Sakhumnotho Group Holdings has acquired a 26% stake in the Refinex and SA Tank Terminals holding company. Refinex (formerly Energy Oil Oleochemicals) was established in 1983 and is a privately owned petrochemical company in South Africa. It is a bulk supplier of fuel oils into the energy market. SA Tank Terminals provides a bulk liquid storage service to customers and ensures easy access to the supply of products through processing, manufacturing and blending petrochemicals, transportation and storage. The Refinex and SA Tank Terminals have a diverse customer within the private and public sector. The acquisition amount was not disclosed.
Sakhumnotho Group Holdings was established in June 2000 by a group of black professionals with experience and expertise in financial services, legal services, merchant and investment banking. At its inception, the company focused on corporate advisory services and consulting. In 2002, the company changed its focus from being an advisory services firm to becoming a diversified investment holding company with interests in financial services, mining, mining services, real estate, renewable energy, oil and gas, education, technology media & telecommunications, agriculture, future industries, aviation and other strategic sectors. Sakhumnotho Group Holdings has invested in Northam Platinum, Total, Oil of Africa, Universal Mobile Network SGH Media and Sulzer.