SELECT DEALS AND TRANSACTIONS
BSM has established a significant track record in corporate advisory services.
The following provide a summary of select assignments undertaken by members of the BSM team, which have been sorted by their service offering type.
MERGERS, ACQUISITIONS AND DISPOSALS
CONSTRUCTION
Group Five Coastal businesses – disposal to Uniq Holdings
Stefanutti Stocks – disposal of various non-core businesses
Tractionel - CIG business rescue and disposal
CONCO – business rescue and wind down
Consolidated Power Projects Energy Solutions
– disposal to a private buyer
Al Tayer Stocks UAE
– disposal to a private buyer
RETAIL
Massmart – acquisition of Game Stores and CAN
Wooltru – unbundling and listing of Massmart
Wooltru – unbundling and listing of Truworths
Wooltru – unbundling and listing of Woolworths
Massmart – disposal of Affinity Logic to Datatec
Wal-Mart – acquisition of Massmart in South Africa
Woolworths – acquisition of Witchery Australia
Furniture City – sale of business
Beares – sale of business to Lewis Group
Dial-a-Bed – sale of business to Coricraft
Geen & Richards - sale of business
Ellerines – sale of business
Ellerines Rest of Africa – sale of business
Wetherlys – sale of business
AGRICULTURE
British Sugar – acquisition of Illovo Sugar
Louis Dreyfus, agri-trader – acquisition of Progress Milling
Cape Orchard Company – sale of various businesses and properties
PROPERTY
Growthpoint – acquisition of Lyons property portfolio
Liberty International – unbundling and listing of Capital and Counties
Texton – acquisition of Greenstone Mall
Texton – acquisition of UK portfolio
SA Corporate – acquisition of Afhco Holdings
SA Corporate – acquisition of Zambian portfolio
Transcend – R1.2bn portfolio acquisition
Group Five Properties – disposal to confidential consortium
Stefanutti Stocks - restructuring, disposal of various non-core properties held in portfolio
Tongaat Hulett, property and agri-processing group – capital raising, restructuring and sale of various businesses
GroupFive properties – disposal to a privatebuyer
Capital Place (Ghana) – disposal
MINING
MCC Indonesia – disposal of shares to Buildmax
MCC Tharisa – disposal of business to Tharisa
MCC Mogalakwena – disposal of business to Concor Mining
MCC Aganang – disposal of business to Buildmax
MCC Training Centre – disposal of business to Buildmax
MCC Botswana – disposal of assets
MCC PPM – disposal of assets
Sky Sands – disposal process
Merafe – various processes
Consolidated Building Materials - disposal to a management consortium
FINANCIAL SERVICES
Brait, investment holdings – merger of Capital Alliance Bank and Capital Partners, reversal of these assets into Tolux SA and relisting of merged businesses on the Johannesburg, Luxembourg and London Stock Exchangesd
African Harvest – delistingd
ABSA Bank – takeover by Barclays Bank Plcd
Bond Exchange of South Africa – demutualisation and M&A strategyd
Prefsure, insurance – sale of sharesd
Relyant Insurance Company, insurance – sale of sharesd
Relyant Life Assurance, insurance – sale of shares
ABSA Bank – takeover by Barclays Bank Plcd
Bond Exchange of South Africa – demutualisation and M&A strategyd
Prefsure, insurance – sale of sharesd
Relyant Insurance Company, insurance – sale of sharesd
Relyant Life Assurance, insurance – sale of shares
Prefsure, insurance – sale of sharesd
Relyant Insurance Company, insurance – sale of sharesd
Relyant Life Assurance, insurance – sale of shares
Relyant Life Assurance, insurance – sale of shares
TECHNOLOGY
Convergenet – sale of non-core assets
Vox – disposal process
Pinnacle Holdings – acquisition of Datacentrix
Altron – acquisition of Altech
BCX – takeover by Telkom
Altron and Altech – East Africa sale process
Autotrader, retail tech – disposal process
Discover Digital – disposal process
OTHER
Ukhamba, logistics – acquisition of minority stake in Imperial Logistics
British Sugar – acquisition of Illovo
Adcorp, education – acquisition of LSA Australia
Adcorp, education – acquisition of Paxus Australia
Sun International, gaming – sale of interest in various businesses
Greendoor Logistics / Cargo2Congo, logistics – sale of interest to the Carlyle Group
