Investment group Tamela Holdings has bought a 26% stake in engineering contracting company Roymec in a black economic-empowerment deal funded by Investec Bank.
Vusi Mahlangu and Sydney Mhlarhi, the founding management of listed mezzanine financing group, Makalani Holdings, also managed Tamela and would join Roymec’s board of directors.
“Their background in finance will assist us, in particular, in the financing aspects of some of our larger projects. As Vusi is an engineer by training, he also understands our industry,” Roymec MD Malcolm Royal commented.
Roymec, which provides turnkey bulk materials handling solutions primarily to the mining industry, is currently building one of the longest single flight overland belt conveyors in the southern hemisphere.
“Roymec, with its expertise in materials handling systems, particularly coal, is ideally positioned to continue to benefit from South Africa’s increased investment in power generation capacity. We look forward to a successful long-term relationship,” Mahlangu said.
miningweekly.com