Kleoss Fund 1 receives go-ahead for Bandag deal
Posted on: 14 February, 2020 at 8:10 AM
South Africa’s Competition Commission has unconditionally approved the proposed merger whereby Kleoss Fund 1 intends to acquire Bandag.
Kleoss Capital is a 100% black-owned South African private equity investment manager.
Bandag is a Johannesburg-based manufacturer of tyre re-treading materials for commercial vehicles in southern Africa. Bandag manufactures pre-cured tread rubber which is applied on tyre cases for re-treading purposes. Bandag also manufactures small quantities of other products required for operations of re-treading and repairing tyres, such as extruder gum and cement.
Bandag sells its manufactured products to its network of franchisees, which use Bandag’s rubber products to re-tread tyres and produce a finished product and then sell these products to customers.
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