Growth Capital Partners is pleased to announce that it concluded an investment into SteelBond (Pty) Ltd (“Steelbond”) effective 1 May 2022.
Established in 1962, Steelbond (previously Handy Shoe Dyes and Adhesives Manufacturing Company (Pty) Ltd) is a niche South African adhesives manufacturer and supplier. This family run business has been operating successfully for many decades and, with its extensive manufacturing abilities, has built a reputation as a low cost, high quality producer in its chosen markets. Over the past 15 years the business has focused on becoming a leading manufacturer of contact adhesives targeted at the footwear and footwear repair segment.
Growth Capital Partners provided the capital for the founding shareholders to exit from the business and through a combination of equity and mezzanine funding, structured a transaction alongside the key executives which resulted in the management team acquiring a meaningful equity stake.
