Vantage, RMB Private Bank invest R135m in TrenStar | Vantage Capital
Summary
The funds will be applied to expansion and replacement capital and to introduce black empowerment ownership. TrenStar is a national returnable packaging group and is the largest provider of its kind in the automotive sector. TrenStar have experienced enormous growth and support over the past years.” The mezzanine funding package provided by Vantage Capital did not include a private equity sponsor. This “sponsorless” format allowed management and the black empowerment partner to acquire 100% ownership of the business. Colin Rezek, founding partner at Vantage Capital says “what excites us is the move by SA auto manufacturers, TrenStar’s largest clients, to increase local production content which is supported by the government’s Automotive Production and Development Programme.” Vantage Capital will partner with senior management to remain actively involved in company strategy.
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