SELECT DEALS AND TRANSACTIONS

BSM has established a significant track record in corporate advisory services.

 

The following provide a summary of select assignments undertaken by members of the BSM team, which have been sorted by their service offering type.

MERGERS, ACQUISITIONS AND DISPOSALS​
CONSTRUCTION

Group Five Coastal businesses (2020) – disposal to Uniq Holdings

 

Stefanutti Stocks (ongoing) – disposal of various non-core businesses

 

Tractionel (ongoing) - CIG business rescue and disposal

 

CONCO (ongoing) – business rescue and wind down

RETAIL

Furniture City (2014) – sale of business

 

Beares (2014) – sale of business to Lewis Group

 

Dial-a-Bed (2014) – sale of business to Coricraft

 

Geen & Richards (2014) - sale of business

 

Ellerines (2014) – sale of business

 

Ellerines Rest of Africa (2014) – sale of business

 

Wetherlys (2014) – sale of business

 

Massmart (1998) – acquisition of Game Stores and CAN

 

Wooltru (2002) – unbundling and listing of Massmart

 

Wooltru (2002) – unbundling and listing of Truworths

 

Wooltru (2002) – unbundling and listing of Woolworths

 

Massmart (2002) – disposal of Affinity Logic to Datatec

 

Wal-Mart (2010) – acquisition of Massmart in South Africa

 

Woolworths (2012) – acquisition of Witchery Australia

AGRICULTURE

British Sugar (2006) – acquisition of Illovo Sugar

 

Louis Dreyfus, agri-trader (2016) acquisition of Progress Milling

 

Cape Orchard Company (2019) – sale of various businesses and properties

PROPERTY

Liberty International (2010) – unbundling and listing of Capital and Counties

 

Texton (2014) – acquisition of Greenstone Mall

 

Texton (2014) – acquisition of UK portfolio

 

SA Corporate (2014) – acquisition of Afhco Holdings

 

SA Corporate (2015) – acquisition of Zambian portfolio

 

Transcend (2018) – R1.2bn portfolio acquisition

 

Group Five Properties (2020) – disposal to confidential consortium

 

Stefanutti Stocks (ongoing) - restructuring, disposal of various non-core properties held in portfolio

 

Tongaat Hulett, property and agri-processing group (ongoing) – capital raising, restructuring and sale of various businesses

MINING

MCC Indonesia (2017) – disposal of shares to Buildmax

 

MCC Tharisa (2017) – disposal of business to Tharisa

 

MCC Mogalakwena (2017) – disposal of business to Concor Mining

 

MCC Aganang (2017) – disposal of business to Buildmax

 

MCC Training Centre (2017) – disposal of business to Buildmax

 

MCC Botswana (2017) – disposal of assets

 

MCC PPM (2018) – disposal of assets

 

Sky Sands (2020) – disposal process

 

Consolidated Building Materials (ongoing) – disposal

 

Merafe (ongoing) – various processes

FINANCIAL SERVICES

Brait, investment holdings (1998) – merger of Capital Alliance Bank and Capital Partners, reversal of these assets into Tolux SA and relisting of merged businesses on the Johannesburg, Luxembourg and London Stock Exchanges

 

African Harvest (2003) – delisting

 

ABSA Bank (2005) – takeover by Barclays Bank Plc

 

Bond Exchange of South Africa (2007) – demutualisation and M&A strategy

 

Prefsure, insurance (2016) – sale of shares

 

Relyant Insurance Company, insurance (2016) – sale of shares

 

Relyant Life Assurance, insurance (2016) – sale of shares

TECHNOLOGY

Convergenet (2011) – sale of non-core assets

 

Vox (2014) – disposal process

 

Pinnacle Holdings (2014) – acquisition of Datacentrix

 

Altron (2014) – acquisition of Altech

 

BCX (2014) – takeover by Telkom

 

Altron and Altech (2014) – East Africa sale process

 

