Benchmark International is pleased to have advised Open Learning Holdings on the sale of their wholly-owned subsidiary, the Open Learning Group (Pty) Ltd, to Kagiso Capital (Pty) Ltd.
Open Learning Group (Pty) Ltd (OLG) is a private Higher Education institution specialising in distance learning educational programmes. Considered as the most affordable, effective , and flexible vehicle to achieve further education, distance learning opportunities are in high demand by both students and corporates wishing to upskill their staff. Higher Education and Training (HET) programmes offered by OLG range from NQF Level 2 to NQF Level 7, providing an extensive pipeline of programmes for students committed to bettering themselves and their career opportunities.
OLG and their subsidiary Business School of Excellence (Pty) Ltd also offer Technical Vocational and Educational Training (TVET) courses through learnerships, providing knowledge and skills for employment in a specific sector. These, together with Further Education and Training (FET) short learning certificate programmes, are offered in a blended approach, including distance learning, online learning, and contact sessions.
Lebogang Mosiane, the Chairman of OLG, commented on the transaction, saying, “Kagiso Trust since 1985 has invested in education, primarily being driven by its mission to eradicate poverty. Acquiring Open learning group simply provides a higher education articulation path curated for the needs of those who need the necessary skills to be active in the economy ”, while Jan Kitshoff added: “The acquisition of OLG by Kagiso Capital will provide them with a solid platform to expand their value offering within the broader education landscape.”
Kagiso Capital (Pty) Ltd is an investment holding company wholly owned by Kagiso Trust. The primary purpose of Kagiso Capital is to ensure the longevity of the Kagiso Trust and to diversify the investment asset base of the Trust beyond its current investments in FirstRand Limited, MMH Limited, Discovery Limited and Kagiso Tiso Holdings (Pty) Ltd. Kagiso Capital drives a diversification strategy through meaningful investment in innovative and growing businesses that are committed to economic transformation.
Lebogang Mosiane, speaking on behalf of Kagiso Capital, said, “We would like Open learning group to be the preeminent education platform, where future industries will come recruit talent that will add value to their businesses. We hope this will narrow inequality and transform South African industries to be competitive globally.”
Andre Bresler, representing Benchmark International’s South African office, added, “It was a genuine privilege to be selected to advise the shareholders of Open Learning Holdings (which includes institutional shareholder Old Mutual Life Assurance Company (SA) Ltd) on this transaction, the professionalism and attention to detail was outstanding throughout the process. We are delighted with the outcome for all parties and wish continued success as they embark on this exciting new chapter.”
Africa: Anthony McCardle at +27 21 300 2055 / McCardle@BenchmarkIntl.com
Americas: Sam Smoot at +1 (813) 898 2350 / Smoot@BenchmarkIntl.com
Europe: Michael Lawrie at +44 (0) 161 359 4400 / Lawrie@BenchmarkIntl.com
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