Pictured Above: Adriaan Scheeres, Pragma Holdings CEO and Mametja Moshe, Moshe Capital CEO have signed a R50 million deal to boost diversity and transformation
R50 Million Deal With Black Women-Owned Firm Boosts Engineering Diversity And Industry Transformation, Brings International Opportunities
Tuesday, 28 February 2023: Black female owned private equity investor Moshe Capital has acquired a 20% stake in Pragma, which is an engineering services business that specialises in delivering enterprise asset management services and solutions. The R50 million deal was funded by FNB and takes black ownership of Pragma to 56.8%.
“Moshe Capital partners with African businesses that can compete internationally, so Pragma is an excellent fit for our investment portfolio of mining and related businesses that transform the sector and have potential for growth. It is a homegrown business with a global footprint including an office in Europe, representation in Latin America and partnerships in other geographies. As an active investor, Moshe Capital will add value to Pragma through our sector, strategy and finance expertise,” says Mametja Moshe, founder and CEO of Moshe Capital.
Pragma serves an asset-intensive client base. Founded in 1990, the engineering services business incorporates proprietary technology into operations to monitor the health of assets and more importantly, predict potential failures to act timeously and avoid downtime. Clients span the mining, manufacturing, public infrastructure, oil and gas and original equipment manufacturing sectors. Pragma’s clients include industry leaders such as Anglo, Syntagon and Shell.
“There is an urgent need to address the lack of maintenance and asset management in key industries and we believe that innovative thinking is a competitive advantage. In the male-dominated engineering field, we have seen first-hand how increased participation by women leads to greater innovation.
“Having a 100% black woman-owned investment partner in Moshe Capital boosts the transformation of our business in terms of black ownership. It is an added bonus that we gain access to a forward-thinking female leader with valuable advisory experience as well as expertise in sectors with good growth prospects,” says Adriaan Scheeres, Pragma Holdings CEO.
Both businesses share a commitment to inclusive prosperity. “Pragma’s software and technology systems add tremendous value to asset-intensive businesses and it offers training to boost asset and operational management,” says Moshe.
Pragma has a workforce of over 470 staff, of which 45% are women. There are 29 female engineers, of which 15 are black females.
“Transformation is important in the improvement of enterprise asset management for our clients and as a South African imperative. Pragma has also steadily worked towards transforming ownership and embracing diversity for over 25 years,” says Scheeres.
Another of Pragma’s investment partners is Reatile Group, a diverse investment holding company which covers the full value chain for several leading international companies. Reatile focuses specifically on expansion in the energy and petro-chemical industry.
About Pragma
Established in 1990, Pragma is an engineering services company that delivers enterprise asset management solutions geared for industry. It provides smart asset management solutions, specialised management practices and supporting software applications to a diverse asset-intensive client base in the mining, manufacturing, public infrastructure, retail and corporate facilities, renewables and oil and gas sectors to perform at their peak while balancing asset performance, cost and risk. Pragma’s offering is a blend of services – from consulting and business process outsourcing to condition monitoring and training. Passionate about innovation, the company continually invests in its suite of software products and related technologies. Headquartered in South Africa, Pragma has a global footprint with regional offices and representation in Europe and Mexico. Partnerships with various companies worldwide takes services into many more territories. www.pragmaworld.net
About Moshe Capital
Founded in 2013, Moshe Capital is a 100% black-women owned South African corporate finance advisory and investment company that works side by side with blue-chip clients, dynamic entrepreneurs and business owners, using its skills, networks and capital to promote profitability, growth and inclusive prosperity. Clients include publicly listed entities and private companies whilst investee companies are small to mid-cap companies in various sectors. Moshe Capital uses in-house research capabilities and its extensive networks in South Africa and internationally to identify attractive investment opportunities and execute its investments. www.moshecapital.com
Submitted by Turquoise PR & Marketing Communications
