JMP HOLDINGS (PTY) LTD

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Growth Capital Partners is pleased to announce that it concluded an investment into JMP Holdings (Pty) Ltd (“JMP Group”) which includes the businesses of John Moffat Prolock (Pty) Ltd (“JMP”) and its wholly owned subsidiary, Natal Gaskets (Pty) Ltd, in March 2019.

The JMP Group specializes in the manufacture of rubber sheeting, industrial sponge products, gaskets, metal sheeting and shims, and acoustic and thermal insulation products. These products are sold into Southern Africa and abroad.

The Group operates out of industrial premises in Robertsham, Johannesburg and Amanzimtoti, Durban. It has agents in all major centres and can service a wide range of customers countrywide.
The primary industries serviced by the JMP Group are automotive, building and construction, and packaging.

Considering their age, as well as the pressure to transform the ownership of the company and improve their B-BBEE scorecard, the shareholders were desirous of selling their shareholding and realising full value for their investment.

Growth Capital Partners provided the capital for the shareholders to fully exit from the business and further provided the capital for a key black individual in the industry to acquire a meaningful shareholding, alongside management. The transaction structure resulted in JMP achieving a level 4 B-BBEE status and Natal Gaskets achieving a level 2, enabling the company to retain their key customers and also attract new key customers.

With Growth Capital Partners coming onboard it has assisted us in significantly improving our B-BBEE rating, which is critical in some of the industries we operate in. They further facilitated the buy-in of management. Their business experience and strategic insights have already assisted us in repositioning our business for the future. We are bullish about the cross-selling opportunities that exist within the Growth Capital Partners stable and are confident that we have the right partner to help drive success.

Christo Rootman, MD of JMP

We are very excited to be associated with the JMP Group, an established business with over 20 years’ experience in the industrial gasket, rubber and sponge industry. The Group has an excellent reputation in the market for customer service and reliability. The investment allows us the opportunity to cross-sell their diverse product range into our existing portfolio.

Tim Page, an Executive of Growth Capital Partners

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