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New dawn for Laser Group with BBBEE deal

One of South Africa’s largest independent logistics companies, the Laser Group (Pty) Ltd, has concluded a significant BBBEE transaction making it one of only a few in the sector that is majority black-owned.

The transaction, settled on July 30, saw a management consortium led by Laser Group CEO Iain Johnson, Chairman Philip Hayes alongside PAPE Fund Managers through its boutique private equity fund, PAPE Fund 3, acquire 100% of the equity of the Group.

PAPE Fund Managers (Pty) Ltd is a level-1 BEE rated fund manager, with shareholders that include the Cala Foundation Trust – a broad-based education and health upliftment trust that benefit rural women in the Eastern Cape.

Through the deal, PAPE acquired 48.3% equity interest in Laser.

The Group’s 51% black ownership is comprised of the black participation in Laser’s management consortium as well as the significant investment from PAPE.

Laser is now one of the few independent logistics players in South Africa that is majority black-owned thanks to the new deal,” – says Johnson

With turnover in the 2017 financial year exceeding R2.4 billion, Laser is privately owned with diverse interests in express distribution, specialist front door and back door retail distribution and international clearing, forwarding and project logistics.

The Group employs more than 3 500 people and operates a fleet of over 1 000 vehicles from 110 facilities across South Africa.

Johnson says transformation in the business is a major step in the right direction as the Group is committed to furthering the objectives of the country’s BBBEE agenda.

All of the Group’s operating businesses – DPD Laser, Dawn Wing, Time Freight, Laser Logistics and GAC Laser – stand to benefit from the transaction.

Hayes points out that transformation for a business like theirs is non-negotiable.

Our significant investments over the past few years in infrastructure, IT, people and processes have all been geared toward improving the customer experience.”

He goes on to explain that the PAPE deal serves to accelerate the Group’s competitiveness and relevance in e-commerce, healthcare, automotive, retail and business-to-business markets.

Welcoming the deal, PAPE CEO Dr Zuko Kubukeli says Fund 3’s mandate is to deploy investors’ capital into targeted mid-cap, unlisted South African businesses that demonstrate high growth potential with the opportunity to transform the economy.

Laser is a well-established enterprise with a highly competent management team and pedigreed international partners. PAPE Fund 3 views this business as holding enormous potential for future growth and expansion,” – says Kubukeli

PAPE Fund 3 realised its first closing in July this year with R471 million in initial capital commitments. Investors in the fund include the Public Investment Corporation (PIC), the Eskom Pension and Provident Fund and FMO: the Dutch Entrepreneurial Development Bank. Pape Fund 3 will continue raising capital commitments to a hard-cap target of ZAR1.2bn by June 2019.

This transaction brings to our group a level-1 BEE rated shareholder with whom we can engage to grow our business in our core and new niche markets. The transaction has also enabled and empowered the executive team to take ownership of the business and grow it to new levels of performance and profitability,” – Hayes concludes

Samantha Jones

Samantha Jones

Thank you for going beyond expectation and assisting with getting issues within the customer structure rectified before it ends up a bigger problem and we have an unhappy customer. Rita van Wyk Claims Administrator Laser Logistics

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Tammy Reader & Melandri Scherman

It’s always a pleasure phoning Tammy and Melandri – always very friendly, always very helpful.  They both go the extra mile and are eager to help solve anything – such ambassador’s.

Big Thank You ladies!

Tercia Snyman
Operational Manager
Time Freight

Jared Valentyn

Jared

We had an urgent SMEG delivery before 18:00.  The item had arrived in Cape Town, however the vehicle scheduled to deliver this on the second trip was delayed at another delivery point. After much calling around to alternate drivers, but with no joy, Jared waited …

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Ruan Visser

Ruan

We take this opportunity to thank Ruan who works consistently and diligently.  He is always so positive and encouraging. Ruan arrives anytime in the morning between 05h00 and 06h30 and works until whatever time including weekends without being asked – he steps up to the …

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Len Swanepoel

Len

Thank you Len for going the extra mile. Len arranged a pamper day for all the female staff as a thank you for all our hard work and an evening out for the guys. He resolves matters to such a level that the staff feel …

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Msindisi Kulati

Shaun Rieckert

Thank you to you and your team for relocating our group Appliance Warehouse from Laser Isando to Laser Chloorkop without experiencing any problems in your planned relocation.   A plan that was allocated five days yet you concluded it in two days – to me that …

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Elias Ledwaba

Shaun Rieckert

Thank you to you and your team for relocating our group Appliance Warehouse from Laser Isando to Laser Chloorkop without experiencing any problems in your planned relocation.   A plan that was allocated five days yet you concluded it in two days – to me that …

Read more

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Devin Delport

Devin Delport

Thank you Devin for always helping us.  No matter how big the problem is and no matter what time of the day – you always help. Thank you. Michelene Janse van Vuuren Client Liaison Officer Laser Logistics

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