The transaction enables the company’s management team to acquire 100% ownership of the business, strengthening operational control and positioning Isambane for its next phase of growth.
JOHANNESBURG, South Africa: Kholo Capital Mezzanine Debt Fund I (“Kholo Capital”) and Tensai Private Equity (“Tensai”) today announced the provision of R275 million in mezzanine debt funding to support the management buy-out (“MBO”) of Isambane Mining (“Isambane”), a leading mid-tier mining contractor in South Africa.
Isambane delivers comprehensive opencast mining services, including drilling, blasting, loading, hauling, rehabilitation and day-work services to blue-chip mining clients.
Founded in 2005, Isambane has developed into an established and reputable South African contract mining operator. The transaction enables the company’s management team to acquire 100% ownership of the business, strengthening operational control and positioning Isambane for its next phase of growth.
The R275 million mezzanine funding package comprises R200 million provided by Kholo Capital and R75 million provided by Tensai Private Equity.
The management consortium is led by Chairman Banzi Giyose, Chief Executive Officer Johan Venter and Chief Financial Officer Jorrie Jordaan and were advised by Bravura Capital.
Zaheer Cassim, Managing Partner and Founder of Kholo Capital, commented: “We are delighted to support Isambane’s accomplished and highly motivated management team in acquiring full ownership of this exceptional business. This transaction is a strong example of how structured mezzanine debt capital can enable management-led ownership transitions without unnecessary equity dilution, while providing the flexibility required to sustain growth and operational momentum. Isambane has built a high-quality, resilient platform underpinned by long-standing relationships with Tier-1 mining clients, strong cash flow generation, and a scalable operating model. The leadership team’s depth of experience—spanning more than 170 years across operations, engineering, safety and financial management—provides a solid foundation for continued execution and growth. This transaction also aligns ownership with those closest to the business, enhances black ownership and control, and positions Isambane to capitalise on opportunities in the mining services sector. We look forward to partnering with management as a long-term capital provider, supporting their strategic objectives and helping unlock further value in the business.”
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