Your freight logistics and shipping service provider

Successful Private Equity Transaction for Grindrod Financial Services

25 January 2017

Grindrod Financial Services (“GFS”), part of JSE listed Grindrod Limited, is proud to announce that it has subscribed for a meaningful minority stake in Lenmed Group (“Lenmed”).

Lenmed, founded in 1984, is an established South African private hospital group which provides private patient healthcare in Southern Africa through the management and ownership of hospitals and other related health services. Lenmed, a level 2 B-BBEE company, is the largest unlisted private healthcare provider in South Africa.

The opportunity to partner with Lenmed arose through a strong relationship built between GFS and Lenmed which has been cultivated over an eight (8) year period. This partnership will contribute to Lenmed embarking on an acquisitive growth strategy as they expand their foothold in the Southern African market. GFS is particularly excited about healthcare in Southern Africa as the private healthcare industry in South Africa has historically provided strong returns for investors even through difficult economic times.

GFS through its private equity arm, seeks to leverage its understanding of the South African and sub-Saharan African markets to target small- to mid-sized companies best positioned to benefit from the region’s unique growth dynamics. GFS targets primarily minority equity positions and selected expansion capital investments in companies with strong growth potential. GFS’s diverse and experienced investment team is able to leverage off the corporate finance advisory, capital markets and investment banking divisions to advise and structure deals tailored to the specific needs of each investment opportunity.

“This is a significant private equity transaction for us and we are delighted with the successful outcome thereof.” - Andrew Blades, Executive Director of Grindrod Financial Services.

“We are very excited about this investment and look forward to partnering with Lenmed on the ongoing growth and future success of the business, and in particular the opportunity to participate in the ongoing expansion of healthcare in Southern Africa.”- Aris Malliaros, Head of Grindrod Private Equity. “We look forward to partnering with GFS with the shared goal of growing the healthcare industry in Southern Africa whilst uplifting and unlocking value for our stakeholders.” – Prakash Devchand CEO of Lenmed Group.

Back to news


Archive

2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007

Share this with your friends