RMB Ventures announces strategic equity investment in Mafika Engineering
RMB Ventures has acquired a 45% stake in Mafika Engineering, Africa’s largest independent rebuilder of high horsepower (HHP) diesel engines used in the mining industry.
This is one of the company’s largest private equity investments to date.
RMB Ventures is investing alongside the existing management team that is said to have delivered good growth over the past 20 years.
Mafika Engineering recently opened its new rebuild centre.
Mafika Engineering performs “zero-hour” rebuilds (returned to new) of HHP and ultra-HHP engines used in high-value front-line mining equipment such as ultra-class haul trucks, dozers and excavators. These machines are said to be pivotal drivers of mine efficiency and profitability.
“We are proud to be partnering with a homegrown South African business that provides a world-class service to some of the largest mining houses on the continent and around the globe.
“RMB Ventures will help instil the appropriate systems, processes and funding to position the business for further growth without losing the flexibility and responsiveness so important in servicing its customers,” says RMB Ventures senior transactor Amina Pahad.
Through remanufacturing mission-critical engines for its customers, Mafika Engineering says it allows its customers to participate more fully in the circular economy. Remanufacturing offers mining houses an opportunity to recycle existing resources, restoring the efficiency and output of their equipment at a lower price, for original-equipment-comparable quality.
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