SnoLink Logistics to boost capacity after acquisition by Clearwater Capital
Private equity fund manager Clearwater Capital has acquired Etlin International’s temperature-controlled storage and logistics arm through a business rescue deal.
This division, SnoLink Logistics, will continue to serve its existing customer base, which includes several blue-chip retailers.
“Clearwater has had an interest in this sector for several years – this acquisition was a strategic one,” comments Clearwater Capital executive chairperson Harish Mehta.
“Furthermore, it creates new opportunities for importers of temperature-sensitive products, like ice cream and mechanically deboned meat, to access the South African market with greater confidence.”
Under the new ownership structure, the logistics provider will maintain its workforce of 480 employees.
Plans are, however, underway to increase SnoLink’s national capacity by 43%.
Part of this includes building a new facility in Gqeberha, in the Eastern Cape, with construction due to start next year.
Christopher Nulliah, who has been with the company for over two decades, will remain SnoLink Logistics’ MD.
“Navigating this new chapter under Clearwater Capital’s ownership presents an exciting opportunity for SnoLink,” he notes.
“Our continued commitment to excellence and strategic expansion plans will allow us to better serve our customers.”
SnoLink currently specialises in solutions for frozen, chilled and ambient temperature-controlled product warehousing, port-clearing services, and long-haul and fine distribution to retailers.
The company also facilitates the export of local products, such as frozen concentrate, used in the US and European beverage industries.
Clearwater Capital, a majority black-owned private equity management firm, was founded in 2004.
Its portfolio includes investments in City Logistics and Fastway Couriers, among others.
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