Inside Capital merges Zambian brick manufacturer with Zimbabwean entity
Inside Capital Partners has announced the merger of its portfolio company Kalulushi Clay Bricks (KCB) with Beta Holdings Limited to create a regional building materials champion.
KCB is Zambia’s oldest and largest clay brick manufacturing facility. Initially a minority investor, Inside Capital Partners took full control of KCB in 2018, transforming the company into a well-structured business positioned for growth. KCB services the construction market in Zambia and the DRC region.
Beta is Zimbabwe’s largest building materials supplier with operations in clay bricks, concrete products and aggregates.
The combination of KCB and Beta’s assets and expertise will give birth to a merged business well positioned to grow exponentially through the synergies created.
Rushil Patel, interim chief executive officer at KCB and principal at Inside Capital Partners said: “We are very excited to work with the Beta Holdings team to materialise the joint vision of creating a diversified regional building materials player. KCB that we have grown to be the leader of the face brick market in Zambia, will now be able to tap into Beta’s stock brick production expertise, a new complementary product which we feel is very relevant for our markets. By increasing our geographical reach, we are also able to optimise the significant production capacity of the KCB assets and enhance the opportunities for our staff, customers and suppliers, including the wider socio-economic environment.”
Jerome Lagesse, managing director of Inside Capital Partners said: “Inside has a mission of actively supporting local players with a relevant business model and help them become regional champions. From the early days of that investment, the strong potential of KCB was identified by our team and – despite a complex economic environment – we have worked hard to develop that enterprise and find the right partner to bring it to the next level. We feel that Beta’s team, under the leadership of Godfrey, is the perfect match.”
Godfrey Manambara, group chief executive officer at Beta said: “This merger will strengthen Beta’s market leadership position in the infrastructural inputs market in Southern Africa through a combination of KCB’s energy-efficient manufacturing expertise and Beta’s innovative and quality-centric production. Our combined brands and businesses mean increased scale and relevance in our respective markets and the region, we are thrilled about the unique opportunities this merger will create for our customers, employees and business partners.”
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