A private equity consortium led by Ethos Private Equity has acquired approximately 80 per cent of the RTT Group for an undisclosed sum.
Other key shareholders in the consortium are African Development Partners II, a private equity fund advised by Development Partners International (DPI), and the Government Employees Pension Fund (GEPF), represented by the Public Investment Corporation (PIC).
RTT’s current senior management team and a black empowerment staff trust will hold the remainder of RTT’s share capital.
Freddy Moore, RTT Group chief executive, says: “My management team and I are delighted to be partnering with our new shareholders. Our shared vision of growth will take RTT to new heights by expanding our offerings, and tailoring these services to specific customer needs. Beyond the excitement of this transaction, our focus remains ̶ as always ̶ on providing excellent service to all our customers.”
Anthonie de Beer, partner at Ethos Private Equity, says: “With a leading market position and differentiated business model, the consortium considers RTT a very attractive investment opportunity. RTT’s management team is experienced and energised; we look forward to collaborating with them to grow RTT to achieve full potential.”
