Capitalworks Backs South Africa-based Much Asphalt (Sub-Saharan Africa)

Source: Capitalworks

South Africa-based alternative asset management firm Capitalworks has led a consortium of investors to acquire a 100 percent stake in Much Asphalt, a South Africa-based supplier of hot mix asphalt to the construction industry. The consortium, which includes Mineworkers Investment Company (MIC) and senior executives of Much Asphalt, purchased the stake from engineering, contracting and construction services company Murray & Roberts. Much Asphalt will continue its existing strategy of providing a range of asphalt products to the construction industry.