Rand Merchant Bank Corvest
In 2012, a consortium of investors made an equity investment in Vital to provide support for the Company’s growth and expansion plans with a follow-on investment 2016. Rand Merchant Bank & Blue Falcon merged to develop the equity partner called RMB Corvest. The terms of the investment provided the consortium with a 40% equity interest in the Company. The team at RMB Corvest are Mike Donaldson & Charl Ferreira.
Investment criteria
As an on-balance sheet private equity company we do not have exit timing pressures
We invest selectively in a variety of businesses, based on the following:
- Sub-Saharan African companies making sustainable annual earnings above US$3 million operating profit
- Profitable and cash generative companies
- An experienced and competent management team
- Demonstration of market or niche dominance/leadership
- Good growth prospects
“Vital presents a promising business with a robust product portfolio, strong brand positioning in a growing consumer goods sector that benefits from Nigeria’s demographic dynamics and an established manufacturing base with a well-entrenched distribution network.” – RMB Corvest
Mike Donaldson
Mike initially gained corporate finance experience with Coopers & Lybrand (UK) and thereafter with Investec Bank. He later gained his private equity experience by being part of the private equity team at Investec prior to joining RMB Corvest in 2004.
Charl Ferreira
Mr Ferreira is an Executive Director at Zungu Investments Co. He is a Chartered Accountant and his advisory experience ranges from consulting on and managing acquisitions, disposals, mergers, divestments, tender sale processes, listings and de-listings on the JSE, capital raisings and senior, mezzanine and project finance-based lending in the mining industry.
Prior to joining Zungu Investments Co., Mr Ferreira spent many years with Nedbank Capital, where he was part of the Investment Banking Division, in the M&A Advisory team. He also worked within the Mining & Resource Finance team.
Mr Ferreira is responsible for making investments, disposal as well as managing the investment portfolio. He represents Zungu Investments Co. on various boards as well as sub committees to boards.
“The RMB Corvest team have been fantastic partners, we have grown six times in product range and capacity since we entered into the partnership. Moreover they have been great friends and confidents through this rollercoaster of unpredictable events” – Chairman, Vital Products Plc, Sanjeev Kapoor
RMB Corvest
“Private equity in action, not words“
History
Founded in 1989 by Neil Page, Dick Merks and Dave Rissik the company invests in established, well-managed, medium-sized businesses across South Africa and Sub-Saharan Africa with a proven track record of solid performance. Neil and Dick remain actively involved in the company, making a valuable contribution to strategy and direction.
Based in South Africa, RMB Corvest invests in well-managed medium-sized businesses across Sub-Saharan Africa, and in its 28-year history, continues to adopt a consistent approach for each of its investments. Their interest lies in forming long-term partnerships that yield maximum returns for all parties involved.
RMB Corvest offers both strategic and financial support to skillful management teams with the entrepreneurial acumen to run their own businesses. Through meaningful long-term partnerships, RMB Corvest has seen many of its investments grow and mature, ultimately leading to a successful exit.
About RMB Corvest – www.rmbcorvest.co.za
- RMB Corvest is a private equity company and is a member of the FirstRand Group.
- Commitment to a long term, mutually beneficial relationship
- Immediate access to an experienced team of executives with diverse skills
- Established and successful track record with a reputation for prolific deal flow
- Access to the RMB and First Rand network
- No exit timing pressures
- Quick decision making and excellent service
Based on the individual needs and circumstances of each client and working through a personalised and dedicated relationship, we offer the following services:
- Providing unsecured shareholder funding for private companies in return for an equity stake in the business
- Assisting management in funding management buy-outs and management buy-ins
- Assisting investor groups in funding leveraged buy-outs and leveraged buy-ins
- Providing development finance for successful, growing companies in South Africa and Sub-Saharan Africa
- Funding new acquisitions for private companies
