SkyNet’s operations in South Africa, Namibia, Mozambique, the UK, Belgium and Germany have been acquired by the South African management team together with RMB Ventures (RMBV) an on balance sheet long private equity investor and a subsidiary of FirstRand Bank, Bopa Moruo Private Equity and New GX Capital Holdings.
Tommy Erasmus, CEO of SkyNet South Africa, states: “In an economy currently characterised by downscaling and international acquisitions of South African companies, this is an exciting chapter in the South African courier industry. This will be a South African run company expanding its global footprint and control as a first phase of a multiple acquisition strategy that will rapidly see further expansion into key strategic areas across the globe.”
SkyNet is a South African homegrown company which operates in more than 170 countries.
SkyNet has a long history in the South African courier express parcel industry (CEP). It was one of the first companies to adopt the owner-driver concept, assisting its employees to transition into small business owners, while pursuing BBBEE as a moral imperative.
Says Erasmus: “We shall remain Proudly South African and continue to encourage the entrepreneurial culture, which we intend bringing to the global stage.
“SkyNet’s market share is significant within the European countries where we operate. We are notable players within the e-commerce space where several of the largest global e-tailers are currently serviced by SkyNet. The efficiencies we realise from this scale will provide further cost-effective opportunities to our clients internationally. The combined offering resulting from the acquisition makes SkyNet a global player of scale while retaining the high levels of innovation and agility which are core to our operations. Our ambition is to become the gamechanger of the CEP market.”
The strong growth of e-commerce throughout the Covid-19 pandemic was the primary driver for SkyNet’s global acquisition strategy. Global markets are becoming increasingly accessible to even small brands.
“We intend to be an extension of our client’s growth plans in this new environment. While e-commerce remains our primary focus, our core strengths, technologies, and skills are as applicable in other industries. We are currently looking at healthcare and secured services which are major verticals in the South African economy. SkyNet has collaborated with the likes of Fidelity Security Services (including ADT Security) to provide solutions that ensure the safe and timeous delivery of valuable goods.
“These pursuits are enabled by our agile inhouse IT development team allowing for solutions tailormade to client’s operational requirements. SkyNet clients don’t endure the frustration of waiting for the development of IT solutions governed by strenuous international priorities within development houses situated abroad. SkyNet clients deserve world class service suited to their tailored needs and timetable – and now they will have it,” says Erasmus.
“Our new shareholders all have gravitas in their respective areas of business. This will add a new dimension to the leadership core of SkyNet. RMBV is well known as a leading African corporate and investment bank and part of one of the largest financial services groups (by market capitalisation) in Africa – FirstRand Limited. Bopa Moruo is a mid-market private equity firm focused on generating long-term capital appreciation by building great businesses. New GX is a black-owned and controlled investment company formed on strong entrepreneurial principles.”