Inspired Evolution Investment Management has made a R51.8 million investment in South Africa’s EnviroServ Waste Management.
The investment will provide expansion capital to the company, which currently operates six hazardous waste landfills in Southern Africa. The private equity investor joins existing investor ABSA Capital Private Equity which backed the de-listing of EnviroServ from the Johannesburg Stock Exchange in 2008. Inspired Evolution has made the investment through its R700 million Evolution One Fund.
“This investment is completely aligned with the fund’s mandate to invest into leading commercially viable enterprises in Southern Africa where the deployment of clean technologies and related services can be accelerated,” said Campbell Barnes Inspired Evolution’s chief investment officer.
Established in 1979, EnviroServ has clients and operations located throughout the Southern African Development Community region and the Middle East.
“We believe that this investment also creates compelling new opportunities for preferential and strategic access to future EnviroServ transactions and acquisitions,” Barnes added.