SMIT Amandla Marine, a provider of specialist marine solutions in the southern African region, has been acquired by African Marine Solutions Group (AMSOL), owned by a consortium including SMIT Amandla Marine management and employees, the Mineworkers Investment Company, Pan-African Capital Holdings and RMB Ventures.
According to AMSOL managing director Paul Maclons, who joined SMIT Amandla Marine in 2004, the business opportunity for a management buyout was the catalyst for this transaction.
“Delivering marine solutions to international standards to government and private sector clients, the company’s track record and long term partnerships have ensured substantial growth and value creation since SMIT Amandla Marine was launched more than a decade ago,” said Maclons.
Mary Bomela, the CEO of the Mineworkers Investment Company, believes the acquisition supports the objectives of Operation Phakisa: “In facilitating the transformation of the maritime economy in South Africa, AMSOL is now in a unique position to support the continued growth and transformation of the sector in the region – with the transaction including SMIT Amandla Marine’s business in Namibia and Mozambique.”
The company will transition to the AMSOL brand by the end of 2016.
