M&A – Connecting Capital

Pallidus is one of the leading Mergers and Acquisitions (M&A) and corporate finance teams in South Africa. We pride ourselves on ensuring our clients receive the best solution, advice and transactional implementation services. We have a distinctive, focused approach that is tailor-made to each client’s unique needs. Our strength is developing and delivering independent, innovative, integrated and intelligent solutions in a simple, effective manner.

Our multi-skilled team of professionals has many years of corporate finance and investment banking experience and has advised on many domestic and international transactions across a variety of sectors.

Pallidus is licensed as a sponsor of companies listed on the JSE and as a designated advisor to the JSE’s AltX Exchange. Pallidus is also licensed as issuer agent of the Cape Town Stock Exchange for equity and debt.

Our clients include domestic and multinational corporates, both listed and unlisted in a variety of sectors, including agriculture, construction, consumer services, engineering services, financial services, healthcare, industrials, insurance, information technology, processing & manufacturing, property, retail and logistics.

Our corporate finance advisory services include, but are not limited to:

Mergers, acquisitions and disposals
Capital requirements across all forms of equity and debt
Management and leveraged buy-outs

Stock exchange listings for equity and debt
Black economic empowerment transactions
General corporate finance activities

LIST OF SELECTED TRANSACTIONS - 2026

Our Client

SECTOR

PALLIDUS’ Role

TYPE

TERRITORY

Deal Size

Our Client

SECTOR

Information and Communication Technology

PALLIDUS’ Role

Acquisition of Balkans-based specialist cybersecurity distributor real security

TYPE

Sponsor Services

TERRITORY

Balkans

Deal Size

Undisclosed

Our Client

SECTOR

Industrial support services

PALLIDUS’ Role

Sole corporate finance advisor to SGS in respect of implementing an additional BEE transaction

TYPE

BEE Transaction

TERRITORY

South Africa

Deal Size

Undisclosed

Our Client

SECTOR

Information and Communication Technology

PALLIDUS’ Role

Acquisition of Networked assets by Logicalis Germany to establish a presence in Poland

TYPE

Sponsor Services

TERRITORY

Germany / Poland

Deal Size

Undisclosed

Our Client

SECTOR

Agriculture

PALLIDUS’ Role

Sponsor / issuer agent on disposal of Shiselweni business assets

TYPE

Sponsor Services

TERRITORY

South AFrica

Deal Size

R1 billion

Our Client

SECTOR

Information and Communication Technology

PALLIDUS’ Role

Scrip dividend reinvestment plan

TYPE

Sponsor Services

TERRITORY

South Africa

Deal Size

R531 million

Our Client

SECTOR

Technology

PALLIDUS’ Role

Investment advisor on sell-side M&A transaction

TYPE

M&A

TERRITORY

South Africa

Deal Size

Undisclosed

Our Client

SECTOR

Real Estate

PALLIDUS’ Role

Mandatory Offer to RMH Shareholders

TYPE

Transaction Advisor

TERRITORY

South Africa

Deal Size

R450 million

Our Client

SECTOR

Education

PALLIDUS’ Role

Investment adviser on debt and equity capital raises

TYPE

Capital Raise

TERRITORY

South Africa

Deal Size

R1.4 billion debt raise;
R274.2 million equity raise

Our Client

SECTOR

Logistics

PALLIDUS’ Role

Investment adviser on strategic exit to Kuehne + Nagel

TYPE

M&A

TERRITORY

South Africa

Deal Size

Undisclosed

Our Client

SECTOR

Transport & Logistics

PALLIDUS’ Role

Assisted Traxtion in raising the largest private investment in SA Freight Rail Hisotry

