TURRITO

TURRITO NETWORKS (PTY) LTD

Growth Capital Partners would like to announce that it has concluded an investment into Turrito Networks (Pty) Ltd (“Turrito”). The transaction was completed in May 2020.

Turrito is an aggregator of every Tier1 telecommunication network in South Africa and Africa, capable of delivery of all networks, and all solutions, from a single provider. Customers enjoy open access to every connectivity network, hosting facility, cloud solution and related telecommunication service from a single provider. As a significant partner to the major network providers throughout South Africa, Turrito is able to deliver vast economies of scale and competitive pricing through to customers.

The primary industries serviced by Turrito are ICT, professional services, manufacturing, engineering, packaging, and education.

Turrito operates out of premises in Ferndale, Johannesburg and Woodstock, Cape Town. It primarily services clients in Johannesburg, Cape Town and Durban, but is able to service a wide range of customers countrywide, through its national network of partners.

Growth Capital Partners provided the funding and transaction structure that facilitated the Management Buy-Out from Turrito’s listed holding company. The transaction structure further enabled the executive management team to increase its shareholding in the business while maintaining its strong B-BBEE rating.

We’re delighted to embark on this journey with Growth Capital Partners as we believe that together we have the makings of a formidable partnership; one that will result in the exponential growth of our business.

Brian Timperley, CEO of Turrito.

We are really pleased with this investment in Turrito as we believe that our network will unlock significant value for the business. In these uncertain times, we see the business being well placed to weather the storm, and to potentially benefit from it. The management team are vastly experienced and highly motivated to take the business to the next level. We look forward to developing a strong partnership with the management team and to growing the business together.

Tim Page, an Executive of Growth Capital Partners

The speed and efficiency with which Growth Capital Partners was able to conclude the transaction is a good example of their agility and ability to make quick decisions. This is important in today’s changing world and almost critical in our type of business. Our customers (rightly) demand that we stay at the cutting edge and agility is crucial. Their network brings opportunities we would not otherwise have had access to, and we are looking forward to unlocking significant value in the partnership. We have also been able to maintain our strong B-BBEE credentials, which was important to the businesses. A new and exciting journey awaits us, and we are confident Growth Capital Partners is the right partner for the next phase of our journey.

Colin Thornton, CFO of Turrito