Ethos and Apex Acquire Torre Industries
Posted On: 08 Aug 2019 | Sources: Africa Global Funds | Author(s): Anna Lyudvig
South Africa-focused private equity fund manager Ethos and global private equity investment group Apex Partners have acquired two separate parts of Torre Industries, a South Africa-based industrial equipment producer. Following the company’s delisting from the Johannesburg Stock Exchange in April, the company was separated into Torre Analytical Service, which Ethos has acquired through its Mid Market Fund I, and Torre Industrial, which was acquired by Apex. The two companies will partner with Ethos and Apex to improve their respective capital structures and craft independent growth strategies. Additionally, Torre Analytical Service will be rebranded as the Synerlytic Group. Financial details of the transaction were not disclosed.