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METTLE MANAGERS BUY 51%

METROPOLITAN Capital, a subsidiary of Metropolitan Holdings, has facilitated a management buyout of financial solutions provider Mettle from Hosken Consolidated Investments for R1OOm.

Mettle CE Friedrich Esterhuyse said the deal would see Mettle management owning 51% and Metropolitan 49%.

“The deal will be funded partly by Mettle management and Metropolitan,” he said.

Metropolitan Capital was established last year to pursue investments for the group.

Mettle is an independent financial intermediary and has expanded its own proprietary lending businesses.

“The Mettle brand is well established in the industry. Through organic growth, management has succeeded in diversifying from a structured finance house to a broad-based financial services group. with a healthy balance of annuity and fee income,”. Metropolitan Capital director Peter Judge said.

Esterhuysé” said: “Management is confident the company is well positioned to capitalise on the wealth of opportunities in this exciting new era.”

Source: Business Day – Thabang Mokopanele