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Ethos buys Tiger Automotive
Ethos Private Equity has bought JSE-listed Tiger Automotive, a retail and wholesale after-market wheel and tyre company, in a public-to-private deal.
The takeover was agreed at R17,51 (90p) for each share, which has valued the company at some R1.5 billion (£93 million).
Ethos appointed Deloitte Corporate Finance to manage financial and IT due diligence reviews of Tiger’s business.
Deloitte’s team was led by partner Karin Hodson, who said the firm has a long-standing relationship with Ethos. “However, this was our first due diligence engagement for the company.”
Tiger is the holding company of Tiger Automotive’s former wheel and tyre retail and wholesale operations in South Africa and the UK.
Deloitte, one of South Africa’s leading professional services firms, provides audit, tax, consulting and financial advisory services through nearly 3,600 people in eight cities in South Africa and 16 cities in Southern Africa. Deloitte is the South African member firm of Deloitte Touche Tohmatsu
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