Deal Summary
Solevo MEA B.V. ("Solevo"), a leading pan-African specialty chemicals distributor, backed by its controlling partner, Development Partners International (DPI), acquired a 100% equity stake in Rolfes Group (“Rolfes”), a South African food ingredients and diversified chemicals distributor. As part of this transaction, Solevo has agreed to sell a 12.5% stake in Rolfes to Afropulse Group, a permanent capital investment company wholly owned by black women, who will be Selovo’s partner in South Africa. This acquisition marks an exit for Rolfes’ former owners—Masimong, Sabvest, and Phatisa. Previously listed on the Johannesburg Stock Exchange, Rolfes was taken private in 2020 after Phatisa acquired a 40% stake, with Masimong and Sabvest retaining their shares as shareholders. Solevo’s acquisition of Rolfes is a key step in its long-term acquisitive growth strategy following its 2023 acquisition by DPI alongside minority co-investors South Suez and the German development finance institution, DEG.
Terms
- Acquiring Companies: Solevo MEA B.V.
