Jun 30, 2017
A transformative partnership
Wendel, one of Europe's leading listed investment firms, approached Standard Bank for funding solutions regarding the facilitation of an empowerment transaction in Tsebo Solutions Group (Pty) Ltd. Wendel, Capital Group and Tsebo required the right BEE partner for the deal so Standard Bank provided the funding which enabled WDB to enter into the transaction. WDB is a women-founded, led and managed investment holding company, with whom we have a long-standing relationship.
This transaction marks one of the largest acquisitions concluded by WDB to date and establishes them as significant shareholders in Tsebo Solutions Group (Pty) Ltd, together with Wendel and Capital Group, who are existing shareholders in Tsebo Solutions Group (Pty) Ltd. WDB will actively support the future growth of the asset as it pursues its strategy of becoming a leading Facilities Solutions provider.
Key players in the deal
WDB is a private enterprise formed in 1996 with the overarching purpose of making a positive difference in the lives of women and communities in South Africa. WDB currently has c. R6bn of total assets under management and seeks to be a strategic and transformational investor in high growth companies listed and unlisted companies across various sectors. One of WDB’s key objectives is to ensure the financial sustainability of the WDB Trust, which is mandated to focus on the economic empowerment and development of women in South Africa.
Tsebo Solutions Group (Pty) Ltd is the leading provider of facilities services in South Africa, holding a Level 1 BEE empowerment rating. Tsebo provides local and multinational clients with a full range of ‘non-core’ services that can be operated individually, or as an integrated package. This allows clients to maintain focus on their core operations without the distraction and cost of maintaining their business infrastructure. Clients benefit through reduced risk, cost and complexity, with improved transparency and productivity across their portfolio.
Wendel invests internationally in companies that are leaders in their field, such as Bureau Veritas, Saint-Gobain, Cromology, Stahl, IHS, Constantia Flexibles and Allied Universal. Wendel plays an active role in these companies, implementing long-term development strategies, which involve boosting growth and margins of the business to enhance their leading market positions.
Capital Group Private Markets is an experienced leader in emerging markets private equity and a pioneer of the global approach to building a diversified portfolio of the most compelling risk-adjusted investments across global emerging markets in the funds it manages. Capital Group Private Markets has historically backed strong management teams and market-leading franchises through selective access to the most compelling emerging markets its focused regions and sectors.
A commitment to achieving inclusive growth
As lead funder, Standard Bank is proud to have played a pivotal role in bringing these parties together. Our global knowledge, on-the-ground expertise and strong relationships with the key players were instrumental in allowing us to deliver an innovative funding solution that will enable WDB to continue with the empowerment of women and the upliftment of communities.
This deal is a testament to our ongoing commitment to bring about transformational change, not only in South Africa, but throughout the continent. We are delighted to have delivered a financing solution that will enable WDB to meet its transformational objectives and create long-term value.Back to all deals
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