Medu Capital, the South African private equity firm, has acquired a 15% stake in Hero Telecomms for R74.25 million, (approximately $5.75 million at current rates), valuing the wireless internet service provider at R495 million or $38.4 million.
Stellenbosch-based HeroTel was established in 2014 to with the objective of consolidating the fragmented Wireless internet Service Provider (WISP) market. Since then, the company has acquired a total of 10 WISPs and is reportedly working an additional two potential acquisitions currently. The fresh equity capital will be used to fund the company’s ongoing acquisition plans.
To read this article, you must be a paid subscription member. (Current members login here
Reserve your digital subscription today
Join now for $35 per month
Join now for $395 per year
for access to:
- Weekly newsletter with original and curated news, analysis and perspective
- Africa’s private capital deals, fund raises and the investment firms and executives involved
- Portfolio company news that impacts value and stakeholder participation
- Job moves and partnerships between leading market participants
- Exclusive access to Africa Capital Digest’s full content archive
If you’d like more information on exceptional value group subscriptions for your colleagues and teams, please contact Teresa Hall at thall[at]africacapitaldigest.com today.