Aurex Constructors

Client Challenge

Aurex Constructors is focused on the future of the construction industry in South Africa in the energy sector, including Green Energy, Renewables, Conventional Power, Oil and Gas, and Sustainable Energy. They have a solid reputation for providing quality end-to-end construction, turnaround, and maintenance solutions.

The Aurex management team entered into an MBO in 2020 and embarked on growing the business. Management realized they required a shareholder of reference in order to raise larger facilities which can unlock opportunities that they were presented with but could not yet participate in. Aurex also needed 51% BEE shareholding in order to bid on the largest contracts in this sector.

RMB Ventures Solution

RMB Ventures was able to provide an innovative solution in a complex deal to unlock the facilities required. Energy and construction are challenging sectors, and RMB Ventures has the necessary sector expertise to arrange access to facilities. RMB Ventures is known for its ability to unlock full potential.

In addition, RMB Ventures could provide the “shareholder of reference” credentials that Aurex needed in order to raise large scale finance for the top renewables projects in the renewables sector.

For the 51% BEE shareholding, RMB Ventures suggested Bopa Moruo as a good fit and proposed the right BEE structure.

There was also a values match – the Aurex values are very similar to the RMB values. “We are like-minded people.”

Client Benefit

Aurex is now positioned to participate in the largest renewable energy projects in South Africa, such as the Scatec solar array project in the Northern Cape. Aurex can also pivot further into the green energy and renewables space, as well as expand internationally.

Through its strategic equity partnership with RMB Ventures and Bopa Moruo, Aurex has strengthened its company B-BBEE position, with 51% black ownership. The partnership allows Aurex to leverage the extensive networks and expertise of RMB Ventures and Bopa Moruo, increasing its market reach in South Africa, and into international markets.

Furthermore, the partnership grants Aurex access to additional financial resources and growth opportunities, empowering the company to broaden its capabilities and achieve new levels of success.

Says Stuart Kent, CEO of Aurex: “As strategic shareholders, the RMB Ventures and Bopa Moruo consortium will provide greater depth to the equity structure of our Aurex group of companies. This will lead to a more diverse contribution at Board level, providing additional strategic input to our company and bolstering our reputation and credibility.”