Alterra Capital takes stake in Johannesburg-based Cobra Group
Cobra manufactures customised vehicles and heavy-duty hose reels for mining and emergency response sectors.
** For the best experience, download the free Africa Private Equity News app Android | iOS **
Alterra Capital Partners has invested in Cobra Group Holdings, joining the founder and chief executive in backing the company’s expansion in Africa and further afield.
Cobra, which operates through Cobra Projects, Cobra Fire and Cobra Tech, designs and manufactures customised mining support and firefighting vehicles in Africa, and is also a producer of hose reels.
Founded in Johannesburg in 1986, the company serves customers across Africa, Australia and the Middle East. Its operations focus on modifying original equipment manufacturers’ chassis cabs to build specialised vehicles for mining, firefighting and emergency response, such as service units, water bowsers and firefighting trucks. Cobra also develops heavy-duty hose reels and is regarded as a leading supplier of flow path technology.
Renschke Volschenk, partner at Alterra, stated: “We are excited to partner with the team at Cobra for the next phase of growth, building upon their historic success as a market leader in a niche, yet indispensable, industry. Cobra is an excellent business with strong fundamentals that really drives impact across the continent. This is the exactly the kind of high-growth, differentiated and resilient B2B business Alterra seeks to back.”
Donovin Cronning, founder of Cobra, commented: “Since our founding in 1986, we’ve built Cobra with a focus on engineering excellence, customer trust, and impact. Partnering with Alterra marks an exciting new chapter – one that allows us to accelerate growth, deepen our footprint across Africa and beyond, and continue delivering critical solutions that improve safety and productivity in some of the world’s toughest working environments.”
Commenting on the partnership, Lloyd Darby, CEO of Cobra said: “We’re thrilled to join forces with Alterra as we expand into new markets and scale our capabilities. Their experience in manufacturing and growth-oriented partnerships will help us unlock new value for our customers, while remaining true to our mission of delivering specialised, high-quality vehicles that support local industry, safety, and economic development.”
Want to know who is raising, investing, and exiting in Africa? Get Africa Private Equity News’ monthly Dealmaker’s Log – a database of reported investment deals, exits, and fundraising closes. Subscribe now