African private equity fund manager Phatisa and heavy-equipment supplier Kanu Equipment’s management will buy JSE-listed Torre Industries’ shareholding in Kanu.
“Phatisa has supported our growth aspirations and shares Kanu’s vision of becoming the foremost equipment dealer in Africa. We look forward to continuing our journey with Phatisa as Kanu grows from strength to strength,” commented Kanu CEO Stephen Smithyman.
Since the initial investment in June 2016, Phatisa has supported Kanu’s ambitious expansion plans by using its sector expertise and African network to source new growth opportunities.
The most recent transaction reinforces the partnership between Phatisa and Kanu, enabling Kanu to pursue its strategic objectives of extending its African footprint and expanding its network of loyal customers across the continent.