TYPE

Capital Raise

TERRITORY

South Africa

Deal Size

US$86.5m

LIST OF SELECTED TRANSACTIONS - 2025

Our Client

SECTOR

PALLIDUS’ Role

TYPE

TERRITORY

Deal Size

Our Client

SECTOR

Agriculture

PALLIDUS’ Role

Odd-lot Offer made to Odd-lot shareholders of BKB on the CTSE

TYPE

General Corporate Finance

TERRITORY

South Africa

Deal Size

Undisclosed

Our Client

SECTOR

Industrial

PALLIDUS’ Role

The introduction of a Broad-Based BEE Ownership trust

TYPE

BEE

TERRITORY

South Africa

Deal Size

Undisclosed

Our Client

SECTOR

Retail

PALLIDUS’ Role

Introduction of a new strategic shareholder

TYPE

M&A

TERRITORY

South Africa

Deal Size

Undisclosed

Our Client

SECTOR

Retail

PALLIDUS’ Role

Merger with a leading industry player

TYPE

M&A

TERRITORY

South Africa

Deal Size

Undisclosed

Our Client

SECTOR

Retail

PALLIDUS’ Role

Capital-raising transaction to enable the expansion of the business

TYPE

Capital Raising

TERRITORY

South Africa

Deal Size

Undisclosed

Our Client

SECTOR

Logistics

PALLIDUS’ Role

Founders disposal of 15% shareholding to Kuehne + Nagel

TYPE

M&A

TERRITORY

South Africa

Deal Size

Undisclosed

Our Client

SECTOR

Agriculture

PALLIDUS’ Role

Strategic Acquisition to facilitate vertical intergration

TYPE

M&A

TERRITORY

South Africa

Deal Size

Undisclosed

Our Client

SECTOR

Real Estate

PALLIDUS’ Role

Merger of various local and offshore holding structures for indirect interest in Atterbury Europe

TYPE

Restructure

TERRITORY

Europe

Deal Size

Undisclosed

Our Client

SECTOR

Real Estate

PALLIDUS’ Role

Capital raise for the funds to be deployed offshore for Atterbury Europe

TYPE

Capital Raising

TERRITORY

Europe

Deal Size

Undisclosed

Our Client

SECTOR

Agriculture

PALLIDUS’ Role

Disposal of non core division in the Group

TYPE

M&A

TERRITORY

South Africa

Deal Size

Undisclosed

Our Client

SECTOR

Transport & Logistics

PALLIDUS’ Role

Assisted Traxtion in raising capital to execute pipeline projects

TYPE

Capital Raising

TERRITORY

South Africa

Deal Size

Undisclosed

LIST OF SELECTED TRANSACTIONS - 2023

Our Client

SECTOR

PALLIDUS’ Role

TYPE

TERRITORY

Deal Size

Our Client

SECTOR

Financial Services

PALLIDUS’ Role

Arranger and Issuer Agent

TYPE

Inward Debt Listing

TERRITORY

South Africa & United Kingdom

Deal Size

R130 million

Our Client

SECTOR

Agriculture

PALLIDUS’ Role

Sole corporate finance advisor to BKB advising on the acquisition of assets within the agriculture sector

TYPE

M&A

TERRITORY

South Africa

Deal Size

Undisclosed

Our Client

SECTOR

Technology

PALLIDUS’ Role

Sole corporate finance advisor to CFS iro the introduction of a strategic investor

TYPE

M&A

TERRITORY

South Africa

Deal Size

Undisclosed

Our Client

SECTOR

Retail Services

PALLIDUS’ Role

Corporate finance transaction advisor to GP Retail to sufficiently empower its business

TYPE

Black Economic Empowerment

TERRITORY

South Africa

Deal Size

Undisclosed

Our Client

SECTOR

Agriculture

PALLIDUS’ Role

Sole corporate finance advisor to VKB and GWK iro their merger

TYPE

M&A

TERRITORY

South Africa

Deal Size

Undisclosed

Our Client

SECTOR

Logistics

PALLIDUS’ Role

Sole corporate finance advisor to Morgan Cargo iro the partial disposal to Kuehne + Nagel

TYPE

M&A

TERRITORY

South Africa

Deal Size

Undisclosed

Our Client

SECTOR

Real Estate

PALLIDUS’ Role

Corporate finance advisor for raising local and international capital

TYPE

Capital Raising

TERRITORY

Europe

Deal Size

Undisclosed

Our Client

SECTOR

Food manufacturer

PALLIDUS’ Role

Sole corporate finance advisor to Paul’s Muesli iro the disposal of shareholding to a black private equity fund

