Investment holding company Thesele Group has bought a 40% stake in data management solutions company Knowledge Integration Dynamics (KID), making KID a majority black-owned entity.
The "multimillion-rand deal", which is already in effect, gives KID a level four broad-based black economic empowerment (BBBEE) rating, with several of its subsidiaries now 100% black-owned and BBBEE level one rated companies.
KID co-founder and MD Aubrey van Aswegen says the investment marks the start of a new growth phase for the data management specialist.
"KID has grown fairly organically over its 20-year history, but we are now approaching a point where fuelling the same pace of growth will demand a more aggressive expansion phase and possibly strategic acquisitions. Our new partnership with Thesele Group will support this growth strategy," he says.
Thesele is a 100% black-owned investment company that was established in 2005. It has a diverse investment portfolio across financial services, logistics, manufacturing and automotive industries but this investment is the company's first foray into the ICT space.
Thesele executive director Oliver Petersen says the KID acquisition is in line with its long-term investment approach in existing and emerging growth sectors.
"Both groups also have the view that data and data management is a key growth area, with a wide range of opportunities in areas such as big data, the Internet of things, automation, robotics and artificial intelligence," Petersen adds.
Van Aswegen says KID had been in the market for a suitable BEE partner for some time "not only to improve our scorecard, but to play an active role in business development for us and bolster our growth aspirations".
The partnership will not be a 'passive' one, he adds, as Thesele will work closely with KID to support mutually beneficial growth.
"This is a key milestone; not only for KID as a company, but also for its stakeholders, including staff and customers," Van Aswegen adds. "It will facilitate growth for us, and we look forward to Thesele growing their exposure to the ICT space using KID as the platform."
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