Broadreach Private Equity, a subsidiary of Broadreach Capital, is a specialist mid-market private equity investor, focusing on providing growth capital to businesses where it sees the potential for significant expansion.
From left to right: Rick Basson - Executive Director Broadreach Private Equity; Cecil Meyer - Projects Director FS-Systems; Carlo Klopper - Managing Director FS-Systems.
"Broadreach is excited by the significant demand we see for FS-Systems’ products and services, particularly in the fields of advanced video surveillance and workforce management where market growth rates are forecasted to exceed 20% per annum. FS-Systems also has had noticeable success in expanding its services outside of South Africa, with cutting edge installations being completed in Latin America and the rest of Africa. These factors, together with their strong reputation and significant market share within the South African market, were a major attraction for us,” says Rick Basson, Executive Director of Broadreach Private Equity.
Carlo Klopper, the Managing Director of FS-Systems says, “We are impressed by Broadreach Private Equity's substantial expertise in helping mid-market technology businesses grow, and their solid M&A experience. We consider Broadreach the ideal partner to assist us in pursuing our growth agenda and in developing further value-adding solutions for our clients. We are fascinated by the way that the power of the Internet of Things is changing the electronic security and safety industry, and with Broadreach on board we will continue to develop the expertise required to position ourselves as leaders in smart and secure cities. Broadreach has recognised the sound expertise of our team and we look forward to welcoming them to the next chapter for FS-Systems, which will see us build on our 45 years of success.”
Basson further states, "We are convinced that introducing a strong and supportive financial partner to FS-Systems will enable it to continue expanding its business as strongly as it has done over the last five years. Of critical importance to us is that Carlo Klopper, Managing Director and Cecil Meyer, Projects Director have material equity stakes alongside Broadreach and we look forward to partnering with them to develop FS-Systems into a diversified technology services group."
Leo Slootmans, outgoing CEO, states, "It has been an incredible 25 years with FS-Systems. I have full faith in the management and Broadreach Private Equity’s ability to build on FS-Systems’ legacy as a major player in the electronic security space and I wish Carlo, Cecil and the team all the best."
Broadreach Private Equity and FS-Systems' senior management will now jointly control FS-Systems, resulting in a blend of industry experience, operational capability, strategic input and financial resources at a shareholder level.