Vantage Capital, Africa’s largest mezzanine debt fund manager has fully exited its investment in Thebe Timrite, which is a leading supplier of mining support products and services in South Africa. Vantage previously provided mezzanine debt funding of R89m for the 100% acquisition of Timrite by Thebe Investment Corporation in 2013. The funding was also used for the expansion of the Thebe Timrite operations through capital expenditure. Thebe Investment Corporation is well known black-owned fund manager that has over R6 billion in assets under management. Vantage Capital has successfully exited 9 investments generating proceeds of R2.6bn across its three generations of mezzanine debt funds and achieved an aggregate money multiple of 2x.
Posted in .