Makalani Management Company

Makalani Management Company (Pty) Ltd, founded in 2005 and headquartered in Johannesburg, South Africa, is a private equity firm specializing in mezzanine financing. The firm manages a significant mezzanine asset portfolio and focuses on deal origination, debt structuring, and portfolio management. Makalani primarily invests in Black Economic Empowerment transactions, targeting large corporate projects, transformational infrastructure, affordable housing, small, medium, and micro-enterprise development, and emerging agriculture, in alignment with the Financial Sector Charter. With a minimum investment threshold of R25 million, the firm predominantly utilizes mezzanine instruments and subordinated debt, although it can also engage in other financial instruments. Currently, Makalani is in the process of raising capital for a second mezzanine fund, aiming to enhance its investment capacity. The firm has established a presence in multiple locations, including an office in Windhoek, Namibia, and London, United Kingdom, and is focused on generating returns for its investors through strategic investment exits within a defined timeframe.

Hemal Naran

Partner

25 past transactions

Tsogo Sun Hotels

Private Equity Round in 2008
Tsogo Sun Hotels owns, leases, and manages a portfolio of over 100 hotels across South Africa, operating under brands such as Southern Sun, Garden Court, StayEasy, SUN1, and hi Hotels. Established in 1969, the company offers luxurious accommodations with panoramic views in prime locations like Cape Town's V&A Waterfront.

Midas Group

Private Equity Round in 2008
Midas sells branded, guaranteed, quality parts at competitive prices to its nationwide preferred customer base through a national distribution channel. These products are distributed to more than 300 franchisees and other independent spares shops, workshops, fleets, chain stores and engineering shops.

Servest Group

Private Equity Round in 2008
Servest Group is a multi-service facilities management organization operating across Africa. It specializes in providing integrated facilities solutions that encompass various sectors, including energy, security, catering, waste management, and concierge services. The company offers a range of services such as ground maintenance, interior landscaping, washroom management, and pest control. By delivering these services, Servest Group helps clients streamline their operations, create an efficient workforce, and reduce their environmental impact.

Lereko

Private Equity Round in 2008
Lereko Investments (Pty) Ltd., established in July 2004, operates as a significant black-owned and black-led investment house in South Africa. The company aims to play a transformative role in the local economy and its neighboring regions in Africa. Lereko is committed to evolving into a relevant investment institution that extends beyond the original vision of its founders. The firm prioritizes fairness, ethics, and the creation of value in all its business dealings, positioning itself as a trustworthy partner in various investment endeavors.

Tourvest

Private Equity Round in 2008
Founded in 1997, Tourvest is a global tourism group headquartered in South Africa. It offers a wide range of travel services, including hotels, lodges, restaurants, retail shops, and foreign exchange bureaus under over 60 brands, employing more than 5,000 people worldwide.

WDB Group

Private Equity Round in 2008
WDB Investment Holdings Pty Ltd. is a private equity investment firm based in Gauteng, South Africa, established in 1996. It focuses on equity investments aimed at repatriating profits to support the WDB Group's social development initiatives. The company primarily invests in various sectors, including food and agriculture, real estate, media, technology, education, renewable energy, healthcare, and manufacturing. WDB Investment Holdings is particularly dedicated to empowering women, especially in rural areas, by facilitating their participation in microenterprises and providing business training and ownership opportunities. The firm typically invests in micro and small businesses, offering debt investments ranging from R0.05 million to R0.4 million. With a commitment to economic empowerment and social upliftment, WDB Investment Holdings actively promotes skills transfer and encourages women’s representation in decision-making roles within its portfolio companies. Through its integrated approach, the firm has a 25-year track record of implementing high-impact socio-economic programs that significantly improve the lives of marginalized communities.

Fuel (South Africa)

Funding Round in 2007
Fuel is a logistics services group whose core businesses are centred on the provision of customised solutions integrating e-commerce and IT with a logistics infrastructure.

Gold Reef Resorts Limited

Private Equity Round in 2007
Gold Reef Resorts Limited, a gaming and entertainment company, operates resorts and entertainment complexes.

Convergence Partners

Private Equity Round in 2007
Convergence Partners is an investment firm established in 2006, specializing in the technology and digital sectors across sub-Saharan Africa. The company identifies and develops private equity and infrastructure opportunities, primarily focusing on the telecom sector. By acting as value-adding partners, Convergence Partners aims to enhance the growth and development of its investments, contributing to the advancement of the technology landscape in the region.

Gautrain Management Agency

Private Equity Round in 2007
The Gautrain Management Agency (GMA) in an entity of the Gauteng Provincial Government (GPG).

Tongaat Hulett

Post in 2007
Tongaat Hulett Limited is an agriculture and agri-processing company operating primarily in Southern Africa, with additional activities in North America, Europe, the Middle East, and the Asia-Pacific region. The company specializes in the production and sale of refined sugar, glucose, and maize-based carbohydrate products, including sweeteners and animal feeds under various brands such as Huletts, Voermol, and Amryal. It sources raw materials from its owned land and private farmers, with a significant portion of its revenue generated from raw sugar sales, particularly in South Africa, Zimbabwe, and Mozambique. Tongaat Hulett also engages in land conversion and development, and it produces ethanol and renewable electricity from by-products of its manufacturing processes. Founded in 1875, the company is headquartered in Tongaat, South Africa.

