Jaycor sells 53% stake to black-owned equity firms
Provider of specialised cables, connectors, infrastructure and related active components Jaycor International has sold a 53% stake in the company to black women-owned investment company Moshe Capital and private equity investment firm Sanari Capital.
Jaycor founders and executive directors own the balance of the company.
The company on Friday said the transaction, which results in 30% black women ownership, paves the way for sustainable and inclusive growth, and economic transformation for the business, staff and shareholders.
“Jaycor is a proudly South African business and is deeply committed to broad-based black economic empowerment, economic growth, social and skills development for the benefit of all. The empowerment transaction further affirms Jaycor’s commitment to inclusive ownership and transformation,” said Jaycor found and MD Jeff Pokroy.
Moshe Capital CEO Mametja Moshe added that Jaycor “is a remarkable niche market player in the cabling industry. We look forward to unlocking value and growing together to become a global cabling player of reference.”
Sanari Capital principal Moushmi Patel noted that, through the transaction, the company saw “tremendous” potential to tap into the growth of the “connected enterprise”, automation and Industry 4.0.
“We have been extremely pleased with our investment to date and management’s creative avenues to unlock new growth opportunities in a traditional industry, not the least of which is its smart e-commerce platform.”
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