Johannesburg, South Africa, 21 June 2021
Adenia Partners, a private equity firm investing in Africa, has acquired a majority stake in Herholdt’s, a leading distributor of low-voltage electrical products and solar products in South Africa. Financial terms of the transaction were not disclosed.
Established in 1964, Herholdt’s operates in Bloemfontein, Kimberley and George, and has recently opened branches in Johannesburg and Cape Town.
Herholdt’s supplies a broad product portfolio of 10,000+ items to professionals – such as installers, contractors and resellers – as well as end-users. Herholdt’s originally focused on the sale of electrical equipment such as cabling, switches and sockets, as well as lighting. In 2018, Herholdt’s successfully diversified into the distribution of solar systems, a market experiencing rapid growth on the back of increasing product affordability and difficulties faced by the national power grid system.
Adenia will work together with Herholdt’s to strengthen its leadership position in the solar market through new store openings, partnerships with key promoters, digitalization, as well as potential acquisitions. The investment is Adenia’s first in South Africa.
“We are delighted to begin our South African journey by investing in Herholdt’s, a fast-growing business with an impressive corporate culture. As a responsible investor, we were particularly attracted by the potential for high contribution to the SDGs, and specifically to improve access to reliable and affordable energy,” said Florent de Boissieu, Partner at Adenia. “We are pleased to continue our pan-African expansion with our newest office in Johannesburg, as we believe the on-the-ground presence of our team is instrumental in actively supporting our investees.”
“We are thrilled to welcome Adenia as an investor and look forward to continue our growth with their strategic guidance and steadfast approach to improving governance. The partnership is in perfect alignment with Herholdt’s ambitions to become a national market leader, while meeting the highest industry and environmental standards,” said Heine Herholdt, CEO of the company.
The main advisors on the deal were Andrew Bahlmann and Nicolas Souvaris, from Deal Leaders International.
“The chemistry and synergy between the Adenia and Herholdt’s teams was there from day one and I have no doubt that their combined efforts will be formidable. It is exciting for us to see another great South African company attract an international partner for its next phase,” commented Bahlmann, Chief Executive of Deal Leaders International.
Adenia Partners is a private markets investment firm committed to responsible investing and a sustainable Africa. Founded in 2002, Adenia has successfully raised US $500 million across 4 funds. Adenia has a proven track record of strong and consistent performance with 27 platform investments executed and 16 realized exits. Based on the ground across Africa, Adenia has one of the most highly qualified African private markets investment teams in terms of educational pedigree, longstanding experience as entrepreneurs and investors, and local in-depth knowledge. By creating stronger companies with quality jobs, fostering economic improvement, and elevating companies to meet ESG standards, Adenia is increasing the enterprise value for investors, while benefiting workers, communities, and companies in Africa. For more information, please visit: www.adenia.com.
Herholdt’s is a leading distributor of low voltage electrical products and solar products in South Africa. The company has operations in Johannesburg, Cape Town, Bloemfontein, Kimberley and George. The company supplies professionals (installers, contractors, resellers…) as well as end-users.
Thanks to various partnerships with Tier 1 suppliers, Herholdt’s offers a broad product portfolio of 10,000+ SKUs. For more information, please visit www.herholdts.co.za/.
For Adenia Partners
Adenia Co-Leads Consortium Investment in Eastcastle Infrastructure
The joint investment with AIIM and IFC will provide USD130m in funding to Eastcastle to support the company’s
Adenia acquires East Africa’s leading life sciences distributor
Adenia Partners, a private equity firm investing in Africa, today announced it has completed the acquisition of Africa Biosystems Limited (ABL)
Adenia sells the leading provider of power security solutions in Côte d’Ivoire
Adenia, a private markets investment firm in Africa, today announced that it has finalized the sale of its 100% equity stake in Ademat to SPE Capital.
Restrictions on Use:
Any person using this website is permitted to copy and print individual website pages for non-commercial purposes. Users may also copy or print minimal copies of any research or reports posted on the site solely for informational, non-commercial use. These copies must not alter the original website content, including all legal notices and legends. Our prior permission is required for (i) any commercial use of materials on this website; (ii) making more than minimal copies of website materials; and (iii) copying large portions of our website, such as by bots, robots or spyders that “harvest” the website.
Linking and Framing:
All content included on this website, such as graphics, logos, articles and other materials, is the property of our organization or others and is protected by copyright and other laws. All trademarks and logos displayed on this website are the property of their respective owners, who may or may not be affiliated with our organization.
Information Submitted to Adenia Partners:
Please do not send any information to Adenia Partners that constitutes a trade secret or is confidential or proprietary. Adenia Partners cannot agree to obligations of confidentiality or non-disclosure with regard to information submitted to us. By submitting information or materials to Adenia Partners, you and anyone acting on your behalf, agree that any such information or materials will not be considered confidential or proprietary. Adenia Partners is not obligated to review any information or materials sent to us, Adenia Partners reserves the right to reject information or materials in its sole discretion and Adenia Partners will be under no obligation to return any information or materials to you. It is possible that Adenia Partners will receive a number of similar plans and ideas; you understand that your idea may have previously been submitted to Adenia Partners and may be under our consideration. In no event will Adenia Partners be limited or restricted from pursuing any opportunities with others.
Due to the global nature of the Internet, this website may be accessed by users in countries other than Mauritius. We make no warranties that materials on this website are appropriate or available for use in such locations. If it is illegal or prohibited in your country of origin to access or use this website, then you should not do so. Those who choose to access this site outside Mauritius do so on their own initiative and are responsible for compliance with all local laws and regulations.
Limitations of Liability:
We are not responsible for any damages or injury, including but not limited to special or consequential damages, that result from your use of (or inability to use) this website, including any damages or injury caused by any failure of performance, error, omission, interruption, defect, delay in operation, computer virus, line failure, or other computer malfunction. You acknowledge that we provide the contents of this website on an “as is” basis with no warranties of any kind. Your use of this website and use or reliance upon any of the materials on it is solely at your own risk.
The privileged and confidential information contained in or attached to this electronic message transmission is exclusively addressed to you. In any case the content(s) of this message neither constitute an advice nor is binding in nature. I&P Management (Indian Ocean) Ltd, except to the extent that it relates to their official business, will not be liable for any prejudice suffered by you in reading the contents of this message. Bear in mind that if you are not the addressee and that you use, copy, print, forward, save, disclose, disseminate or circulate this message or its attachments, you will be acting in contravention with the law and thus be responsible for the consequences which may result. If you received this message in error, please notify the Sender by return email, facsimile or by any other means and remove entirely the message and its attachments from your system. The Company will not be liable for any loss, disruption or damage caused to your data or computer system whilst receiving this message.
Adenia Partners respects the privacy of the visitors to our website. We generally record certain usage information, such as the number and frequency of visitors to this website. This information may include the websites that you access immediately before and after your visit to our website, the Internet browser you are using, your IP address and the country you have accessed the site from. If we use such data at all, it will be on an aggregate basis, and we will not disclose to third parties any information that could be used to identify you personally.
Disclaimer Google Analytics: