Managing Director AFCORP Investments South Africa
Mr. Boyd is a seasoned investment banker with over 30 years of experience, the last 15 of which have been in Africa. Mr. Boyd started his career in New York with Chase Manhattan, and later spent five years in Houston covering the oil & gas sector, and completed deals i n Australia, Argentina, Mexico and the Far East.
Since his arrival in South Africa in 1995, he has been involved in a number of black economic empowerment transactions in South Africa, and has also worked on transactions in Zambia Zimbabwe, Gabon, Tanzania, Ghana, Botswana, Ethiopia, and Egypt.
Selected Client Experience
- Financial advisor and joint equity arranger in transaction valued at $40m USD for the telecommunications holding company of a group of high-speed, innovative, mobile broadband networks (4GLTE) already established in four Sub-Saharan countries. The Company has licensed operating companies incorporated in Nigeria, Uganda, Tanzania and Democratic Republic of Congo.
- Financial advisor and joint equity arranger for 100% acquisition of Transport Group in a transaction valued at R600 million and listing on the main board of the JSE.
- Arranged financing of R320m for the acquisition the largest privately-owned Passenger Coach Refurbishment business in South Africa in a leveraged buyout transaction comprised of both debt and equity capital.
- Financial advisor to the largest black-owned engineering company in South Africa engaged primarily in the manufacturing, repairing, and distribution of industrial engineering products and services. In support of the Company’s strategic business objectives and investor solicitation efforts arranged more than R300m in debt and equity capital which enabled the expansion of the Company, from Turnover R100m to R1 billion and as a lead advisor concluding financings on four successful acquisitions.
- Advised the African Development Bank as lead project manager to develop the detailed feasibility study for structuring a $500 million Fund-of-Funds to allocate institutional capital to private equity funds targeting investing in agriculture and along the agribusiness value chain in Africa.
- Advised EDI Holdings on the R40 billion restructuring of the electricity distribution industry in South Africa. This involved the proposed merger and acquisition of the distribution businesses and assets of Eskom, and 188 municipalities for the creation of six Regional Electricity Distribution companies and establishment of a regulated monopoly in South Africa.
- Advisor to a Cape Town based private equity investment holding company with respect to the establishment of a R1 billion private equity fund in South Africa. Developed the private placement memorandum, investor presentation materials and coordinated development of financial model in support of the multinational investor solicitation effort. Advised the South African Department of Trade and Industry in the financial restructuring of the Small Business Development Corporation. Structured the sale of 30% of the Government’s equity interest to the private sector.
- Developed formal internal investment guidelines and processes for assessment of prospective investments for a Cape Town based investment holding company and concluded transactions in excess of R1.1 billion.
- Advisor to a European based private equity holding company on its equity investments in the automotive components manufacturing sector in South Africa and globally.
- Arranged a R50 million financing commitment for current BEE investors to increase its ownership stake in South Africa’s third largest GSM cellular network operator.
- Financial advisor to NASDAQ listed Pharmaceutical Benefits Manufacturing Company in its proposed acquisition of Medikredit and other similar businesses in South Africa.
- Financial advisor to a US based HMO in the proposed acquisition of a South African based medical aid scheme.
- Financial advisor to an ICT investment holding company in its proposed acquisition of an electronic based financial services provider to South African financial institutions.
- Participated in the establishment of a private equity joint venture with African Renaissance Holdings which operates as a passive BEE private equity investment holding company that decided to expand into active, direct, private equity.
- As Financial Advisor and principals in consortium arranged and structured fully financed bid for the acquisition of Sun Airlines in SA Government privatisation.
- Transaction advisor to a South African based Pan African and BEE investment company in the 100% acquisition of a regional generic pharmaceutical manufacturing concern based in Zambia with an enterprise value of USD $30 million. Arranged funding and advised on the technical and environmental aspects of the transaction
- Concluded R1.1 billion acquisition of 25% equity interest in JSE listed multinational healthcare company
- National Empowerment Fund – participated in the restructuring of the NEF’s SME business unit and responsible for developing restructuring strategy and business process re-engineering of a R5 billion organisation.