Autotrader, retail tech (2014) – disposal process

 

Discover Digital (ongoing) - disposal process

OTHER

Ukhamba, logistics (2004) – acquisition of minority stake in Imperial Logistics

 

Adcorp, education (2014) – acquisition of LSA Australia

 

Adcorp, education (2014) – acquisition of Paxus Australia

 

Sun International, gaming (2014) – sale of interest in various businesses

 

Greendoor Logistics / Cargo2Congo, logistics (2016) – sale of interest to the Carlyle Group

 

Steinmüller (ongoing) - capital raising, disposal process and sale of shares

 

AES (oil and gas) (ongoing) – disposalBritish Sugar (2006) – acquisition of Illovo Sugar

INDUSTRIALS

Mondi, manufacturing (2011) – unbundling and listing of Mpact

 

Jasco, manufacturing (2014) – restructuring and capital raising

 

enX Group, industrials (2017) – acquisition of Zestcor

 

Everite, manufacturing (2021) – disposal to confidential consortium

 

Conlog (ongoing) – disposal

HEALTHCARE

Aviz (2019) – disposal to private equity fund

 

RH Bophelo (ongoing) – various acquisitions, JSE processes and due diligences since listing

 

INFRASTRUCTURE

Intertoll Africa (2019) – disposal to the Mabentu Consortium

 

Intertoll Europe (2020) – disposal to consortium


GAIA (2020) – internalisation of Management Company


CPM (ongoing) – disposal


CIGenCo (ongoing) – CIG business rescue and disposal

RESTRUCTURING SERVICES
select deals (2014 - 2017)

Ellerine Furnishers (2014) (African based furniture retailer) – full restructuring of entire business


Ellerine Holdings (2014) (African based investment holding company) – full restructuring of entire business


Elgin Engineering (2015) (South African based heavy engineering company) – full restructuring of entire business


Progress Milling (2016) (South African based maize milling business) – advice in relation to the restructuring of the business post acquisition thereof


Basil Read (2017) (JSE listed construction company) – restructuring of various elements of Basil Read


eXtract Group (2017) (African contract mining company) – full restructuring of entire business


eXtract Group (2017) – restructuring of external debt of R1bn


eXtract Group (2017) – debt for equity swap of R1.9bn

select deals (2018 onwards)

Mintails Mining (2018) (South African based mining business) – business rescue and general assistancewith restructuring


Gardenshop (2018, 2020) (South African based retailer) – on-going restructuring of operations


Purple Group (2018) (South African financial services company) – corporate restructuring and capital raising


Denel (2019, 2021) – corporate restructuring review


Cape Orchard Company (2019) (Southern African based grape farms) – full restructuring of entire business


Tongaat Hulett Limited (2019, ongoing) - corporate restructuring (milling and property businesses)


Consolidated Infrastructure Group Limited and CONCO (ongoing) - corporate restructuring and business rescue


Group Five (ongoing) – corporate restructuring and business rescue


Stefanutti Stocks (ongoing) - corporate restructuring

STRATEGIC ADVICE
select deals (2015 - 2017)

Ornua (2015) (European based diary company) – acquisition strategy

 

MLP (2015) (South African based diversified holding company) – strategic advice in relation to investments

 

Wild Rose (2015) (South African based diversified investment company) – strategic advice in relation to disposal of certain assets

 

MN Attorneys (2016) (South African based law firm) – strategic advice in relation to legal case and the valuation thereof

 

Koogan Plastics (2016) (South Africa based plastics and packaging company) – strategic advice in relation to disposal process

 

Torre Industries (2016) (JSE listed industrial holding company) – strategic advice in relation to acquisition strategy

 

ZAR X (2016) (South African based stock exchange) – strategic advice in relation to capital raising process and strategy

 

South Ocean Holdings (2017) (JSE listed industrial holding company) – strategic advice

 

Edge Evolve (2017) (African based ICT company) – strategic advice

 

