South Africa: Infinite Partners exits to Bidvest
South Africa: Infinite Partners exits to Bidvest
Infinite Partners has announced the exit of Synerlytic, which housed WearCheck as its remaining operating entity.
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Infinite Partners, a South Africa-based private equity fund manager, has announced the exit of Synerlytic, which housed WearCheck as its remaining operating entity.
WearCheck is one of the leading condition monitoring specialists on the African continent, processing more than 800,000 samples per annum. While the company’s core business is the scientific analysis of used oil, fuel and other fluids, WearCheck also serves as a hub for many other predictive maintenance techniques. With 16 laboratories, WearCheck serves the mining, earthmoving, industrial, transport, shipping, aviation, and electrical industries through the scientific analysis of used oil, fuels, coolants, and greases.
Synerlytic has been acquired by Bidvest and will serve as the group’s spearhead into the broader testing, inspecting and certification sector.
Edward Pitsi, co-founder and CEO of Infinite Partners, said: “WearCheck is a great business providing mission critical services to key industries on the African continent and beyond. Neil and his team have done a stellar job in expanding the business from a service types and geography standpoint in addition to smartly integrating bolt on acquisitions. We are proud of what we achieved together and will remain a big supporter of the business and the leadership team steering it towards its next chapter.”
Akona Matsau, CEO of Bidvest Services South Africa, said: “We are thrilled to welcome the WearCheck team to our family. Neil and team have built an exceptional business, and we look forward to working with them to build on this solid foundation. At Bidvest, we are always looking for opportunities to invest in businesses that are leaders in their sectors with strong management teams. WearCheck ticks all these boxes and further provides an opportunity for the division to expand its service offering and create a new service vertical. We are excited about the growth opportunities that this new vertical presents for the division. Reliability and compliance testing services are important support functions for industry with AI set to further enhance the value that industries can derive from these services. The water testing laboratory also creates an opportunity to provide services that ensure water quality in the country.”
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