South African agricultural biosolutions company Afrikelp has been acquired by Sustainable Agro Solutions (SAS Group), backed by Stirling Square Capital Partners, following a period of international expansion and strategic development supported by RMB Ventures.
The transaction positions the business within a broader international biosolutions platform and provides access to additional technologies, capabilities and markets to support its continued growth.
Founded in South Africa, Afrikelp develops premium seaweed-based biostimulants derived from Ecklonia maxima, a kelp species harvested off the country’s coastline.
Its products help improve crop performance, resilience and productivity and are used by farmers in more than 55 countries worldwide
RMB Ventures first invested in Afrikelp in 2019 as the lead and largest investor in a management buyout.
The investment brought long-term capital and strategic support to a specialist business with a differentiated product, strong scientific capability and the potential to grow beyond South Africa.
“We were attracted to Afrikelp because of its unique combination of scientific expertise, proprietary technology and access to a high-quality natural resource,” says Ewan Gray, Partner at RMB Ventures.
“From the outset, our ambition was to support management in building a globally relevant biosolutions business from South Africa. Together, we strengthened the business, expanded its international reach and positioned it for its next phase of growth.”
During the partnership, RMB Ventures worked with management and the board to sharpen Afrikelp’s growth strategy, strengthen leadership and governance, formalise operations and broaden its international commercial reach. These changes supported the company’s expansion and helped build a stronger platform for its next stage of growth.
Sustainability remained an important element of Afrikelp’s growth strategy throughout the investment period.
The company’s focus on responsible stewardship of natural resources, scientific innovation and long-term value creation helped strengthen its position in global agricultural markets.
“Our partnership with our shareholders helped us think more deliberately about the kind of business we wanted to build and the impact we wanted to have,” says Dr Nicole Hart, Chief Executive Officer of Afrikelp.
“Together, we developed a clear vision for sustainable growth that balanced commercial success with investment in our people, products and environment. That foundation has helped position Afrikelp for this exciting next chapter.”
The acquisition brings together complementary products, scientific expertise and market reach.
Afrikelp adds its South African capabilities and established international customer base to SAS Group’s platform, while gaining access to a wider set of technologies and markets through which to pursue further growth.
For RMB Ventures, Afrikelp demonstrates the role of patient capital and an active partnership with management in helping a specialist South African company build the capabilities and market reach required to compete internationally.
“For RMB Ventures, this investment has always been about backing a capable management team and helping build a world-class business. We are proud of what has been achieved and grateful to have been part of Afrikelp’s journey. The company is well positioned for its next phase of growth, and we believe SAS Group will be an excellent long-term home for the business, its employees and its customers.”
