Imbewu Capital has acquired a 30 percent stake in Icon Construction for an undisclosed amount.
This is the tenth deal for the black-owned and -controlled private equity and investment company launched five years ago.
The transaction was funded by both internal cash resources and capital raised from the debt market. Gcina Zondi, the chief executive at Imbewu Capital, said yesterday that Icon was a well-run business that could tap into many opportunities. - Slindile Khanyile