Acquisition will position security solutions company for international growth
Pan-African Commercial Ventures, a black owned and managed private equity holding company, hascompleted a strategic acquisition with a majority stake in C3 Shared Services (Pty) Limited (“C3SS”), a South African provider of advanced electronic security and detection solutions.
Pan-African Commercial Ventures (Pty) Ltd now owns 51percent of C3SS. The strateg ic acquisition was spearheaded by Dr. lraj Abedian,PACV’s chairman,the founder of Pan-African Capital Holdings and a former member of President Mbeki’s Panel of Economic Advisors.
Through this acquisition. C3SS m ainta ins a Leve l 2 Broad-Based Black Economic Empowerment (BBBEE) rating. The parties will work to ensure that C3SS complies with its socioeconomic responsibilit ies to ensure broader and more meaningful participation in the economy and to achieve sustainab le develop ment and b usiness expansion.
“We are thr illed to be able to take a majority stake in a growing South African company that shares our principals of integrity, innovation and independence,” Dr. Abedian said.
Professor Tania Ajam, Associate Professor of Public Policy, Finance and Economics at the University of Stellenbo sch School of Public Leadership, and Mr.Krish Naidoo, a veteran ITsecurity professiona,l have joined the board of directors, effective January 1, 2020. Prof. Ajam will assume the roleof chairperson. The new directors were added to the board for their unique professional perspectives and years of collective experience to help establish the C3SS’s new strategic direction and ensure imp eccable governance. Under the guidance of the new board, the company will expand its products and services, incor porating cyber security solutions and expanding C3SS’s internat iona l footprint.
Furthermore, the parties intend to explore the establishment of an asset financing entity to work closely with C3SS as its funding collaborator to facilitate further market penetration by C3SS and unlock its full commercial potential.
Established in 20 05, Pan-African Commercial Ventures (Pty) ltd isablack-ownedandmanaged investment holding company. The company is a generalist private equity investor in small and medium enterprises with special focus on innovation, environmental protection, and holds a diverse portfolio of investments across industries such as agriculture and agro processing, manufacturing, and the creative industries. PACV is a long-term investor focused on making strategic equity investments prim arily in unlisted companies in South Africa and abroad.
For more than 14 years, C3 Shared Services (Pty) Ltd has specialized in the design and implementation of intelligent video, fire and perimeter security solutions. C3 Shared Services has a long and successful history of providing high-tech integrated security and fire solutions to both the South African and African market. This new partn ership provides an ideal platform for further innovation and service excellence. Learn more at www.c3ss.com.