Medu Capital acquires Elite Truck Hire

Medu Capital acquires Elite Truck Hire

Medu Capital, a private-equity company focused on established medium-sized owner-managed businesses, has acquired 100-percent ownership of Elite Truck Hire.

Elite Truck Hire has provided short- and long-term truck hire, including Full Maintenance Leasing (FML) services, to the South African industry for over 25 years. The company services more than 150 customers with a fleet strength exceeding 1 200 vehicles.

Medu Capital executive Paul Moeketsi says: “Elite Truck Hire delivers high-quality products and services to its customers and has an experienced and successful management team. We have increased our initial 27-percent stake, acquired in 2007, to 100 percent, which we believe sends a clear signal of our confidence in the company and its management.”

Medu Capital invests locally and internationally sourced institutional capital in established medium-sized South African and African enterprises. The executive management team invests alongside its investors, and believes in partnering with various owner-managers in growing and developing the portfolio companies.

Byron Corcoran, the new MD of Elite Truck Hire, says that he is excited about the opportunity to lead the company, which is a successful business with a strong platform for growth.

“We chose to partner with Medu Capital because of its established track record and significant experience as a private equity investor in partnering owner-managed businesses,” he concludes.

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