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Ethos pays R1.6bn for control of Eazi Group

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(iStock)
(iStock)

Johannesburg - Ethos Private Equity bought a 65% stake in South African equipment rental and sales company Eazi Group for R1.6bn in the fifth private-equity investment by its Ethos Fund VI in the past year.

At the Eazi Group “entrepreneurs identified a void in the market and through grit and determination established a new industry”, Shaun Zagnoev, a partner at Ethos, said in an emailed statement on Monday.

The Eazi Group started in 2003 and specialises in the sales, rental and servicing of so-called work-at-height industrial equipment, used to lift workers to perform tasks such as installing lighting and fixing overhead cabling. It has branches in most provinces and in neighbouring Namibia.

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