South Africa: RMB Corvest backs Process Automation
The transaction follows the exit of Evolve Capital Partners.
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RMB Corvest and Shalamuka Capital have acquired a minority stake in South Africa-based Process Automation, partnering with CEO Larry Smith, who retains his majority shareholding.
The transaction follows the exit of Evolve Capital Partners and supports Process Automation’s next phase of measured growth across Africa and selected international markets.
Process Automation is an original equipment manufacturer (OEM) that designs, engineers, manufactures and supports high-precision measurement and control instrumentation solutions for the mining, mineral processing and bulk material handling sectors. Its portfolio includes conveyor belt scales, density gauges, weigh feeders, metal detectors, moisture measurement systems and specialised weighing and throughput feed systems.
The company operates from a manufacturing facility in Johannesburg, supported by a national branch network and established distribution and service partners across Africa and select global markets.
“Larry and his team have made significant strides expanding Process Automation’s reach through Africa and Latin America,” said Matsebe Thulare, executive at RMB Corvest. “A capital-light export model, combined with a multi-decade reputation for quality and accuracy, positions the business well for disciplined expansion.”
“Process Automation has grown by working closely with our customers to understand their measurement challenges and by designing customised solutions that deliver sustainable accuracy,” said Smith. “Our partnership-led approach has earned long-term trust from most of Africa’s largest mining groups and project houses. With the support of RMB Corvest and Shalamuka Capital, both established B-BBEE investors who share our commitment to building inclusive, locally anchored industrial capability, we look forward to strengthening and modernising our manufacturing capability, advancing our product portfolio, and extending our presence across Africa and beyond.”
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