Global Capital, Mazor Group in partnership after share buy-in deal

JSE-listed steel and aluminium products supplier Mazor Group yesterday announced a R27m share buy-in by private equity specialist Global Capital.

Global Capital would acquire 12,3-million Mazor shares, or 10% of the group, and would not have a dilutionary effect on ordinary shareholders, Mazor said.

Mazor CEO Ronnie Mazor said the investment by Global Capital would further enhance the group's diversification and acquisition strategy by introducing a strategic shareholder that had a proven track record of partnering growth companies.

"A hands-on approach by Global Capital to their existing investments means they proactively contribute considerable skill and experience, which will benefit Mazor as we continue to roll out our diversification strategy," Mazor said.

Global Capital CEO Frank Boner said the private equity firm decided to buy into Mazor because of the group's future growth prospects. "We like the group's strong cash flow and growth prospects even in the current macro-economic environment and we see this as a great opportunity for long-term growth."

Read more

<<First <Back | 1 | 2 | 3 | 4 | Next> Last>>