Pan-African Commercial Ventures (PACV) acquires majority stake in C3 Shared Services
Acquisition will position security solutions company for international growth
By: Pan-African Commercial Ventures
Pan-African Commercial Ventures (Pty) Ltd now owns 51 percent of C3SS. The strategic acquisition was spearheaded by Dr. Iraj Abedian, PACV's chairman, the founder of Pan-African Capital Holdings and a former member of President Mbeki's Panel of Economic Advisors.
Through this acquisition, C3SS maintains a Level 2 Broad-Based Black Economic Empowerment (BBBEE) rating. The parties will work to ensure that C3SS complies with its socioeconomic responsibilities to ensure broader and more meaningful participation in the economy and to achieve sustainable development and business expansion.
"We are thrilled to be able to take a majority stake in a growing South African company that shares our principals of integrity, innovation and independence,"
Professor Tania Ajam, Associate Professor of Public Policy, Finance and Economics at the University of Stellenbosch School of Public Leadership, and Mr. Krish Naidoo, a veteran IT security professional, have joined the board of directors, effective January 1, 2020. Prof. Ajam will assume the role of chairperson. The new directors were added to the board for their unique professional perspectives and years of collective experience to help establish the C3SS's new strategic direction and ensure impeccable governance. Under the guidance of the new board, the company will expand its products and services, incorporating cyber security solutions and expanding C3SS's international footprint.
Furthermore, the parties intend to explore the establishment of an asset financing entity to work closely with C3SS as its funding collaborator to facilitate further market penetration by C3SS and unlock its full commercial potential.
About Pan-African Commercial Ventures (Pty) Ltd
Established in 2005, Pan-African Commercial Ventures (Pty) Ltd is a generalist private equity investor in small and medium enterprises with special focus on innovation, environmental protection, and holds a diverse portfolio of investments across industries such as agriculture and agro-processing, manufacturing, and the creative industries. PACV is a long-term investor focused on making strategic equity investments primarily in unlisted companies in South Africa and abroad.
About C3 Shared Services (Pty) Ltd
For more than 14 years, C3 Shared Services (Pty) Ltd has specialized in the design and implementation of intelligent video, fire and perimeter security solutions. C3 Shared Services has a history of providing high-tech integrated security and fire solutions to both the South African and African market. This new partnership provides an ideal platform for further innovation and service excellence. Learn more at www.c3ss.com.