Storex, a leading supplier of third-party maintenance for enterprise-sized organisations, has been acquired by Evernex, a leading international provider of third-party maintenance (TPM) services for data centre infrastructure. Evernex is a 3i company, having sold controlling interest to the investment organisation in October 2019.
Storex maintains data centre hardware and critical IT assets, such as servers, storage and business network equipment with multi-OEM expertise. Its level one B-BBEE status allows premium access to large South African corporates. Through its blue-chip clients, Storex serves banks, OEMs and telecommunications companies in South Africa, Kenya and Turkey, while also considering expansion into United Arab Emirates.
The acquisition gives Evernex a pool of local resources to grow its presence in South Africa, combined with the expertise of the Storex CEO and founder, Jan Beukes, who will remain with the business: “Both organisations have highly complementary capabilities and are well-regarded in the African market. It's a strong fit between two highly compatible businesses. We look forward to working closely with Evernex to build a strong international base.”
Stanislas Pilot, President and CEO, and Mohamed Bella, CMO and EVP MEA, Evernex, added: “We are delighted to be partnering with Storex. Combining our businesses will strengthen our position in eastern and southern Africa and enable us to grow our portfolio of blue-chip clients. Together with Storex, we aim to provide the best services to our customers, in South Africa and globally.”
Frédéric Chiche and Marc Ohayon from 3i France concluded: “Part of the rationale for investing in Evernex last year was to support its consolidation of the market and we believe this acquisition represents a material step towards creating a global market leader in the TPM space.”
3i invested in Evernex in October 2019. Headquartered in Paris, France, Evernex maintains over 200 000 IT systems in 160 countries and has a global network of 34 offices. It is the preferred maintenance partner for multinational companies and has developed a multi-channel and multi-vendor flexible offering. Going forward, additional bolt-on acquisitions are expected to remain a key value-creation driver for Evernex and 3i.
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Storex
Since 2008, Storex, a South African company, is a leading supplier of Third-Party Maintenance services. Storex is specialised in the multi-vendor support, maintenance and life-cycle extension of medium size and enterprise level IT hardware infrastructure. The company is a leading alternative support provider, and provides SLA services via a single point of contact, on top of datacentre value-added services, in South Africa, Kenya and Turkey.
For further information, please visit: www.storexsa.co.za
Evernex
Evernex is a French headquartered company, which specializes in the maintenance of global IT infrastructure and offers a comprehensive range of services from maintenance to Spare as a Service – SpaaS ™, as well as additional services such as recycling, secure data disposal, data center removal and relocation, library repair, IT hardware rental, and financial solutions.
Evernex offers services 24 hours a day, 7 days a week, at all customer sites worldwide to ensure business continuity and operational quality for users, all through a process of environment protection and sustainable development. Evernex carries out three-quarters of its service activities internationally and covers more than 160 countries across the world. The group has achieved a consolidated turnover of $205 million in 2019.
For further information, please visit: www.evernex.com
3i Group
3i is an investment company with two complementary businesses, Private Equity and Infrastructure, specialising in core investment markets in Northern Europe and North America. 3i’s Private Equity team provides investment solutions for growing companies, backing entrepreneurs and management teams of mid-market companies with an EV typically between €100m – €500m. We back international growth plans, providing access to our network and expertise to accelerate the growth of companies across the consumer, industrials and business and technology services industries.
For further information, please visit: www.3i.com
For further information, contact:
3i Group plc
Silvia Santoro
Investor enquiries
Tel: +44 20 7975 3258
Email: silvia.santoro@3i.com
Kathryn van der Kroft
Media enquiries
Tel: +44 20 7975 3021
Email: kathryn.vanderkroft@3i.com
Regulatory information
This transaction involved a recommendation of 3i Investments plc, advised by 3i France.