South African private equity management firm, Ethos Private Equity, announced on January 27 2016, it sold out its entire interest in CQS Holdings to Adapt IT, an IT company listed on the South African stock market, JSE.

Back in October 2015, the company had already obtained all authorizations regarding CQS but Adapt IT had already announced it would acquire it for $16.6 million (R271 million).

Ethos Private Equity will be sharing this sum with Tascali Investment, a branch of Kapela Invetsment.

By acquiring these stakes, Adapt IT strengthens its position in the market of software sales directed towards financial services in Africa. CQS has in fact positioned itself as a niche investor and established in various growing markets such as Nigeria, Zimbabwe, Kenya, Tanzania and Zambia.

Ethos Private Equity for its part continues on its investing/selling trend in companies with high growth potential. In 2015, the firm sold its shares in Plumblink to South African Bidvest, did the same for its interests in JSE-listed Tansaction Capital. In terms of acquisitions, it acquired stakes in Eaton Towers, Neopak and most recently in Eazi Access, Africa’s market leader in the rental, sale and servicing of work-at-height and material handling solutions.

Idriss Linge