SKYNET South Africa, one of South Africa’s biggest express parcel and courier businesses, has announced that its operations in South Africa, Namibia, Mozambique, the UK, Belgium, and Germany had been acquired by its South African management team together with its new stakeholders, RMB Ventures (RMBV), Bopa Moruo Private Equity and New GX Capital Holdings.
The news comes hot of the heals of SkyNet South Africa's controlling stake being acquired by the investment companies getting the green light last month from the Competition Tribunal.
Tommy Erasmus, the chief executive of SkyNet South Africa, said: “In an economy currently characterised by downscaling and international acquisitions of South African companies, this is an exciting chapter in the South African courier industry.
“This will be a South African run company expanding its global footprint and control as a first phase of a multiple acquisition strategy that will rapidly see further expansion into key strategic areas across the globe.”
SkyNet operates in more than 170 countries.
The strong growth of e-commerce throughout the Covid-19 pandemic was the primary driver for SkyNet’s global acquisition strategy, the firm said.
Global markets were becoming increasingly accessible to even small brands.
BUSINESS REPORT ONLINE