Old Mutual Private Equity exits to Sanlam
Old Mutual Private Equity has agreed to sell its stake in Medhold, a supplier of medical devices in Southern Africa.
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Old Mutual Private Equity (OMPE) has agreed to sell its stake in Medhold, a supplier of medical devices in Southern Africa, to Sanlam Private Equity. The investment was held through OMPE Fund IV.
The transaction is subject to customary regulatory approvals, with completion expected in the fourth quarter of 2025.
Since OMPE’s initial investment in Medhold in 2018, the company’s earnings have grown by 2.6 times. Medhold’s product portfolio also significantly expanded under OMPE’s stewardship, particularly through strategic bolt-on acquisitions.
“Medhold has been an exemplary investment, showcasing our ability to identify leading businesses that can act as cornerstone assets to buy and build upon, to effect growth within essential industries in South Africa, whilst partnering with strong management teams,” said Chumani Kula, co-head of Old Mutual Private Equity.
“Our goal was always to significantly scale Medhold’s impressive customer offering and position the business as the pre-eminent medical devices player across Southern Africa. We enjoyed a strong partnership with a very high-quality management team and we are pleased to leave the company in a formidable position, primed for continued growth. We wish the CEO Matthew Stephens and the broader management team continued success in this next chapter, in partnership with Sanlam Private Equity.”
Matthew Stephens, CEO of Medhold, commented: “We have had the privilege of partnering with the OMPE team since July 2018. Their exceptional ability to quickly assimilate and evaluate strategic information in a dynamic, fast-paced industry has been instrumental to our sustained growth. Looking forward, we welcome the opportunity to work with the equally talented team from Sanlam Private Equity.”
Paul Moeketsi, managing partner at Sanlam Private Equity, added: “This partnership supports a healthier future for all South Africans. Medhold’s legacy of innovation aligns with our strategy to back market-leading businesses with strong growth potential. With the urgent need for healthcare investment in the country, we are excited to partner with Medhold’s exceptional team to expand access to world-class medical technology across critical sectors of the economy.”
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