South Africa: Vantage Capital exits Dynamic Bedding
Vantage Capital, Africa’s largest mezzanine debt fund manager, announced that it has fully exited its investment in Dynamic Bedding, a South African specialist bed manufacturer and retailer. The company has been acquired by Vuna Partners, a private equity fund manager, together with senior management.
Founded in 1994, the company manufactures a wide range of bed bases and mattresses from its facility in Krugersdorp just outside Johannesburg, and distributes its products to a nationwide network of 106 retail stores around Southern Africa operating under The Bed Shop brand.
Vantage invested in 2014 and became the controlling shareholder as it led the business through an operational restructuring that included strengthening its senior management team, a re-engineering of its manufacturing facilities as well as a comprehensive revamp of its retail offering and marketing strategy.
David Kornik, partner at Vantage Capital who served as chairman of Dynamic Bedding noted, “it has been a rewarding journey working closely with the senior management team to unlock the potential of the business. Dynamic Bedding has always set itself apart from the competition with its affordable, high-quality product range and its nationwide network of proprietary retail stores. It was customer engagement that needed improvement, and this has now been achieved through the enhanced look-and-feel of its retail stores, improved store management, modernised branding and re-invigorated marketing drive. The business is now on a strong growth trajectory and is looking to continue opening more stores to fulfil ever-growing demand for its products.”
Jasothan Naidu, managing director of Dynamic Bedding said, “Vantage has provided valuable guidance and support as we’ve worked closely together in formulating and implementing the strategic plan for the business. It’s been a productive collaboration and we’re proud of what we have achieved together so far – but this is also just the start. We believe that huge potential remains and we look forward to working alongside Vuna Partners in the next chapter.”