Chemspec bought out in BEE deal

April 12, 2006

Private equity business in the FirstRand Group RMB Corvest and Tandem Capital today confirmed they will fund a R205-million management buy out (MBO) of Chemical Specialities (Chemspec), in addition to making a black economic-empowerment investment into the firm, which is one of South Africa's leading paint manufacturers...

Chemspec is the third largest paint manufacturer in South Africa, behind Plascon and Dulux.

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