Pemba Capital Partners funded the MBO of 3 businesses from South African based Plessey Corporation November 1998. The transition included the right to buy Telstra’s phone handsets business. Pemba helped management carve out these activities and establish them as a business. Pemba and management together developed and implemented a strategy to supply all connectivity needs for loyal Commander installed base (2 million handsets across 500,000 SMEs).
Revenue at original purchase of $44m grown to $300m at exit.
Add-on acquisitions completed (LAN/WAN, Conferencing, Mobile & web) to establish required capabilities as well as expand customer base.
Listed in November 2000 at $150 million (2005 – $400 million) generating a 140% IRR on initial investment ~ AVCAL best MBO 2001.