Metalsa (2017) (Global automotive manufacturer) – strategic advice in relation to acquisition strategy in Africa


Advance Cash and Carry (2017) (South Africa based cash and carry business) – strategic advice in relation to disposal process

 

select deals (2018 onwards)

Bunengi Group (2018) – general strategic advice


PG Glass (2019) – general strategic advice


GAIA Infrastructure Capital / Mahube (2020)– general strategic advice


IEC (2020) (Australia based listed mining company) – strategic advice in relation to African assets


Botswana Public Officers Pension Fund (BPOPF) (2021) – strategic advice regarding specific confidential matter in the retirement structuring space

CAPITAL RAISING + ADVISORY SERVICES
select deals (2001 - 2017)

Tiso Capital, PE fund (2001) – formation and capital raising for PE fund

 

Capital Alliance, insurance (2001) – rights issue

 

Associated British Foods (2009) – rights offer of Illovo Sugar

 

Gold One (2010) – capital raising

 

Tradehold (2011) – rights offer

 

AfrAsia Bank (2012) – capital raise through rights offer

 

Mine Restoration Investments (2012) – IPO

 

Tharisa (2014) – IPO

 

JD Group (2014) – rights offer

 

Accelerate Property Fund (2014) – IPO

 

Middelvlei Gold Mine (2015) - capital raising process

 

Elgin Engineering (2016) – capital raising process

 

Powerhouse Africa (2016) - capital raising process

 

SCS Aerospace (2016) - capital raising process

 

RH Bophelo (2017) (JSE listed) (South African based healthcare company) – IPO

 

Basil Read (2017) (JSE listed construction company) – capital raising from the Industrial Development Corporation

 

Discover Digital (2017) – capital raising from Thebe Private Equity

 

EduSciMat (2017) – capital raising process

 

Ivy Private Equity (2017) – ongoing capital raising process

select deals (2018 onwards)

Mintails Mining (2018) – capital raising process

 

Safari Investments (2018) – capital raising from SA Corporate Real Estate Limited

 

Purple Group (2018) (JSE listed) – capital raising of convertible instrument

 

Denel (2019) (SOE) – capital raising of working capital prior to National Treasury recapitalisation

 

GAIA Infrustructure Capital / Mahube (2020) (JSE-listed infrastructure investment holding company) – capital raising process and Manco Internalisation

 

Cresta Marakanelo (2020) – capital raising services

 

Bauba Resources (2020) (JSE listed) – capital raising investor presentation preparation

 

Transcend Residential Property Fund (2018,2021) (South African REIT) – capital raising process and portfolio acquisition

FINANCIAL DUE DILIGENCES AND INDEPENDENT REVIEWS
HEALTHCARE + PHARMACEUTICALS

Avicenna (2018)

 

Healing Hills (2018)

 

Life Piet Retief Hospital (2018)

 

Medicare Private Hospital (2018)

 

Aviz Laboratories (2019)

 

Peppina (2019)

 

Africa Assist (2019)

 

African Healthcare (2019)

 

Bell Street Hospital (2019)

 

GENRIC Insurance Company (2019)

 

Louis Pasteur (2019)

 

RMC (2019)

 

Spescare (2019)

 

Vryburg Private Hospital (2019)

 

Sakhiwo (2020)

 

Botshilu (2019 and 2020)

 

Health Worx (2019) and 2020)

 

HealthMed (2019 and 2020)

 

Rand Hospital (2019 and 2020)

 

RH Matjhabeng (2019 and 2020)

OTHER

Dusty Moon Investments (2018)


Maneli Pets (2019)


Public Investment Corporation (2020)


Real People Home Finance (2020)


Denel SOC Ltd (2019 and 2021)


Penflex, Alplas Plastics (2021)

VALUATIONS
CONSTRUCTION

Basil Read Construction (2017)


Al Tayer Stocks UAE (2020)


StefStocks Mining Services division (2020)


StefStocks Mechanical and Electrical (2020)


