Legacy Africa Capital Partners’ (LACP) deal to acquire a South Africa-based industrials holding company focused on the packaging space has been approved by a deals regulator.
The investor is acquiring Kelpack Investment Holdings which operates through Kelpack Manufacturing.
Financial details of the transaction have not been disclosed.
LACP is a private equity arm of Legacy Africa Fund Managers, a South Africa-based investment firm which invests in listed companies.
Legacy Africa Fund Managers owns 60% stake in LACP with the remaining 40% being held by LACP’s management team.
LACP is structuring the deal through LACP Fund I, sized at approximately $23 million (R380 million).
Kgosi Monametsi [pictured] is managing director and head of private equity at LACP.
Headquartered in Durban, Kelpack provides provide contract manufacturing and food packing services to corporate clients across south Africa.
The company primarily provides services to clients operating in the fast-moving consumer goods (FMCG) sector.
Kelpack Manufacturing provides its services through its South Africa -based subsidiaries which include Westpack Contract Packers and Nhlayisa Nutritional Solutions.
Created in 1996 the company is headed by chief executive officer Garth Jones and employs approximately 46 people as of 2022.
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| Deal Card | |
| Company Name | Kelpack Manufacturing |
| Sector | Industrial |
| Sub Sector | Manufacturing |
| Revenue | Bespoke request |
| Country (Headquarters) | South Africa |
| City (Headquarters) | Durban |
| Employees | c46 (2022) |
| Founder(s) | Bespoke request |
| CEO/MD | Garth Jones, CEO (Kelpak Manufacturing) |
| Investors in Deal | LACP |
| Investor Amounts | LACP (n/d) |
| Debt investors in Deal | Bespoke request |
| Individual Investors | Bespoke request |
| Other Investors | Bespoke request |
| Investing Fund(s) | Bespoke request |
| Related News Stories | 2010-2022 |
| Previous Investors | Bespoke request |
| Deal Class | Small-Cap |
| Deal Size | Bespoke request |
| Deal Stage | Expansion |
| Deal Structure | Buyout |
| Year Founded | 1996 |
| Current Product Lines | Provides its services through its South Africa -based subsidiaries which include Westpack Contract Packers and Nhlayisa Nutritional Solutions. |
| Customer Profile | Corporates |
| Client Names | Bespoke request |
| People in Deal | Kgosi Monametsi, Managing Director and Head of Private Equity (LACP) |
| Other people in deal | Garth Jones, CEO (Kelpak Manufacturing) |
| Reasons for Investment | Bespoke request |
| Expansion Plans | Bespoke request |
| Advisors | Bespoke request |
| Bonds Issued | Bespoke request |
| Notes | Bespoke request |
Source: Deal Book Africa
