Growth Capital Partners has acquired 100% of Nerdworks and Turrito for R24.1-million from Sebata Holdings. Nerdworks, a company that trades as Dial-a-Nerd, provides on-site and off-site fully managed IT services and solutions to consumers, small businesses, professional practices and educational institutions. Turrito is an aggregator of open access to all connectivity networks, hosting facilities, cloud solutions and related telecommunication services from a single source provider. Turrito provides its services to network providers in South Africa and Africa. Nerdworks and Turrito are intended to provide a value-adding long-term return for Growth Capital Partners.
Growth Capital Partners is a South African boutique private equity investor that focuses on small to medium investment opportunities. This typically comprises companies with an enterprise value of up to R150-million and adopts a long-term partnership approach with an existing or new management team that has operational control. The private equity firm has invested in companies such as Bustruck, Capdan, Ironmonergy Warehouse Africa and Baypac among others.