Merchantec Capital closes AgriTech Transaction

Merchantec Capital has successfully advised on the sale of Meat Matrix Software to AgVentures.

Meat Matrix Software (“Meat Matrix”) is a specialist ERP software solution for the food and meat industry and operates in six African countries namely South Africa, Namibia, Botswana, Zimbabwe, Nigeria, Seychelles and in Australia.

AgVentures is a South African investment company leading the agri-food technology revolution by investing in innovative agri-food technologies on the African continent.

Merchantec Capital was appointed to advise on the sale of the business which involved, identifying the right strategic buyer for the business, guiding the founder Deon Snyman through the sale process, and ultimately ensuring that the seller’s value and strategic expectations were met.

“If I had entered a sale process alone, I would not have managed to get the deal that Merchantec Capital structured for me. Their guidance through the different stages of the process was imperative to getting the deal done. From a seller’s perspective, the process before Merchantec’s involvement had been disappointing as potential acquirers lacked a desirable expectation of value and our strategic focus was not aligned. It took an experienced dealmaker like Merchantec to bring a viable and profitable deal to the table.”

Deon SnymanFounder and CEO of Meat Matrix Software Proprietary Limited

Having identified AgVentures as the preferred partner, Merchantec Capital assisted in the negotiations, structuring of the deal, managing the due diligence and legal processes and ultimately ensuring that the deal was concluded in the stipulated time period and to the satisfaction of the seller.

Sector: Technology – Software

Deal Type: Sell-Side

Year: 2021