JAYCOR sells 53 per cent stake to black owned equity firms
Mon, 10 Jul 2017 11:46
JAYCOR International, provider of specialised cables, connectors, infrastructure and related active components, has announced the introduction of new investors, Moshe Capital, and follow-on investment by Sanari Capital in a transaction that facilitates over 51 per cent black ownership and more than 30 per cent black women ownership in the company. JAYCOR founders and executive directors hold the remaining stake.
The transaction paves the way for sustainable and inclusive growth, and economic transformation for the business, the staff and shareholders.
Founded by Jeff Pokroy in 1987, JAYCOR celebrates its thirtieth anniversary this year. From humble beginnings and a family legacy in the cables and connector industry that dates back to 1954 and now spans three generations of the Pokroy family, the JAYCOR team has taken a leap forward, expanding its team, its offering and its investor base.
Mametja Moshe, CEO of Moshe Capital, said: We are very pleased with our partnership with JAYCOR as we believe it is a remarkable niche market player in the cabling industry and also has long standing business that spans over three decades. Our team was attracted to JAYCOR management teams experience and vision as well as the companys international distribution partners which gives us both an urge to explore further opportunities in the information technology sector and transport. We look forward to unlocking value and growing together to become a global cabling player of reference.
The equity deal also cements a long-standing partnership with Sanari Capital, whose strategic investment and involvement at JAYCOR over the past few years has helped set the company on a new and accelerated growth trajectory. Sanari Capital principal, Moushmi Patel, said: In JAYCOR, we continue to see tremendous potential to tap into the growth of the Connected Enterprise, automation and Industry 4.0. We have been extremely pleased with our investment to date and managements creative avenues to unlock new growth opportunities in a traditional industry, not the least of which is its smart e-commerce platform.
Jeff Pokroy, managing director of JAYCOR said: We thank and acknowledge all our staff involved in making this a reality and welcome our new partners in the business. JAYCOR is a proudly South African business and is deeply committed to B-BBEE, economic growth, social and skills development for the benefit of all. For three decades in business we have supported communities and families inside and outside of our organisation. The empowerment transaction further affirms JAYCORs commitment to inclusive ownership and transformation. The JAYCOR family is becoming bigger and more diverse.