ITAS

The deal enhances RMB Corvest’s extensive portfolio and for ITAS, the deal facilitates and supports the company’s growth aspirations.

ITAS, founded by Mr Johan Luyt with the support of his wife, Mrs Anneke Luyt, is a specialist manufacturer of value-added, end-to-end physical security products, which target the protection of people and cash, along with secure access control systems. The business designs and manufactures cost effective, low maintenance, electro-mechanical, physical security safety equipment and offers these end-to-end solutions to a variety of industries.

Genevieve Alberts, Executive: RMB Corvest explains that this opportunity arose as a result of the retirement of the founders of the business and the need for Black Empowerment in the business. “We are excited that the inclusion of Imbani Private Equity will result in ITAS being at least 51% Black owned and 30% Black Women owned,” she said.

Menzi Khoza, Executive: RMB Corvest executive, notes that the highly competent senior management team at ITAS, as well as the projected levels of sustainable growth and cash generation within a steady business model makes this an ideal investment opportunity.

Briss Mathabathe, founding Director: Imbani, says that our shareholding has incorporated a significant BEE element into the business and an opportunity to leverage off our vast business networks, making ITAS an even more attractive potential supplier in the South African safety and security industry. 

“The nature of our business lends itself to long term, stable customer relationships,” says Bennie Luyt, Managing Director: ITAS. “Our research and development team also ensures ITAS stays ahead of the competition and keeps on delivering innovative security solutions for clients. We look forward to unlocking further opportunities in the broader market as well as through both RMB Corvest’s portfolio companies and Imbani’s investee entities.”

Mike Donaldson, CEO: RMB Corvest, says that this was a win-win transaction. Precisely because, as a specialist PE player, we understand the intricacies of medium sized businesses, facilitating adept management teams to acquire equity alongside us, and then supporting management in growing the business. “It’s the basis for a successful partnership and investment for all parties,” he concludes.