TYPE

Black Economic Empowerment

TERRITORY

South Africa

Deal Size

Undisclosed

Our Client

SECTOR

Healthcare

PALLIDUS’ Role

Sole corporate finance advisor to Spescare Holdings iro its disposal of Spescare to a strategic investor

TYPE

M&A

TERRITORY

South Africa

Deal Size

Undisclosed

LIST OF SELECTED TRANSACTIONS - 2022

Our Client

SECTOR

PALLIDUS’ Role

TYPE

TERRITORY

Deal Size

Our Client

SECTOR

Healthcare

PALLIDUS’ Role

Sole corporate finance advisor to MMHS in relation to the acquisition by Lenmed

TYPE

M&A

TERRITORY

South Africa

Deal Size

R600 million

Our Client

SECTOR

FMCG

PALLIDUS’ Role

Corporate finance transaction advisor to Premier sufficiently empowering the South African business

TYPE

Black Economic Empowerment

TERRITORY

South Africa

Deal Size

Undisclosed

Our Client

SECTOR

Information and Communication Technology

PALLIDUS’ Role

Corporate finance transaction advisor to Logicalis SA to sufficiently empower its business

TYPE

Black Economic Empowerment

TERRITORY

South Africa

Deal Size

Undisclosed

Our Client

SECTOR

Real Estate

PALLIDUS’ Role

Transaction sponsor to Heartwood in relation to the disposal of a non-core asset

TYPE

Disposal of asset

TERRITORY

South Africa

Deal Size

R60 million

Our Client

SECTOR

Automotive

PALLIDUS’ Role

Corporate finance transaction advisor in relation to the investment made by Palamo Fund Manager into GoBid

TYPE

Black Economic Empowerment

TERRITORY

South Africa

Deal Size

R194 million

Our Client

SECTOR

Healthcare

PALLIDUS’ Role

Sole corporate finance advisor to MMHS in relation to the acquisition by Lenmed

TYPE

Disposal of asset

TERRITORY

South Africa

Deal Size

Undisclosed

LIST OF SELECTED TRANSACTIONS - 2021

Our Client

SECTOR

PALLIDUS’ Role

TYPE

TERRITORY

Deal Size

Our Client

SECTOR

Agriculture and forestry

PALLIDUS’ Role

Sole corporate finance advisor to TWK Investments in respect of its listing on the Cape Town Stock Exchange

TYPE

Listing

TERRITORY

South Africa

Deal Size

R1.3 billion

Our Client

SECTOR

Agriculture and forestry

PALLIDUS’ Role

Sole corporate finance advisor to TWK Investments iro its delisting from ZAR X

TYPE

Delisting

TERRITORY

South Africa

Deal Size

R1.3 billion

Our Client

SECTOR

Mining services and engineering

PALLIDUS’ Role

South African corporate advisor iro DRA Global’s listing on the ASX and the JSE

TYPE

Listing

TERRITORY

South Africa

Deal Size

R2.3 billion

Our Client

SECTOR

Automotive

PALLIDUS’ Role

Sole corporate finance advisor to WeBuyCars in respect of a disposal of a further 26% stake to Transaction Capital

TYPE

M&A

TERRITORY

South Africa

Deal Size

R1.6 million

Our Client

SECTOR

Chemical services

PALLIDUS’ Role

Sole corporate finance advisor on the design and implementation of a staff share incentive scheme

TYPE

General Corporate Finance

TERRITORY

South Africa

Deal Size

Undisclosed

Our Client

SECTOR

Insurance

PALLIDUS’ Role

Sole corporate finance advisor to King Price, raising equity to fund their foreign expansion strategy

TYPE

Equity capital raising

TERRITORY

South Africa

Deal Size

Undisclosed

Our Client

SECTOR

Investment holding company

PALLIDUS’ Role

Arranger and bookrunner

TYPE

Investment holding company

TERRITORY

South Africa

Deal Size

Undisclosed

Our Client

SECTOR

Industrial support services

PALLIDUS’ Role

Sole corporate finance advisor to SGS iro implementing an additional BEE transaction

