South Africa: Admaius Capital Partners in mining supplier deal; Ethos spin-off exits
Admaius has announced the acquisition of The Particle Group.
Admaius Capital Partners, an Africa focused private equity investor, has acquired a stake in The Particle Group (TPG), a supplier to the mining industry.
TPG is headquartered in Johannesburg, South Africa but has operations globally. TPG manufactures and sells specialist chemical products called certified reference materials that are used in mineral laboratories to ensure accuracy and precision in all analytical data required for mining processes.
Admaius is investing alongside TPG’s senior management, led by chief executive Raksha Naidoo, via a transaction that will see the company leave parent Synerlytic Group Holdings. Synerlytic is a portfolio company in the mid-market fund managed by Infinite Partners.
Infinite Partners is a newly established African private equity fund manager. Established in 2022 following its spin out from Ethos Private Equity, Infinite focuses on mid-market, growth investments.
Marlon Chigwende, the managing partner of Admaius, said: “The Particle Group is an exceptionally strong business with first-rate management and a clear strategy for continued growth. Admaius has got to know Raksha and her team very well and we are confident that Admaius and the TPG management team will form a successful partnership. Raksha possesses the deep industry knowledge, passion for the business, and drive that are key for any successful business leader.”
Edward Pitsi, co-founder and CEO of Infinite Partners, said: “TPG is a great business with huge opportunities for growth and development ahead – I look forward to seeing what Raksha and her team achieve. We are proud of the advancements the business made under our stewardship.”
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