The challenge

AMSOL is a specialist marine services company that provides port, marine and integrated bunkering services to oil managers and refineries in the fuel logistics value chain. AMSOL employs approximately 680 people with a footprint across Southern Africa, including Namibia, Mozambique and Angola.

The company sought opportunities to grow its marine solutions footprint, remain relevant to its clients in the in the energy, mining, ports and maritime sectors and become a 100% South African owned company. AMSOL also wanted to create value for its employees and transform the maritime economy in South Africa by increasing its BEE status in a niche industry where barriers to entry remain high.

The RMB solution

RMB Ventures facilitated AMSOL’s buyout of SAM – a market leader in specialist marine solutions in the Southern African region. The buyout was done through a consortium comprising SAM management and employees, the Mineworkers Investment Company, Pan-African Capital Holdings and RMB Ventures. RMB Ventures furthermore facilitated the participation of permanent employees in a broad-based Employee Trust, which will own 12% of the company.

Proven results

By acquiring Netherlands-based SAM, AMSOL secured a 100% South African ownership and expanded its footprint through SAM’s marine businesses in Namibia and Mozambique.

AMSOL is the only marine solutions provider in the region, to date, that is employee and management owned, which is a catalyst for economic empowerment and shared value creation. The fact that AMSOL is majority black owned, and the participation of permanent employees in a broad-based Employee Trust ensures that when AMSOL excels, those who are at the coal face delivering value, will benefit.

AMSOL is now better placed than ever to continue meeting the needs of clients in the region well into the future, and to make a meaningful contribution to regional economic and investment integration.

This ensures that the business remains relevant in its chosen markets, which include Africa and the Indian Ocean Island region, and is able to continue to meet expectations of local and international clients who demand high safety, health, environmental protection and quality standards and a commitment to localisation.

The sale of the business to AMSOL is in line with a stated commitment by shareholders to capacitate the company over time and return it to 100% South African ownership.

Partner AMSOL
Deal value US$53.1-million
Sector Transport and logistics
RMB Ventures’ role Management buy-out

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