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Capitalworks buys into IQ Business

Staff Writer
By Staff Writer, ITWeb
Johannesburg, 30 Nov 2016
It is time to enter a new phase of growth, says Adam Craker, CEO IQ Business.
It is time to enter a new phase of growth, says Adam Craker, CEO IQ Business.

SA-based independent alternative asset management firm, Capitalworks has acquired a significant interest in IQ Business.

The companies say the transaction has been made alongside Tiso Investment Holdings, existing shareholders of IQ Group Holdings and the executive partners of IQ Business.

"We have achieved significant growth over the years through the support of our existing shareholder base," says Adam Craker, CEO IQ Business.

"It is time to enter a new phase of growth by fast tracking the expansion of our scope of services and the industries we serve, and we are delighted to partner with Capitalworks and Tiso in this new chapter in the history of our firm."

Darshan Daya, principal at Capitalworks notes: "Capitalworks first approached IQ Business in 2012. We have monitored the success and growth of IQ Business over the past four years and profiled their activities. We believe the leadership team of IQ Business has created a solid foundation for further growth and expansion with the support of an active private equity investor.

"Capitalworks typically invests in companies with leading positions in their respective industry segments or niches, often with an existing strong brand or market share - like IQ Business. We adopt a 'hands-on' approach, creating value directly through our partnership with management and our interventions with the company to build scale, improve competitive positioning and to drive growth and profitability."

IQ Business, Capitalworks and Tiso explain that their emphasis will be to continue to create value for IQ Business' clients by expanding their services and industry coverage through organic growth and targeted acquisitions of complementary businesses.

Commenting on the transaction, co-founder of Tiso Investment Holdings, Nkululeko Sowazi says: "Tiso has a long and successful track record of co-investing alongside management and like-minded investors in companies that have solid growth prospects and Pan African ambitions. We are, therefore, excited about our investment in IQ Business and look forward to a mutually beneficial partnership into the future."

"Our growth plans are dependent on retaining and attracting leadership talent at partner level. With the introduction of Capitalworks and Tiso as strategic partners, we believe our ability to invest for growth together with the opportunities that the transaction has provided for the leadership team to have a deeper vested interest in the success of our firm, will be a significant differentiator in the war for talent, which our clients will be the ultimate beneficiaries of," Craker concludes.

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