency operating across Africa. The deal follows Moody's 2022 acquisition of a majority stake in GCR and further expands Moody's presence in Africa's domestic credit markets; financial terms were not disclosed.

Busbud, a Montreal-based ground travel booking platform, has acquired South Africa-based Ratality to integrate its revenue management optimization software into Busbud’s growing B2B offering. The deal (terms undisclosed) adds capabilities such as dynamic pricing, demand forecasting, and fleet/driver management, with Ratality’s brand retained and CEO Arend de Waal continuing to lead the business.

Alterra Capital Partners, together with Mineworkers Investment Company (MIC) and Admaius Capital Partners, agreed to acquire a majority stake in Chill Beverages from Old Mutual Private Equity. The transaction is the first investment by Alterra’s Africa Accelerator Fund and is intended to support Chill’s continued growth across its beverage brands and distribution footprint in South Africa.

Adenia Partners, through Adenia Capital (V) LP and alongside co-investors DEG, Proparco, and South Suez, acquired 100% of The Courier Guy. The Courier Guy is a South Africa-based last-mile delivery and express parcel services provider; financial terms were not disclosed.

Carlyle agreed to sell Amecor, a South African designer, manufacturer, and distributor of security communication equipment and network services, to ASSA ABLOY Group. Financial terms were not disclosed. Amecor is headquartered in Johannesburg and serves security companies across Sub-Saharan Africa.

center3, a wholly owned subsidiary of stc Group, entered into a definitive agreement to acquire CMC Networks, a global networking solutions provider focused on Africa and the Middle East. CMC Networks is being acquired from the Carlyle Sub-Saharan Africa Fund, which is advised by Alterra Capital Partners. The deal is subject to customary conditions and approvals and is intended to support center3’s growth and expansion strategy in the region.

P95 BV, a portfolio company of Ampersand Capital Partners, signed an agreement to merge South Africa-based CRO OnQ Research into P95, subject to regulatory approval. The combination expands P95’s geographic footprint—particularly in Africa—and strengthens its vaccine-focused clinical and observational research capabilities, while continuing to support clinical research beyond vaccines.

AgroFresh Solutions Inc., a Paine Schwartz Partners portfolio company, completed its acquisition of Tessara. The deal expands AgroFresh’s post-harvest freshness and quality solutions into table grapes and berries by adding Tessara’s SO2-generating packaging sheets, following clearance by South African competition authorities.

BP3 Global has completed the acquisition of Cape Town-based Intelligent Automation consultancy DigiBlu SA. The deal expands BP3’s intelligent automation services capabilities and geographic reach across North America, Europe, and Southern Africa, with DigiBlu’s team integrating into BP3. The transaction follows Horizon Capital’s November 2021 investment in BP3 and supports BP3’s ongoing M&A-led growth strategy.

All4Labels Global Packaging Group, a Triton Fund V portfolio company, has agreed to acquire First Impression Labels from the Hirt and Carter Group. First Impression Labels will become a wholly owned subsidiary of All4Labels, expanding All4Labels’ label and sleeves capabilities in South Africa. Financial terms were not disclosed and the deal is subject to customary closing conditions and regulatory approval.

The Rohatyn Group (TRG), a global asset management firm focused on emerging markets and real assets, completed its acquisition of Ethos Private Equity, an Africa-focused alternative asset manager. The deal marks TRG’s expansion into Africa; financial terms were not disclosed.

Kerridge Commercial Systems (KCS) has acquired Johannesburg-based Palladium Business Solutions and its suite of ERP and business management software products. The deal expands KCS’s presence in Southern Africa and adds Palladium’s customer base and channel partners, creating a combined business serving approximately 13,500 customers and 75,000 users.

PayProp raised a significant, undisclosed growth investment from a consortium of investors including Rational Expectations, Betterhome, Accel-KKR, and participation from the company’s founders and management. The funding will support PayProp’s expansion in existing and new PropTech payments markets, with an emphasis on product innovation and scaling infrastructure.

MRI Software announced the acquisition of Johannesburg-based TPN Group, a registered specialist credit bureau in South Africa. The deal strengthens MRI’s real estate software offering by adding deeper tenant insights, verification services, and risk-mitigation data for residential, commercial, and education market clients in the region.

