Media And News

Legacy Africa Capital Partners invests in Continuous Power Africa to accelerate its growth

South African private equity firm Legacy Africa Capital Partners (LACP) has announced an investment in Continuous Power Africa (CPA), a provider of power and monitoring solutions to the mobile telecommunications industry.

The funding will accelerate CPA’s growth at a time when telecommunications companies in South Africa and elsewhere on the continent are seeking innovative solutions to ongoing power challenges.

CPA develops and supplies back up and hybrid power solutions and products to mobile telecommunication tower sites across Africa. Whether helping customers maintain remote battery packs or providing large-scale long-term distributed power solutions, CPA enables reliable communications for millions of Africans.

CPA site asset management services and technology significantly reduce diesel fuel use at weak-grid and off-grid telecommunication sites, thereby delivering considerable savings to carriers, and reducing risk through the management of power system hardware and software. The company’s offerings also eliminate the cost of early battery replacement through predictive test, recovery, and management solutions to ensure that batteries reach their full term of life.

CPA’s brands include Inala and IQM, while it counts Vodacom, IHS Towers, American Tower Corporation (ATC) Africa, Mantrac and Telkom SA among its customers.

LACP, as the general partner of Legacy Africa Capital Partners Fund I, will make an investment for a significant minority stake in the business to facilitate CPA’s expansion into new markets across sub-Saharan Africa and growth in product and service offerings.

LACP will join existing investors in CPA, including South African entrepreneurs Duncan Hipkin and Simon Hipkin, and Pine Creek Renewables, a US-based asset developer and permanent capital vehicle that invests in low-carbon technology companies globally.

Kgosi Monametsi, Managing Director and Head of Private Equity at Legacy Africa said: “We are delighted to partner with Pine Creek and the strong management team at CPA. We were particularly attracted to CPA because of its innovative products and services as well as its potential to be a leading pan African business.”

Varun Giridhar, CEO of CPA commented: “We are excited about unlocking the true growth potential of the company with this investment from LACP. We strongly believe that Kgosi and his team will bring high quality insights of strategic value as directors on the board. And we look forward to this next phase of CPA’s journey as a technology leader enabling the transition of the telecommunications sector into the new low-carbon economy.”

About Continuous Power Africa

Continuous Power Africa South Africa and Continuous Power Africa Mauritius (collectively CPA) provide power solutions to the telecommunications industry. CPA is an original equipment manufacturer and power solutions specialist whose brands include Inala and IQM. Its primary focus is on power solutions for the mobile telecommunications industry in sub-Saharan Africa and South Asia, and its customers include Vodacom, IHS Towers, American Tower Corporation (ATC) Africa, Mantrac and Telkom SA.

www.continuouspower-africa.com

About Legacy Africa Capital Partners

Legacy Africa Capital Partners (LACP) was founded in September 2018 and is a private equity fund management business. LACP is the manager of Legacy Africa Capital Partners Fund I and is part of Legacy Africa Fund Managers. LACP is a 100% black-owned and managed company comprising a team of deal principals with a long history of private equity investing. The firm seeks to provide capital to entrepreneurial, unlisted companies seeking expansion or buy-out capital to introduce black shareholding to drive growth. The LACP Fund I has a diverse portfolio of investments including Lonsa Everite, Penflex and TQ Group.

www.legacyafrica.co.za

For enquiries contact Kgosi Monametsi at kgosi@legacyafrica.co.za