Company Announcement - Proconics, one of South Africa’s leading electrical, instrumentation and control engineering firms, has concluded a deal that sees a relative new comer to the South African private equity space, Dlondlobala Capital, take up 26% ownership in the company. This agreement blends the rich financial expertise of Dlondlobala Capital with the impressive engineering track record of Proconics and places the organisation firmly on the map of transformed 21st century South African companies.

“Proconics is committed to meeting the compliance and legislative requirements as laid out by the government’s B-BBEE requirements. As a transformed and inclusive company, representative of all South Africans, Proconics will be more sustainable, robust and collaborative. This will further strengthen the platform that is driving Proconics’ growth, and allow us to bring our unique service offering to new industries,” says Melvin Jones, CEO of Proconics. “Dlondlobala Capital brings together some of South Africa’s most impressive financial minds, with a rich history and skill set. This partnership provides both organisations with significant opportunities for growth.”

Proconics has been in the industry for over 19 years and has an illustrious list of clients across South Africa, the rest of Africa, Europe and Australia. It has invited Dlondlobala Capital to take on the 26% shareholding, and together the parties are confident they can propel growth into several new sectors. “Our goal is to achieve a rich and diverse organisation that allows for the growth and development of everyone who joins us,” says Jones. “This is one step towards that future and we are extremely excited about the value that Dlondlobala Capital brings to our business.”

Dlondlobala Capital is committed to generating sustainable income for the future and its partners have worked with South Africans for over 20 years to make a difference to the lives of others. It is headed by some of the leading lights of the financial services industry with JJ Njeke as Chairman and co-founder, supported by directors Professor Wiseman Nkuhlu, Chairman of Rothschild South Africa and Zanele Matlala, Chief Executive Officer of Merafe Resources Limited. Professor Wiseman Nkuhlu has replaced Mr. Roland Matthysen as chairman of the Proconics board. Mrs. Fundiswa Roji-Maplanka, the managing director at Dlondlobala Capital and former director of Kagiso Ventures, has been appointed as a new non-executive director to further strengthen the current Proconics board.

JJ Njeke, the Chairman of Dlondlobala Capital said : “ As Dlondlabala Capital, we are very excited about the opportunity of becoming involved in the further development of Proconics, a company with such specialised engineering skills. We believe that the partnership with the founder, Roland Matthysen, the current management team and ourselves will take Proconics on a new growth path”.