A black economic empowerment (BEE) consortium led by Avalanche SA and Nokusa Holdings has bought stakes in both the local and global businesses of EPI-USE Systems.
EPI-USE is an IT solutions provider specialising in the implementation and integration of enterprise applications.
The value of the deal, which sees the BEE consortium acquire 40% of the local operation and 5% of the global business, has not been disclosed.
EPI-USE says the deal also gives the consortium the option to increase its shareholding to 51% locally and 20% globally.
The consortium includes Ahanang Investments, Savela Investments, South African Youth Council Investments and Krew Capital.
Nokusa CEO Moss Hadebe says EPI-USE and its new equity partners have been involved in joint business initiatives for more than two years.
"Unlike many other BEE transactions, we have a long-term business relationship that has already proven to be successful. Our combined skills and similar business culture will add considerable value to the new company.
"The consortium will be actively involved in operations of EPI-USE Systems. In due course, it will be deploying people at all levels, including a number of senior executives."
Representing Ahanang, Saki Macozoma, former New Africa Investments CEO, takes up the post of EPI-USE chairman.
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