South African private equity company Capitalworks preparing for acquisition of payments terminal provider
In a move to strengthen its presence in the payments sector, Capitalworks Group, a leading private equity firm based in Sandtown, South Africa, is planning to acquire the CellAir Group. The target company specialises in supplying payments terminals, crucial hardware devices that enable merchants and businesses to accept electronic payments[1].
This acquisition, made through Capitalworks Group's fintech and payments-focused investment holding company, signifies an interest in expanding and enhancing fintech capabilities in the region. By acquiring CellAir Group, Capitalworks aims to bolster its offerings in the payments ecosystem[1].
Becoming a Premium member will provide access to exclusive content related to this acquisition and other industry-related news. Existing members can log in to access this content, while the nature and benefits of Premium membership are yet to be detailed[1].
The timeline for the acquisition and the specific terms of the deal are not yet disclosed. The potential impact of this acquisition on the payments terminal industry is also yet to be analysed.
[1] Source: Unnamed source, 2022.
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