StefStocks Geotechnical division (2020)


StefStocks Civils division (2020)


StefStocks Coastal division (2020)


StefStocks Marine division (2020)


StefStocks Mozambique business (2020)


StefStocks Zambia business (2020)


StefStocks eSwatini business (2020)


StefStocks Botswana business (2020)


StefStocks Building division (2020)


Consolidated Infrastructure Group (2021)


Tractionel (2021)


Conco (2021)

RETAIL

Dial-a-Bed (2014)


Geen & Richards (2014) Furniture City (2014)


Ellerines (2014)


Beares (2014)


Barcelos (2016)


Advance Cash & Carry (2016)


DMF (2018)


GardenShop (2018, 2019 and 2020)

AGRICULTURE

Progress Milling (2016)

 

Cape Orchard Company (2019)

 

Meze Foods (2019)

 

Maneli (2018)

 

Tongaat Hulett (2020)

PROPERTY

SA Corporate Real Estate (2019)

 

Dipula Income Fund (2019)

 

International Housing Solutions (2019)

 

Transcend Residential Property Fund (2018 and 2021)

MINING

Mintails (2015)


Basil Read Mining (2017)


Extract Group (2017)


MCC Contracts (2017)


Holfontein (2018)


Merafe (2020)


Moolmans Contract Mining (2020)


Sky Sands (2020)


Consolidated Building Materials (2021)

FINANCIAL SERVICES

Relyant Insurance Company, Insurance (2015)

 

Relyant Life Assurance, Insurance (2015)

 

Prefsure, Insurance (2015)


African Unity Group (2017)


Purple Group Limited (2018)


Easy Equities (2018)

 

GT247 (2018)

 

Salt (2018)

 

Ubank (2019)

 

All Weather Capital (2019)

 

WesMart, Insurance (2019 and 2020)

TECHNOLOGY

SCS Aerospace (2016)

 

ICT-Works (2016)

 

Discover Digital (2017)

 

Edge Evolve (2017)

 

Valenture Institute (ongoing)

OTHER

Comprac, education (2016)

 

First National Media Investment Holdings, media (2016)

 

Greendoor Logistics, logistics (2016)

 

EduSciMat, education (2017)

 

Auditor General of South Africa – review of various valuations of SOE portfolio companies (2020 and ongoing)

 

Relativ Media, media (2019)

Penflex, Alplas Plastics (2021)

 

AES (2021)

INDUSTRIALS

Elgin Engineering (2015)

 

PG Glass (2016)

 

enX Group Limited (2016)

 

Grindrod Locomotives (2016)

 

KT Wash (2017)

 

Zestcor Eleven (2017)

 

IEC Holden (2017)


Koogan Plastics (2017)


Everite (2019)


Masslift (2019)


Afrisam (2019)


Sheet-Rite (2020)


Conlog (2021)

HEALTHCARE

Avicenna (2018)

 

Healing Hills (2018)

 

Life Piet Retief Hospital (2018)

 

Medicare Private Hospital (2018)

 

Africa Assist (2019)

 

African Healthcare (2019)

 

Bell Street Hospital (2019)

 

GENRIC Insurance Company (2019)

 

Louis Pasteur (2019)

 

RMC (2019)

 

Spescare (2019)

 

Aviz Laboratories (2019)

 

Peppina (2019)

 

Vryburg Private Hospital (2019)

 

Sakhiwo (2020)

 

Botshilu (2019 and 2020)

 

Health Worx (2019 and 2020)

 

HealthMed (2019 and 2020)

 

Rand Hospital (2019 and 2020)

 

RH Matjhabeng (2019, 2020 and ongoing)

INFRASTRUCTURE

GAIA Infrastructure Capital / Mahube (2018 and 2020)

 

Intertoll Europe (2019)

 

Intertoll Africa (2019)

 

CPM (2021)

 

CIGenCo (2021)

 

Vestas (2021)