Stonehenge Auctions signed a B-BBEE deal with Kapela Holdings last month at the Fluxmans Attorneys offices in Rosebank.
Stonehenge Auctions signed a B-BBEE deal with Kapela Holdings last month at the Fluxmans Attorneys offices in Rosebank.Stonehenge Auctions is a relative newcomer to the auction industry, and they’re looking to challenge the status quo. The company aims to redefine the manner in which property auctions are executed in South Africa through reshaping the way that traditional property companies and the community conduct business when it comes to repositioning or acquiring property holdings.
Stonehenge Auctions is made up of a team of individuals with extensive knowledge in the property development, investment and structured finance, accounting, valuations, banking, sales and marketing fields. Its directors have a combined 50 years of banking, property finance and construction experience.
With its key objective, the seamless conclusion of property transactions that benefit both buyer and seller, Stonehenge Auctions conducts multi-property off-site auctions, as well as on-site auctions.
Kapela Holdings is a majority black-owned business made up of professionals who aim to create value through active involvement in its investments. The group targets mid-cap and large businesses with high growth potential and where a meaningful difference can be made through support and management if and when it is required.
Stonehenge Auctions CEO, Danny Moss, says it is important for their company to reflect the demographic of the country and venture into previously untapped markets. He says this B-BBEE agreement provides them with an excellent platform for successful market access.
Furthermore, he says the agreement with Kapela Holdings will assist them in growing their market share and enable them to pioneer transformation within the auctioneering industry. While they have experienced excellent growth in recent months, the agreement aims to position them for further expansion in the future, he says.
Makhup Nyama, Executive Director of Kapela Holdings, has been appointed to the Board of Stonehenge. He says Kapela Holdings will further assist Stonehenge Auctions in growing their business through leveraging their networks and relationships where appropriate.
“As a new player in the South African auctioneering industry, we are excited about the prospects this agreement will bring, including inroads into different markets.”
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