Much Asphalt

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Investec is pleased to announce that it has provided an acquisition and growth financing package to Much Asphalt Proprietary Limited (“Much Asphalt”). This package will be utilised by Old Mutual Private Equity and Sphere Investments to acquire Much Asphalt and support its working capital requirements over time.

Burchert Johannes, Principal at Old Mutual Private Equity, commented, “Our investment in Much Asphalt reflects our confidence in the infrastructure repair initiatives underway in South Africa, with road infrastructure, and Much Asphalt, playing a pivotal role in stimulating economic growth and job creation for the country. Investec’s support, insights into the business, and partnership approach was instrumental in the successful conclusion of this transaction.”

Mohammed Sabi, Director at Sphere Investments, added, “Looking beyond financial returns, road infrastructure plays a pivotal role in connecting South Africans, empowering our previously disadvantaged and isolated communities and unlocking the economic potential of our nation. Sphere’s investment in Much Asphalt not only reflects our focus on investing in high-quality businesses, but together with our financial partners at Investec, represents a joint commitment to our nation.”

Investec remains committed to supporting initiatives that promote economic growth and infrastructure development in South Africa.

_{About Much Asphalt}

Much Asphalt is South Africa’s leading independent producer of asphalt and bituminous products. Using best-in-class technology and its extensive expertise, Much Asphalt manufactures and delivers premium grade products to customers for use in infrastructure such as roads, airport runways and for private use. Much Asphalt is well positioned to play a key role in the maintenance and expansion of South Africa’s road network.