Robertson and Caine to be acquired by Vox Ventures

Robertson and Caine to be acquired by Vox Ventures © Robertson and Caine

Robertson and Caine, South Africa's leading boat builder which designs and manufactures sailing and power catamarans for the export market under its Leopard brand, is pleased to announce that founder and significant shareholder John Robertson together with the current private equity shareholders, Capitalworks, have entered into an agreement for the sale of Robertson and Caine to Vox Ventures.

Vox Ventures is a wholly owned subsidiary of PPF, a leading investment firm in Europe with its roots in the Czech Republic. PPF is active across a wide range of sectors with investments spanning financial services, telecommunications, media, biotechnology, real estate, mobility and e-commerce, across Europe, Asia and North America. The sale, which is expected to close in the second quarter of this year, is subject to the fulfilment of certain conditions including requisite regulatory approvals.

Once concluded, this transaction would represent one of the most significant foreign direct investments in the marine industry in South Africa, demonstrating significant confidence in the Blue Oceans economy in the Western Cape and the South African Government's Oceans Economy Master Plan.

Robertson and Caine Co-founder, John Robertson commented, "After more than 40 years in the boat business and 32 years with Robertson and Caine, I am pleased to leave Robertson and Caine, our valued One R&C team members and our longstanding customer Travelopia in the hands of new shareholders of such stature. Finding like-minded shareholders who are committed to and focused on continuing to build Robertson and Caine and the Leopard brand as a key part of its growing marine industry presence globally, was of critical importance to me. Although it is a bittersweet moment, I feel confident that the legacy will continue to grow from strength to strength and that the business will be in the best hands."

Didier Stoessel, Chief Investment Officer (CIO) of PPF Group commented: "PPF is pleased to have agreed this transaction with Robertson and Caine's founder and shareholders, who have achieved much success in building the Leopard brand. The quality of workmanship, skills and expertise of South African boatbuilders has attracted our investment. We are looking forward to working with the company's exceptional management team and employees to smoothly transition ownership and further build on the excellence the company has delivered over its more than 30-year history."

Theo Loock, Managing Director of Robertson and Caine commented "The Robertson and Caine team want to thank John Robertson and his family for the opportunity to be part of such an exciting business and for the honour of being associated with the Leopard brand all over the world. It is extremely pleasing to see that global investors like PPF are excited about the opportunities for South Africa in the marine industry. We look forward to the conclusion of the required regulatory processes and a smooth transition to the new shareholders. The management team is excited to work with the new shareholder to design Robertson and Caine's next 30 years and the strategic path to achieve it."

Darshan Daya, Co-founder of Capitalworks commented "Capitalworks has been privileged to partner with John Robertson and the world-class team at Robertson and Caine in building a globally competitive business. The transition of ownership to a strategic long-term shareholder, offers exciting new opportunities for the business to leverage PPF's significant manufacturing and technical expertise to continue to grow and develop the Leopard brand."