WilsonHCG, a global provider of total talent solutions, acquired Tracking Talent to expand its footprint across South Africa and the broader EMEA region. Tracking Talent, founded in 2016 and headquartered in South Africa, provides talent acquisition solutions primarily to financial services and commercial organizations.

Arkema finalized its acquisition of South Africa-based Permoseal, a leader in adhesive solutions for DIY, packaging, and construction. The deal strengthens Arkema’s Bostik adhesive business in South Africa and Sub-Saharan Africa, expanding its presence in retail channels and enhancing its construction and packaging adhesives offerings. Permoseal generated €43 million in sales in 2021 and operates two production plants in South Africa.

IDU Holdings, a financial planning and analysis (FP&A) software company, completed a merger with IDU KZN, previously an independent business partner. The transaction, completed on 1 June 2022, brings IDU KZN’s team and customers across multiple African markets under IDU, expanding IDU’s regional footprint and support capabilities.

One Thousand & One Voices (1K1V), in partnership with Crossfin Technology Holdings and investor Isaac Mophatlane, completed the acquisition of the Sybrin Group of Companies (Sybrin), with all conditions and approvals fulfilled on 31 March 2022. Sybrin provides software solutions focused on digital transformation, automation, and payment/information processing for financial services providers and enterprise clients, and the new owners plan to support international expansion and collaboration across Africa and other regions.

Volaris Group completed the acquisition of Adapt IT, taking a controlling stake in the South Africa-founded software business. Volaris acquired 63.87% of Adapt IT shares at R7.00 per share, and Adapt IT will continue operating as an independent business unit within Volaris under CEO Tiffany Dunsdon.

Digital Realty signed a definitive agreement to acquire a majority of the stakes in Teraco Data Environments from Berkshire Partners and Permira. Berkshire Partners, the Permira funds, and existing investor van Rooyen Group will retain minority equity interests, and Teraco’s management team will continue to lead the business. The transaction is subject to customary South African regulatory approvals and is expected to close in the first half of 2022.

Exclusive Networks has completed the acquisition of Networks Unlimited, a South Africa-based cybersecurity specialist value-added distributor. The deal establishes Exclusive Networks’ first presence in sub-Saharan Africa and expands its Middle East & Africa region. Networks Unlimited’s leadership and certain existing shareholders will remain involved as the business integrates into the Exclusive Networks brand.

Acronis, a global cyber protection company, acquired Synapsys, its long-time distribution partner based in Cape Town, South Africa. Synapsys distributes Acronis Cyber Protection Solutions through sub-distributors, resellers, and managed service providers across South Africa and the African continent. Following a transition period, Synapsys will be integrated into Acronis and support Africa sales for Acronis' cyber protection solutions.

Woolpert acquired Southern Mapping, a Johannesburg-based geospatial solutions provider and aerial survey company specializing in high-accuracy lidar, hyperspectral imagery, and remote sensing. The deal expands Woolpert’s global geospatial services footprint by adding an Africa-based presence and strengthening its ability to serve clients across Africa and worldwide.

Denham Capital sold BioTherm Energy, an African independent renewable power producer, to Actis Capital for an undisclosed amount. Denham had backed BioTherm through its Fund V and built the business into a leading wind and solar developer/operator in Africa, including early projects in South Africa.

Berkshire Partners LLC entered into a definitive agreement to acquire a majority stake in Teraco Data Environments, a leading African provider of colocation data center infrastructure. Permira funds, an existing shareholder, will remain a significant investor following the transaction, which is expected to close in the first quarter of 2019 subject to regulatory approvals.

Garmin Ltd. announced it has acquired the assets of iKubu (Pty) Ltd., a privately held developer of computer vision and radar systems for the cycling market. iKubu was developing the Backtracker low-energy bike radar, and most former iKubu employees will join Garmin’s existing South African subsidiary to continue R&D operations in Stellenbosch. Financial terms were not disclosed.

Visa Inc. agreed to acquire Fundamo, a Cape Town-based provider of mobile financial services platforms for mobile network operators and financial institutions in developing markets, for approximately $110 million in cash. In a separate move announced alongside the deal, Visa also signed a new long-term commercial agreement with Monitise plc to expand mobile financial services for Visa account holders and partners.