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News > Private Equity > Deals

PAPE Fund 3 takes stake in South African logistics company

Africa Global Funds
Aug. 5, 2018, 3:28 p.m.

Word count: 256

PAPE Fund 3 has acquired a 48.3% equity interest in Laser Group, one of South Africa’s largest independently owned logistics companies. 

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PAPE Fund 3 has acquired a 48.3% equity interest in Laser Group, one of South Africa’s largest independently owned logistics companies. 

Zuko Kubukeli, PAPE Fund Managers CEO, said the acquisition of this stake in Laser is the culmination of more than a year of sustained interaction with the logistics group, focussing on realising a viable management buyout from existing shareholders. 

Laser Group’s key executives will continue to own 51.7% of the business.

PAPE Fund 3’s mandate is to deploy investors’ capital into targeted mid-cap, unlisted South African businesses that demonstrate high growth potential and the opportunity to transform the South African economy. 

Laser is a well-established enterprise with a highly competent management team and pedigreed international partners. PAPE Fund 3 views this business as holding enormous potential for future growth and expansion.

Philip Hayes, Chairman of Laser, welcomed the acquisition: “This transaction brings to our group a Level-1 BBBEE rated shareholder with whom we can engage to grow our business in our both our core markets and new niche markets.” 

“All of our operating brands – DPD Laser, Dawn Wing, Time Freight, Laser Logistics and GAC Laser – stand to benefit hugely from our partnership with PAPE Fund 3. The transaction has also enabled and empowered the Executive team to take ownership of the business and grow this to new levels of performance and profitability.”

PAPE Fund 3 is a newly established boutique private equity fund that realised its first closing on July 11, 2018 with ZAR471m in initial capital commitments. 

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