Standard Bank supports Sanlam Private Equity in acquiring SkipWaste
15 Feb 2023
Country
South Africa
Year
2023
Sector
Diversified Industries
Business Unit
Corporate and Investment Banking
Specific Role
Mandated lead arranger and sole lender
Standard Bank is proud to announce that it has recently supported Sanlam Private Equity through providing the acquisition finance to facilitate the successful acquisition of a controlling interest in SkipWaste. Sanlam Private Equity is a division Sanlam Investments.
SkipWaste is a leading provider of integrated waste management solutions to commercial, industrial and retail clients primarily in Gauteng. The company offers innovative and environmentally conscious waste management solutions to its clients through waste diversion from landfill disposal towards recovery, recycling and alternative disposal.
The bank acted as the mandated lead arranger and sole lender in the acquisition.
With Sanlam’s BEE credentials, SkipWaste has become the largest majority black-owned integrated waste management provider in South Africa.
Sanlam Private Equity made the acquisition through its new private equity fund, SPE Mid-Market Fund I, which is 1 of 3 impact-focused funds in the Sanlam Investors’ Legacy Range. The fund aims to create and preserve 27 000 jobs while still delivering value for investors. SkipWaste becomes the fourth acquisition in the fund.
SkipWaste will continue to promote its sustainable waste management strategy, and the company’s growth and diversification will be through the diversion of various organic, food and construction waste from clients seeking ‘greener’ waste management solutions and increased contribution to the circular economy through recycling and conversion.