DLA Piper advises Kleoss Capital on acquiring Surgical Devices South Africa

DLA Piper has advised a consortium comprised of Kleoss Capital BBGF Fund, funded by FNB through its Black Business Growth Funding transformation equity initiative, and Kleoss Fund II in their acquisition of Surgical Devices South Africa, a leading supplier of medical products. The transaction will support Surgical Devices South Africa’s growth and transformation strategy and bolster its commitment to advancing the provision of vital healthcare infrastructure and services across the country. The two funds’ investments in Surgical Devices South Africa will be managed jointly by Kleoss Capital (Pty) Limited (the manager).

Surgical Devices South Africa is a leading supplier of innovative medical products, serving healthcare institutions throughout southern Africa. The purchasing consortium invests in South African businesses with exposure to the rest of the continent, focusing on businesses displaying high-growth potential or market leaders in sectors.

A multi-practice team from DLA Piper’s Johannesburg office worked on the transaction led by Corporate director Amy Eliason. She was supported by directors Werner Rysbergen (Competition), Monique Jefferson (Employment), and Andrew Lewis (Tax). The team was also comprised of senior associates, Sibusile Khusi (Corporate) and Justine Katz (Employment), associates Mia Dupper (Corporate), Dharshini Naidoo (Competition), Christoph Berndt (Tax), and candidate attorney Lethabo Mogotsi (Competition).

Amy Eliason commented: “This is a fantastic transaction to have been a part of, and yet another deal concluded by the DLA Piper team within the medical devices sector. The acquisition is expected to unlock significant growth opportunities for Surgical Devices South Africa and strengthen its market position. It was particularly interesting in that there will be two funds invested in Surgical Devices: being Kleoss Capital BBGF Fund and Kleoss Capital Fund II essentially being managed by the same manager”.

With more than 1,000 corporate lawyers globally, DLA Piper helps clients execute complex transactions while supporting clients across all stages of development. The firm has been rated number one in global M&A volume for 15 consecutive years, is number 1 across Africa and the Middle East by M&A deal volume for two years, according to Mergermarket, and number one in M&A in combined global deal volume according to PitchBook.