AES (oil and gas) – disposal
AES – disposal to a privatebuyer
LesediNuclear Services – disposal
Sugar
Steinmüller - capital raising, disposal process and sale of shares
INDUSTRIALS
Jasco, manufacturing – restructuring and capital raising
enX Group, industrials – acquisition of Zestcor
Everite, manufacturing – disposal to confidential consortium
Conlog – disposal
Swartland - acquisition by Lonsa Everite and Legacy Africa Capital Partners
HEALTHCARE
Aviz – disposal to private equity fund
RH Bophelo – various acquisitions, JSE processes and due diligences since listing
INFRASTRUCTURE
Intertoll Africa – disposal to the Mabentu Consortium
Intertoll Europe – disposal to consortium
GAIA – internalisation of Management Company
CPM – disposal
CIGenCo – CIG business rescue and disposal to private buyer
RESTRUCTURING SERVICES
select deals (2015 - 2017)
Elgin Engineering (South African based heavy engineering company) – full restructuring of entire business
Progress Milling (South African based maize milling business) – advice in relation to the restructuring of the business post acquisition thereof
Basil Read (JSE listed construction company) – restructuring of various elements of Basil Read
eXtract Group (African contract mining company) – full restructuring of entire business
eXtract Group – restructuring of external debt of R1bn
eXtract Group – debt for equity swap of R1.9bn
select deals (2018 onwards)
Mintails Mining (South African based mining business) – business rescue and general assistance with restructuring
Gardenshop (South African based retailer) – on-going restructuring of operations
Purple Group (South African financial services company) – corporate restructuring and capital raising
Denel – corporate restructuring and independent business review
Cape Orchard Company (Southern African based grape farms) – full restructuring of entire business
Tongaat Hulett Limited - corporate restructuring (milling and property businesses)
Consolidated Infrastructure Group Limited and CONCO - corporate restructuring and business rescue
Group Five – corporate restructuring and business rescue
Stefanutti Stocks - corporate restructuring
GAIA Infrastructure Capital / Mahube - general strategic advice
STRATEGIC ADVICE
select deals (2015 - 2017)
Ornua (European based diary company) – acquisition strategy
MLP (South African based diversified holding company) – strategic advice in relation to investments
Wild Rose (South African based diversified investment company) – strategic advice in relation to disposal of certain assets
MN Attorneys (South African based law firm) – strategic advice in relation to legal case and the valuation thereof
Koogan Plastics (South Africa based plastics and packaging company) – strategic advice in relation to disposal process
Torre Industries (JSE listed industrial holding company) – strategic advice in relation to acquisition strategy
ZAR X (South African based stock exchange) – strategic advice in relation to capital raising process and strategy
South Ocean Holdings (JSE listed industrial holding company) – strategic advice
Edge Evolve (African based ICT company) – strategic advice
Metalsa (Global automotive manufacturer) – strategic advice in relation to acquisition strategy in Africa
Advance Cash and Carry (South Africa based cash and carry business) – strategic advice in relation to disposal process
select deals (2018 onwards)
Bunengi Group – general strategic advice
PG Glass – general strategic advice
GAIA Infrastructure Capital / Mahube – general strategic advice
IEC (Australia based listed mining company) – strategic advice in relation to African assets
Botswana Public Officers Pension Fund (BPOPF) – strategic advice regarding specific confidential matter in the retirement structuring space
GAIA Infrastructure Capital / Mahube – general strategic advice
Botswana PublicOfficers Pension Fund (BPOPF) – general strategic advice
CAPITAL RAISING + ADVISORY SERVICES
select deals (2014 - 2017)
Tharisa – IPO
JD Group – rights offer
Accelerate Property Fund – IPO
Middelvlei Gold Mine - capital raising process
Elgin Engineering – capital raising process
Powerhouse Africa - capital raising process
