Global alternative asset manager The Carlyle Group (NASDAQ: CG) and
Investec Asset Management, a global investment manager with African
roots, today announced that they have agreed to invest in J&J Africa, a
pan-African logistics company specialising in the road transportation of
general cargo along the Beira corridor, one of Southern Africa’s key
trade routes. Financial terms were not disclosed. The transaction is
expected to close in the first quarter of 2014.
Marlon Chigwende, Managing Director and Co-Head of the Carlyle
Sub-Saharan Africa Fund, said: “Carlyle brings strong expertise working
with companies in the transportation sector, along with deep experience
in emerging markets, including Africa. We have a particularly strong
track record in partnering with private, family and entrepreneurial
firms and helping them expand to compete on a world stage. By building
on J&J’s current service, as well as adding new offerings, we hope to
better serve current and future customers in this fast-growing region.
Further, J&J is well positioned to benefit from the fast growth across
Southern Africa, particularly in Mozambique and Zambia.”
William Alexander, an Investment Principal in Investec Asset
Management’s Private Equity team, commented: “Over the past decade, J&J
Africa has built up the pre-eminent transport fleet and logistics
infrastructure in the region. We look forward to working with J&J’s
highly professional management team to realise our plans to grow the
business further in the coming years.”
Founded in 1995, J&J has more than 18 years’ experience in cross-border
transport within Africa. From their headquarters in Mozambique, the
company has established itself as a reliable and efficient provider of
transport and logistics services to a diversified, international
customer base. With 800 trucks and extensive storage infrastructure, J&J
is well-placed to serve Southern Africa, home to some of the fastest
growing economies in the world.
The investment, which was led by Carlyle, is the second investment by
Carlyle’s Sub-Saharan Africa Fund, which invests in companies that
support the emerging middle class across the Sub-Saharan Africa region.
In November 2012, the Fund made its first investment in Export Trading
Group, a global agricultural supply chain manager based in Tanzania. The
investment is the seventh by Investec Asset Management’s Africa Frontier
Private Equity Fund, which invests in established companies in Africa
with the objective of supporting the creation of local or regional
champions in their respective industries.
About J&J Africa
J&J is a transporter and logistics provider specializing in reliable and
efficient international transportation along the Beira Corridor. J&J
also offers state of the art warehouse facilities for the handling of
bulk and container cargo. J&J is able to provide high quality logistics
solutions on the Beira corridor. Through experience, development and
innovation J&J strives to deliver a superior service for its clients’
needs, which include storage, transportation and the handling of bulk,
containerised, project and out of gauge cargo. For more information
visit: www.jjafrica.com
About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager
with $185 billion of assets under management across 122 funds and 81
fund of funds vehicles as of September 30, 2013. Carlyle's purpose is to
invest wisely and create value on behalf of its investors, many of whom
are public pensions. Carlyle invests across four segments – Corporate
Private Equity, Real Assets, Global Market Strategies and Global
Solutions – in Africa, Asia, Australia, Europe, the Middle East, North
America and South America. Carlyle has expertise in various industries,
including: aerospace, defense & government services, consumer & retail,
energy, financial services, healthcare, industrial, technology &
business services, telecommunications & media and transportation. The
Carlyle Group employs more than 1,400 people in 34 offices across six
continents.
Web: www.carlyle.com
Videos:
www.youtube.com/onecarlyle
Tweets:
www.twitter.com/onecarlyle
Podcasts:
www.carlyle.com/about-carlyle/market-commentary
About the Carlyle Sub-Sahara Africa (SSA) Team
Established in March 2012, the Carlyle SSA team makes buyout and growth
capital investments in private and public companies from offices in
Johannesburg, SA and Lagos, Nigeria. The Carlyle SSA team focuses on
transactions where it has a distinctive competitive advantage and can
create tangible value for companies in which it invests, through
industry specialization, deployment of human capital and access to
Carlyle’s global network. Carlyle’s target industries include consumer
goods, logistics, financial services, agribusiness, and energy, and the
African-based team has experience of working in 29 African countries.
About Investec Asset Management
Investec Asset Management, an independently managed subsidiary of
Investec Group, is a specialist investment manager providing a premier
range of investment products to institutional and individual investors.
Established in 1991, the firm has been built from start-up into an
international business managing approximately £69.8bn on behalf of third
party clients. The business has grown organically from domestic roots in
Southern Africa to a position where we serve a growing international
client base from the Americas, the UK, Continental Europe, Asia, the
Middle East, Australia and Africa. Africa remains of critical importance
to us, not only due to its enormous potential, but because it is our
home market. We are uniquely positioned to offer investors access to a
broad range of strategies – from public equity through to credit,
sovereign debt and private equity.
About the Investec Asset Management Africa Private Equity Team
Investec Asset Management has over $40 billion invested in Africa across
all asset classes. The Investec Africa Frontier Private Equity Fund
focuses on growth capital and buyout investments in established
mid-market companies in Africa, with the objective of supporting the
creation of local or regional champions in their respective industries.
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