Vuna Partners announce the acquisition of SA Steelpack Solutions
Press release
November 2021
Vuna Partners announce the acquisition of SA Steelpack Solutions.
Vuna Partners Fund I (“the Fund”), the en commandite partnership managed by Vuna Partners Proprietary Limited (“Vuna Partners”), is pleased to announce the acquisition of SA Steelpack Solutions (“Steelpack”), a leading South African tinplate packaging manufacturer. Steelpack is the Fund’s second acquisition following the acquisition of logistics company 4PL Group late in 2020.
With a sophisticated production operation, assembly and decorative finishing plant in Tongaat, Kwa-Zulu Natal, supported by a smaller satellite distribution and storage facility in Gauteng, Steelpack supplies a premium product line of double-seam tin cans and pails, as well as three-piece seam-welded aerosol cans to a diverse customer base spanning the chemical, industrial coatings, cosmetics and speciality sectors.
“The acquisition represents significant growth prospects for Steelpack in terms of enhanced empowerment credentials, industry certification and increased production capacity”
Steelpack boasts consistent and impressive revenue growth due to heightened customer demand, matched by an increased production capacity, as well as faster, more flexible production cycles and innovative printing processes.
The Fund and Steelpack management acquired 100% of Steelpack from the incumbent shareholders, who have also served in an executive management capacity since the company's establishment in 2014.
“Bolstered by the prospect of highly experienced incoming stewardship, balanced by an energetic, dynamic management team, focused on robust manufacturing standards, Steelpack is primed to continue delivering quality products to its customers”
