The Carlyle Group and Old Mutual Private Equity to Acquire 100 Percent of Tiger Automotive (Sub-Saharan Africa)

Source: The Carlyle Group, Financial Times | Author(s): Andrew England

Global alternative asset manager The Carlyle Group and South-Africa focused private equity fund manager Old Mutual Private Equity have agreed to acquire 100 percent of South Africa-based tire retailer and wholesaler Tiger Automotive from Ethos Private Equity and the company’s founders for a reported ZAR2 billion (approximately US$182 million). Funding for the investment will come from the Carlyle Sub-Saharan Africa Fund and Old Mutual Private Equity Fund IV. The transaction, which is subject to regulatory approval, is expected to close in early 2015.