May 24, 2016 9:56 AM ET

Capital Markets

Company Overview of Mineworker's Investment Company

Company Overview

Mineworkers Investment Company (Pty) Ltd. is a private equity arm of The Mineworkers Investment Trust specializing in making late stage investments in listed and unlisted mature businesses. It does not make investments in start-ups and early stage businesses. The firm seeks to make investments in buyouts, replacement capital, expansion and development. It seeks a mix of both long-term capital growth and dividend income. The firm does not invest in directly competing investments. The firm does not take a direct stake in any company in the extractive mining, primary agriculture, primary power generation, energy or construction sectors, however, it do invest in companies that service these indu...

MIC Place

4 Eton Road

Parktown

Johannesburg,  2001

South Africa

Founded in 1995

Phone:

27 11 088 1800

Fax:

27 11 088 1845

Key Executives for Mineworker's Investment Company

Chief Executive Officer and Executive Director
Age: 42
Financial Director and Executive Director
Age: 38
Senior Investment Manager
Senior Special Projects/Investment Manager
Age: 42
Senior Investment Manager and Executive Director of Investments
Age: 37
Compensation as of Fiscal Year 2015.

Mineworker's Investment Company Key Developments

Mineworker's Investment Company seeks Acquisitions

Mineworker's Investment Company is seeking acquisitions. Mineworker is on the prowl for acquisitions and is looking for a deal in which it can acquire a 51% controlling stake. Mineworker was vague about what it planned to acquire, only saying that it was looking for an investment in a company operating in the & consumer space & MIC's plans reflect the strategy changes of empowerment companies that now want controlling interests rather than passive minority stakes.

Mineworker's Investment Company Seeks Acquisitions

Mineworker's Investment Company is seeking acquisitions. "We are looking to make acquisitions in meaningful businesses and we will also disinvest in some businesses. We think black economic empowerment has moved from just being a minority stakeholder. We are looking at acquiring controlling stakes in future investments," Mary Bomela, Chief Executive Officer, said.

MIC Mulls Acquisitions

Mineworker's Investment Company (MIC) intends to pursue acquisitions. MIC plans further acquisitions in telecommunications and health care, Mary Bomela, Chief Executive Officer of MIC, said on July 2, 2104. "Cash generation and growth is important to us. We need to see a good return. We are always looking for new investments, and we look at a minimum of 25% equity," Bomela said. The MIC's strategy is to invest a minimum of ZAR 500 million in companies that are worth at least ZAr 500 million. "We don't have an appetite for start-ups or really hi-tech businesses which required specialized skills. We have appetite for 'sin assets', for example gambling. In the past we have had to walk away from some investments because of the way they do business." MIC has no plans to look outside South Africa for opportunities.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
June 18, 2015
Izazi Solutions (Pty) Ltd.
 

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