Kwikot

In 1999 Corvest provided equity funding for the management buy-out of Kwikot from listed company Boumat Limited.

 

With the input from RMB Corvest, management embarked on a growth strategy through the modernisation and expansion of the manufacturing plant to be comparable with first-world hot water geyser manufacturing plants, and by adding additional product lines to the existing sales and distribution facilities. A large investment was also made in purpose-built distribution outlets in the major cities in South Africa.

In 2016 the shareholders of Kwikot secured a deal with Electrolux to sell 100% of Kwikot for an enterprise value in excess of R3-billion, resulting in both significant value creation for the existing shareholders, as well as securing an international owner of the business to ensure the long-term sustainability of the business.