Infinite Partners, an African private equity fund manager, has announced the exit of The Particle Group (TPG) from Synerlytic Group Holdings (Synerlytic).
This strategic move includes the sale of TPG, a leading manufacturer of Certified Reference Materials (CRM) for the metals and mining industries, to Admaius Capital Partners (Admaius).
Synerlytic is one of sub-Saharan Africa’s (SSA) leading Testing, Inspecting and Certifications (TIC) companies and is a portfolio company in the mid-market fund managed by Infinite Partners.
TPG has two operating businesses:
- AMIS, based in Johannesburg, with approximately 50% of its revenue generated in SSA and the remainder from servicing clients in other global markets.
- CDN, based in Vancouver, Canada, focused on clients in the Americas.
Under the leadership of Chief Executive Officer Raksha Naidoo, TPG has emerged as a strong-performing asset, delivering impressive results through organic growth and strategic mergers and acquisitions.
Since May 2019, Infinite Partners and TPG have embarked on an exciting journey together. Infinite Partners have played a pivotal role in TPG’s success as a catalyst for growth, development and strategic direction. They have assisted in expanding TPG’s footprint to new regions across the globe; augmented and further professionalised the management team; developed internal processing capacity to take quality and reliability to even higher levels; and, contributed to sustainability by improving operations to highest quality environmental standards and maintaining stringent ISO certifications.
Synerlytic has entered into definitive agreements to exit WearCheck, its other subsidiary. Further details will be announced in due course as the transaction is subject to regulatory approvals.
Edward Pitsi, Co-Founder and CEO of Infinite Partners, said: “TPG is a great business with huge opportunities for growth and development ahead – I look forward to seeing what Raksha and her team achieve. We are proud of the advancements the business made under our stewardship.”
Raksha Naidoo, CEO of The Particle Group said: “This is a milestone step in the corporate history of TPG – we have a clear strategy to deliver growth immediately as a standalone entity. Finding the right partners for this step was of crucial importance to TPG, the leadership team, and all of our staff. Our journey with Infinite Partners has been fundamental in setting the business up for further success.”
Tabane Matheolane, Co-Founder & Partner of Infinite Partners, said: “Infinite Partner’s investment in TPG has proven to be highly rewarding. Working alongside TPG’s exceptional management team, led by Raksha Naidoo, we’ve effectively implemented our value creation strategy, positioning the company as a formidable player in the global CRM market and delivering significant returns for our investors. My heartfelt wishes go out to Raksha and her team as they embrace this exciting new chapter.”
