2005

September

  • Amrite acquires Sasani Limited for R133 million
2005

October

  • Sasani delisted from JSE
2008

January

  • 100% sold to Sabido (Pty) Ltd - holding company of eTV and HCI Group

From its inception in the late 1990’s Sasani Limited was the premier facilities supplier to the South African film and TV industry, covering all aspects of the production of film and television.  James Whitehouse was appointed CEO in June 2002 when the share was trading in a range from 40 – 50c.  After a successful turnaround and repositioning, he initiated and led a buy-out in September 2005 for which shareholders received R2.07 per share.  The group was subsequently delisted and sold to eTV in early 2008.

In addition to the provision of facilities, Sasani lead the development of the DTI’s film rebate program and invested in several films in its own right.  One of its most satisfying achievements was the total overhaul of the secondary education system in Ethiopia where Sasani was responsible for the implementation of a video based satellite education system and the production of more than 3000 30-minute educational videos.

2008

March

  • Roadspan Surfacing (Pty) Ltd formed by Amrite with Ellerine Bros and CoroCapital Limited as equal shareholders
2008

May

  • Roadspan Asphalt Plants (Pty) Ltd formed when assets from 10 plants previously owned by Blacktop Holdings (Pty) Ltd were acquired on auction.
2009

Year End June

  • Turnover of 183 million achieved in first year
2009

January

  • 30% stake in Roadspan Holdings sold to WBHO Construction (Pty)
2010

February

  • A further 40% in Roadspan Holdings sold to WBHO Construction
2010

June

  • Turnover of R423m in year to end June 2010
2011

May

  • Sale of final tranche of 30% to WBHO Construction (Pty) Ltd

NATURE OF BUSINESS

Since its inception in late 2014, Ebor has become one of the leading Tier 1 suppliers of complex injection mouldings and assemblies to the automotive sector.

BRIEF DESCRIPTION OF THE TRANSACTION

August 2014 - High Street Capital lead a consortium comprising themselves, Don Searle and Possey Mina and management in the acquisition of the complete plant and assets of Visteon SA. Visteon SA had been a market leader in the SA specialised injection moulding sector since 2001. After acquiring the plant and assets, and establishing a new company, Ebor Automotive Systems, the key staff from Visteon SA were rehired and a lease secured over the same manufacturing premises in Port Elizabeth.

PROGRESS SINCE HIGHSTREET CAPITAL INVOLVEMENT

January - May 2015 -  EBOR secures significant production contracts for Volkswagen South Africa, Faurecia & various other OEMs and Tier 1 suppliers

December 2015 –  EBOR secures a basket of parts for the new Polo 270 from Volkswagen South Africa.  The value of the seven year contract is just under R1billion.

March 2016 – EBOR completes a 600 square meter extension to its plant in Perseverance to house the new 1700t, 1100t and 3 other presses.  Phase 1 production commenced in April 2016 and the second phase began in the middle of 2017.  By the end of 2017, EBOR employs 120 staff.

2019 - 2020 – EBOR secures >R1bil from Mercedes Benz South Africa and its Tier 1 suppliers. With the support of funding from the Industrial Development Corporation, a new 7500 m2 facility will be completed in East London by mid 2020 to supply the MBSA C-Class requirements.

NATURE OF BUSINESS

Residential property development

BRIEF DESCRIPTION OF THE TRANSACTION

In early 2015 High Street Capital acquired a 16 000m2 section of the Mountainview Ridge at the top of Sylvia’s Pass in Johannesburg. 

PROGRESS SINCE HIGHSTREET CAPITAL INVOLVEMENT

The intention was to develop 7 luxury residential properties in a secure upmarket estate, (click here for details).  The processes of rezoning and subdivision took longer than anticipated and resulted in a reduction in the number of units that could be built.  This lowered the projected returns such that they no longer met the High Street Capital benchmark.  As a result, the property was sold off in 2 tranches in late 2015 and early 2016 at a nominal profit.