Vuna Partners, a sector-agnostic mid-market private equity firm which recently hit another milestone for its maiden fund, has sealed its second transaction with the acquisition of SA Steelpack Solutions.
“The acquisition represents significant growth prospects for Steelpack in terms of enhanced empowerment credentials, industry certification and increased production capacity,” said Siya Nhlumayo, CEO of Vuna Partners.
The fund and Steelpack management acquired 100% of Steelpack from the incumbent shareholders, who have also served in an executive management capacity since the company’s establishment in 2014.
Vuna’s first deal, struck last year, was also a control transaction where it acquired an 80% stake in fourth-party logistics company 4PL Group.
The new deal comes soon after the firm made a second close of its first fund, allowing it to garner around three-fourths of its target corpus within a year of launch.