South African TPM company Storex acquired by Evernex

Storex, a leading supplier of third-party maintenance for enterprise-sized organisations, has been acquired by Evernex, a leading international provider of third-party maintenance (TPM) services for data centre infrastructure. Evernex is a 3i company, having sold controlling interest to the investment organisation in October 2019.

Storex maintains data centre hardware and critical IT assets, such as servers, storage and business network equipment with multi-OEM expertise. Its level one B-BBEE status allows premium access to large South African corporates. Through its blue-chip clients, Storex serves banks, OEMs and telecommunications companies in South Africa, Kenya and Turkey, while also considering expansion into United Arab Emirates.

The acquisition gives Evernex a pool of local resources to grow its presence in South Africa, combined with the expertise of the Storex CEO and founder, Jan Beukes, who will remain with the business: “Both organisations have highly complementary capabilities and are well-regarded in the African market. It's a strong fit between two highly compatible businesses. We look forward to working closely with Evernex to build a strong international base.”

Stanislas Pilot, President and CEO, and Mohamed Bella, CMO and EVP MEA, Evernex, added: “We are delighted to be partnering with Storex. Combining our businesses will strengthen our position in eastern and southern Africa and enable us to grow our portfolio of blue-chip clients. Together with Storex, we aim to provide the best services to our customers, in South Africa and globally.”

Frédéric Chiche and Marc Ohayon from 3i France concluded: “Part of the rationale for investing in Evernex last year was to support its consolidation of the market and we believe this acquisition represents a material step towards creating a global market leader in the TPM space.”

3i invested in Evernex in October 2019. Headquartered in Paris, France, Evernex maintains over 200 000 IT systems in 160 countries and has a global network of 34 offices. It is the preferred maintenance partner for multinational companies and has developed a multi-channel and multi-vendor flexible offering. Going forward, additional bolt-on acquisitions are expected to remain a key value-creation driver for Evernex and 3i.