Imperial Holdings is one of South Africa’s largest companies operating in the wider transportation and mobility markets in Southern Africa, Europe and the United Kingdom. The group’s activities in these markets encompass a wide range of services.
Sun International – Investment in the Sun International was realised. Lereko led a broad-based empowerment consortium in a transaction to acquire a share in the significant tourism, leisure and gambling group. The consortium comprised Sun International’s workers, communities in and around Moruleng, Carousel and Sun City and black business groupings with a focus on the participation of the people of the North West. Dinokana effected a share buy-back of shares held by Lereko, Phodiso, Tsutsuma and Balapeng on maturity of the BEE transaction.
Eqstra Holdings is an integrated leasing and capital equipment group with value-added services in the passenger and commercial vehicle, industrial equipment and construction and mining markets. Eqstra Holdings listed on the main board of the Johannesburg Stock Exchange in May 2008.
SAPPI – Lereko exited its investment in Sappi in June 2016 at the unbundling of its shares to its own shareholders. The shareholders, however, remain tied to Sappi through a lock-in period that expires in 2018.
Lereko’s relationship with Sappi dates back to 2006 when a Lereko-led consortium concluded a broad-based BEE transaction in which the consortium acquired 25% of the undivided share of SAPPI land holding.
Tsebo Outsourcing Group - Lereko acquired a 15% interest in Tsebo Outsourcing Group in December 2007.
Tsebo is the holding company of Fedics, the largest catering business in South Africa; Drake & Scull, the second largest facilities management company and Equality, a catering business with contracts in the mining sector. Absa acquired 100% of the business from Ethos Private Equity through an auction process and then sold down 20% to management and 30% to BEE partners which included Lereko.
CISCO - In September 2007, Lereko concluded a BEE investment transaction with Cisco Systems Inc, a USA Nasdaq listed company, acquiring a 20%interest in a newly formed local subsidiary, Cisco Technology and Services (South Africa). The listed shares vested over a 10-year period based on the performance of the local subsidiary and the value-add contributed by Lereko.
Cisco offers hardware, software and related services that allow individuals, companies and countries to increase productivity, improve customer satisfaction and strengthen competitive advantage in a secure and integrated network environment. Cisco currently has four prominent brands: Cisco, Linksys, Webex and Scientific Atlanta.
Astrapak - Established in 1996 and listed on the Johannesburg Stock Exchange, is a consolidation of plastic packaging companies headquartered in Denver, Johannesburg.
It operates nationally through Rigids and Flexibles divisions and employs over 4 400 people in its operations which report annual revenues of around R2.6bn, making it the largest player in the South African plastic packaging market.
IMM GROUP - Professional Learning Group PLG is a holding company established by LMCGF and including co-investment from Ke Nako Capital and the Dutch development agency FMO, as part of an education sector build-up investment. The Education Platform intends to target strategic bolt on acquisitions in the private tertiary distance education space. The platform has made one investment to date, being the Institute of Marketing Management (IMM)Group. IMM employs more than 75 staff and provides industry endorsed education and training products.
Professional Learning Group has made two investments to date in its strategy to create a high quality, reputable, private tertiary education group of scale with operations covering South Africa and Sub-saharan Africa, Being the IMM Group of companies (IMM Operations) and Oxford College of Marketing (Oxford College). IMM Operations employs approximately 80 staff and provides industry endorsed higher education and training products. Oxford College employs 18 staff and is a provider and tutor of tertiary higher education courses in marketing, supply chain and sales.
Liberty Star Consumer Holdings (Libstar) – Lereko together with LMCGF sold the investment in Libstar to a consortium led by Abraaj in October 2014. Libstar, headquartered in Johannesburg, manufactures and distributes food, household and personal care products. The company operates nationally through subsidiaries and has a consolidated turnover of around R4.5 billion.
Surgical Innovations – The Fund sold the company to Ascendis Health. Surgical Innovations, with head offices in Fourways, Johannesburg, is a fast growing medical device distributor, specialising in the consumable and equipment needs of South African surgeons. Surgical Innovations employs more than 100 people and has achieved compound annual growth in revenues of over 25% since 2008.