Exxaro Resources

Private Equity Round in 2007
Exxaro Resources is a leading diversified resources company based in Pretoria, South Africa. It operates primarily in the coal sector, producing thermal, metallurgical, and semi-soft coking coal from its sites in the Waterberg and Mpumalanga regions. The company's operations are divided into segments, including Coal, Ferrous, TiO2 and Alkali Chemicals, Energy, and Others. Exxaro also engages in the production of iron ore and inorganic minerals, and it operates two wind farms to support its energy segment. The coal division is the primary revenue generator, with key operations such as Grootegeluk in Waterberg and Belfast and Leeuwpan in Mpumalanga. The company serves markets in South Africa, Europe, the United States, and Australia, reflecting its significant role in the global resources industry.

Emira Property Fund

Post in 2007
Emira is a diversified real estate investment company with a portfolio primarily consisting of South African assets across office, retail, industrial, and residential sectors. Listed on the JSE in 2003, Emira focuses on growing its property portfolio's quality and value through strategic acquisitions, disposals, refurbishments, and redevelopments to sustain distribution growth.

Shanduka

Private Equity Round in 2006
Shanduka Group is an investment holding company that focuses on a diverse portfolio of both listed and unlisted companies across various sectors. Its key holdings include resources, food and beverage, financial services, energy, telecommunications, property, and industrial sectors. The company emphasizes partnering with firms that demonstrate a history of profitable earnings and effective management teams willing to embrace transformation. Shanduka is committed to empowerment and transformation, as evidenced by its broad-based ownership structure, which includes trusts that invest in education and small business development. Through its investments, Shanduka aims to create sustainable value and foster economic growth in the communities it serves.

Servest Group

Private Equity Round in 2006
Servest Group is a multi-service facilities management organization operating across Africa. It specializes in providing integrated facilities solutions that encompass various sectors, including energy, security, catering, waste management, and concierge services. The company offers a range of services such as ground maintenance, interior landscaping, washroom management, and pest control. By delivering these services, Servest Group helps clients streamline their operations, create an efficient workforce, and reduce their environmental impact.

Emira Property Fund

Post in 2006
Emira is a diversified real estate investment company with a portfolio primarily consisting of South African assets across office, retail, industrial, and residential sectors. Listed on the JSE in 2003, Emira focuses on growing its property portfolio's quality and value through strategic acquisitions, disposals, refurbishments, and redevelopments to sustain distribution growth.

Sandown Motor Holdings

Private Equity Round in 2006
Sandown Motor Holdings, formerly known as Sandown Motors (Pty) Ltd, is an automotive company and a dealer network for commercial vehicles. The company was founded in 1982 and is headquartered in Bryanston, South Africa.

Exxaro Resources

Private Equity Round in 2006
Exxaro Resources is a leading diversified resources company based in Pretoria, South Africa. It operates primarily in the coal sector, producing thermal, metallurgical, and semi-soft coking coal from its sites in the Waterberg and Mpumalanga regions. The company's operations are divided into segments, including Coal, Ferrous, TiO2 and Alkali Chemicals, Energy, and Others. Exxaro also engages in the production of iron ore and inorganic minerals, and it operates two wind farms to support its energy segment. The coal division is the primary revenue generator, with key operations such as Grootegeluk in Waterberg and Belfast and Leeuwpan in Mpumalanga. The company serves markets in South Africa, Europe, the United States, and Australia, reflecting its significant role in the global resources industry.

Mvelaphanda Group

Private Equity Round in 2005
Mvelaphanda Group offers mining and marketing of platinum group metals; publishes national, regional, and community newspapers.

Life Healthcare

Private Equity Round in 2005
Life Healthcare is a prominent South African healthcare provider, offering world-class facilities and clinical excellence. The company's core values emphasize close collaboration with medical professionals to deliver exceptional care, focusing on patients' well-being and quality of life.

Nampak

Private Equity Round in 2005
Nampak Limited, established in 1968, is a South Africa-based packaging manufacturer with operations in Africa and Europe. The company specializes in the production and distribution of a wide array of packaging products, catering to diverse industries. Its portfolio includes metal packaging such as tinplate and aluminum beverage cans, food cans, and aerosol cans; glass packaging like returnable and non-returnable bottles; and paper packaging such as corrugated boxes, folding cartons, and labels. Nampak also offers tissue products. With a significant portion of its revenue generated from the metal segment, the company is headquartered in Sandton, South Africa.

FirstRand

Private Equity Round in 2005
FirstRand is a South African financial services group offering banking, insurance, and investment products to retail, commercial, corporate, and public sector clients across Africa. Its key subsidiaries include First National Bank (FNB), Rand Merchant Bank (RMB), WesBank, and Ashburton Investments.

Gold Fields

Post in 2005
Gold Fields Ltd is a prominent producer of gold, with significant reserves and resources located in South Africa, Ghana, Australia, and Peru. In addition to gold, the company also produces copper in Peru. It engages in both underground and surface mining operations, including sites such as St. Ives, Agnew, Granny Smith, South Deep, Damang, Tarkwa, and Cerro Corona. Gold Fields is involved in various related activities, encompassing exploration, extraction, processing, and smelting of gold, copper, and silver. The company's revenues primarily stem from the sale of the gold it produces, reflecting its focus on the mining sector and its commitment to resource development.

Metropolitan

Private Equity Round in 2005
Metropolitan, a division of MMI Holdings, is a financial services company providing long-term insurance solutions and health administration.

Mondi

Private Equity Round in 2005
Mondi is an international manufacturer and supplier of packaging and paper products, serving diverse industries worldwide. Established in 1967, the company offers a wide range of products including flexible packaging, bags, pouches, release liners, technical films, corrugated packaging, industrial bags, barrier coatings, specialty papers, containerboards, and office printing papers. Mondi's customer base spans across agriculture, automotive, construction, chemicals, food and beverages, pharmaceuticals, retail, shipping, and other industries.
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