Published: October 20, 2011
Private equity firm backs US$434mn MBO at South African tracking company.
Private equity firm Actis has led a consortium in the US$434mn management buy-out of Tracker, South Africa’s largest vehicle tracking company.
The transaction sees South African investment firm Remgro sell its interest in Tracker to Actis while FirstRand restructures its own investment in the business to include subsidiary RMB. The Mineworkers Investment Company has also increased its stake in Tracker.
Tracker has recovered some 55,000 vehicles and helped to achieve more than 10,000 arrests since its establishment in 1996. The company is used by the South African Police Service to locate stolen vehicles.