Cape Town-based unit of Investec closed purchase of Idwala Industrial Holdings from Old Mutual Private Equity, Ethos, Kagiso Tiso Holdings in December for undisclosed price, Old Mutual PE head Jacci Myburgh says in interview.
* Investec couldn’t immediately comment; Idwala Managing Director James Welsh declined to comment;
* Idwala formed by management buyout of JSE-listed Alpha in 1998; company bought in 2004 by group of investors including Tiso Group; refinancing in 2008 helped Rand Merchant Bank exit, clearing way for Ethos, Old Mutual: Idwala website;
* Company’s main products are lime, calcium carbonate used in gold, base metals, chemical, pulp, plastic, paint industries. Source: Bloomberg