SCS Aerospace - capital raising process
RH Bophelo (JSE listed) (South African based healthcare company) – IPO
Basil Read (JSE listed construction company) – capital raising from the Industrial Development Corporation
Discover Digital – capital raising from Thebe Private Equity
EduSciMat – capital raising process
Ivy Private Equity – ongoing capital raising process
select deals (2018 onwards)
Mintails Mining – capital raising process
Safari Investments – capital raising from SA Corporate Real Estate Limited
Purple Group (JSE listed) – capital raising of convertible instrument
Denel (SOE) – capital raising of working capital prior to National Treasury recapitalisation
GAIA Infrustructure Capital / Mahube (JSE-listed infrastructure investment holding company) – capital raising process and Manco Internalisation
Cresta Marakanelo – capital raising services
Bauba Resources (JSE listed) – capital raising investor presentation preparation
Transcend Residential Property Fund (South African REIT) – capital raising process and portfolio acquisition
Lancaster Group – strategic advisory
Janic Capital – strategic advisory
SA Corporate Real Estate – capital raise and strategic advisory
Dipula Income Fund – capital raise and strategic advisory
InternationalHousing Solutions (IHS) – capital raise and strategic advisory
Taboo Investments – strategic advisory
FINANCIAL DUE DILIGENCES AND INDEPENDENT REVIEWS
HEALTHCARE + PHARMACEUTICALS
Avicenna
Healing Hills
Life Piet Retief Hospital
Medicare Private Hospital
Aviz Laboratories
Peppina
Africa Assist
African Healthcare
Bell Street Hospital
GENRIC Insurance Company
Louis Pasteur
RMC
Spescare
Vryburg Private Hospital
Sakhiwo
Botshilu
Health Worx
HealthMed
Rand Hospital
RH Matjhabeng
Avicenna
Healing Hills
Medicare Private Hospital
Louis Pasteur
Sakhiwo Infrastructure Solutions
Kiaat Hospital
Health Worx
HealthMed
Rand Hospital
OTHER
Dusty Moon Investments
Maneli Pets
Public Investment Corporation
Real People Home Finance
Denel SOC Ltd
Penflex, Alplas Plastics
VALUATIONS
CONSTRUCTION
Basil Read Construction
Al Tayer Stocks UAE
StefStocks Mining Services division
StefStocks Mechanical and Electrical
StefStocks Geotechnical division
StefStocks Civils division
StefStocks Coastal division
StefStocks Marine division
StefStocks Mozambique business
StefStocks Zambia business
StefStocks eSwatini business
StefStocks Botswana business
StefStocks Building division
Consolidated Infrastructure Group
Tractionel
Conco
RETAIL
Dial-a-Bed
Geen & Richards Furniture City
Ellerines
Beares
Barcelos
Advance Cash & Carry
DMF
GardenShop
AGRICULTURE
Progress Milling
Cape Orchard Company
Meze Foods
Maneli
Tongaat Hulett
PROPERTY
SA Corporate Real Estate
Dipula Income Fund
International Housing Solutions
Transcend Residential Property Fund
Accelerate Property Fund
RMB Corvest
Fourways Mall Management Company
MINING
Mintails
Basil Read Mining
Extract Group
MCC Contracts
Holfontein
Merafe
Moolmans Contract Mining
Sky Sands
Consolidated Building Materials
FINANCIAL SERVICES
Relyant Insurance Company, Insurance
Relyant Life Assurance, Insurance
Prefsure, Insurance
African Unity Group
Purple Group Limited
Easy Equities
GT247
Salt
Ubank
All Weather Capital
WesMart, Insurance
TECHNOLOGY
SCS Aerospace
ICT-Works
Discover Digital
Edge Evolve
Valenture Institute
OTHER
Comprac, education
First National Media Investment Holdings, media
Greendoor Logistics, logistics
EduSciMat, education
Auditor General of South Africa – review of various valuations of SOE portfolio companies
Relativ Media, media
Penflex, Alplas Plastics
AES
INDUSTRIALS
Elgin Engineering
PG Glass
enX Group Limited
Grindrod Locomotives
KT Wash
Zestcor Eleven
IEC Holden
Koogan Plastics
Everite
Masslift
Afrisam
Sheet-Rite
Conlog
Tshwarisano(SasolOil)
HEALTHCARE
Avicenna
Healing Hills
Life Piet Retief Hospital
Medicare Private Hospital
Africa Assist
African Healthcare
Bell Street Hospital
GENRIC Insurance Company
Louis Pasteur
RMC
Spescare
Aviz Laboratories
Peppina
Vryburg Private Hospital
Sakhiwo
Botshilu
Health Worx
HealthMed
Rand Hospital
RH Matjhabeng
INFRASTRUCTURE
GAIA Infrastructure Capital / Mahube
Intertoll Europe
Intertoll Africa
CPM
CIGenCo
Vestas
