Terracor

Terracor Trading (Pty) Ltd

Growth Capital Partners is pleased to announce that it concluded an investment into Terracor Trading (Pty) Ltd, a newly formed entity that acquired 100% of the businesses of Terracor (Pty) Ltd with effect from 1 October 2024.

Established in 2009 by Jason Lotter, and brothers Allan Maskew and Darryl Maskew, Terracor specialises in the manufacture of both plastic and steel core trays and racking systems for the geological, mining and exploration drilling industries. The Company also supplies an extensive range of related accessories and geological equipment, such as core blocks and chip trays.

Growth Capital Partners provided the equity capital for the founding shareholders to realise full value for a portion of their shareholding in Terracor, thereby providing them the opportunity to diversify and externalise a portion of their wealth.

We initially planned for a full exit from the business, but after meeting the team from Growth Capital Partners and learning about the co-investors they brought on board, we quickly changed course. Their vision for future growth and returns was something we didn’t want to miss out on. It’s remarkable how seamlessly we’ve connected with the team—it feels like this partnership was always meant to be.

Jason Lotter

Terracor is the sole core tray manufacturer in South Africa producing both plastic and steel core trays, with a well-established brand recognized across the African region. Over the past decade, the company has demonstrated impressive growth, and we see significant potential to further accelerate this trajectory. By building on the strong foundation established by its founders, there are opportunities to expand with existing products and explore new markets and offerings.

Graham Allin, an Executive at Growth Capital Partners

We partnered with Justin Mills, a geologist with extensive business experience in Africa, and the Bamboo Rock Drilling Group to co-invest in this deal. Justin brings invaluable contacts and expertise, while Bamboo offers strategic industry insights and access to their well-established network across the continent. Alongside the founding shareholders, we are confident we have assembled the right team to achieve all of our growth ambitions.

Tim Page of Growth Capital Partners