TYPE

Black Economic Empowerment

TERRITORY

South Africa

Deal Size

Undisclosed

Our Client

SECTOR

Mining services and engineering

PALLIDUS’ Role

Sole corporate finance advisor to DRA iro implementing a 51% BEE transaction

TYPE

Black Economic Empowerment

TERRITORY

South Africa

Deal Size

Undisclosed

Our Client

SECTOR

Industrial support services

PALLIDUS’ Role

Sole corporate finance advisor to Adcorp iro implementing a 35% BEE transaction

TYPE

Black Economic Empowerment

TERRITORY

South Africa

Deal Size

Undisclosed

Our Client

SECTOR

Packaging

PALLIDUS’ Role

Sole corporate finance advisor to Houers iro implementing a 51% BEE transaction

TYPE

Black Economic Empowerment

TERRITORY

South Africa

Deal Size

Undisclosed

WBC commends Pallidus for the support it had rendered in navigating structural and contractual agreements where their professionalism and integrity, knowledge, experience, and expertise proofed vital to our success in moving us forward to accomplish great things. Pallidus is a mindful organization that brings clarity, integrity, and insight to the table in an invigorating and innovative way that inforces our strategic thinking and pioneering spirit. Their support and insight make us strong and give us confidence and peace of mind to traverse challenging obstacles as we breach our horizons. We are proud to associate with Pallidus, it is a pleasure to form part of their greater network of dynamic leaders and professional teams.

The Pallidus team have played a fundamental role in DRA’s growth strategy. Always professional and entrepreneurial in their approach, they deliver a rare combination of technical expertise and big picture thinking. It has been a pleasure working with Pallidus for the past several years and we look forward to continuing the relationship.

In a rapid changing world, a company with growth prospects like TWK, needs business partners that understand the unique demands of the organisation. Our business partner and corporate advisor, Pallidus, played a key role in the listing on the CTSE. TWK is positive about the move and expect that the desired outcomes will be achieved. The secondary listing on A2X will most definitely support the growth prospects of TWK.”

Pallidus has been Kanton’s corporate adviser since Kanton’s inception and, as planned, later also became our capital-raising partner. They understand Kanton’s purpose: to build living spaces for Afrikaans through a partnership between culture and capital, and they have bought into what we aim to achieve with conviction. At the same time, they consistently maintain the objectivity and professional discipline required to challenge us and prepare us for the work at hand. Shared values such as a commitment to excellence, hard work and integrity are the cement that binds everything together. It is this combination of buy-in, objectivity, professionalism and shared values that makes Pallidus a long-term strategic partner.

Traxtion’s relationship with Pallidus continues to be an institutionally impactful, trust-based partnership. Pallidus was instrumental in enabling Traxtion to execute a highly complex, multi-party capital raise in support of our long-term growth strategy. Their ability to engage with multiple institutional investors, provide clear structuring guidance, and coordinate a rigorous due diligence and execution process while remaining flexible and solution-oriented across numerous hurdles ensured that the transaction was delivered efficiently and with strong alignment across all stakeholders. Pallidus’ support has been essential in turning a bold growth vision into a funded reality, and in positioning Traxtion to deliver a meaningful impact on the country’s logistics landscape.

For us, sustainable value creation begins with the primary producer - but we also recognise that the entire value chain must be healthy for agriculture and the food sector to thrive. Every decision we make is aimed at strengthening long-term stability across that chain. To achieve this, we rely on partners like Pallidus who understand value optimisation, help reduce uncertainty, and support timely, well-informed decisions. Through this transaction, we were able to unlock meaningful strategic value in a way that reinforces both our business and the broader wine industry in the Northern Cape.

The team at Pallidus provided me with amazing hands-on guidance from the start of the process through to closing. Not having any previous experience in a transaction of this nature, I was unaware of the complexity, tremendous amount of time and expertise required to prepare and negotiate a strong offer, finalize the due diligence process, and drive the process through to legal agreements and closing. Pallidus assisted us in achieving a highly successful transaction.

Should you require our unique set of skills or experience.

Our corporate finance advisory services include, but are not limited to:

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