A black economic empowerment consortium headed by brothers Nkosinathi and Lucky Khumalo have acquired a 26% stake in Advanced Consumables Technology (ACT) for an undisclosed sum.
ACT is MB Technologies` consumables distribution business, representing brands such as HP, Epson, Lexmark, Brother, Canon and Xerox.
ACT`s MD, Anton Herbst, says the deal goes beyond merely improving his company`s shareholding profile.
The Khumalo brothers built their firm, Mthombo IT Services (M-IT) into a nationwide infrastructure support company with more than 250 employees.
"The presence of these two experienced shareholders and resultant input at both board and operational level will also bring huge benefits to ACT as it gears up for growth over the coming year," Herbst says.
"Synergies identified so far include a service-orientated mindset, the experience to run a lean and efficient business and the fact that Mthombo IT Services has also undergone many of the same challenges as ACT has in its growth in the local market.
"Their strong desire to be active at an operation level really made the difference in our minds."
M-IT CEO Nkosinathi Khumalo says M-IT spent 18 months searching for a partner in the distribution sector.
Share
