ata-about-sliders-bg1 ATA FUND II INVESTMENTS


August 2013 (Exited in 2018)



South Africa






9% in Tosaco

Sector: Energy

Type: Refining and Marketing

Established: 2003

Innovation: Growth strategy in place to expand retail business footprint nationwide

Status: Consortium of diverse BEE entities which purchased a 25% stake in Total South Africa (TSA)’s refining and marketing operations

USPs: Relationship with The Total Group, one of the largest integrated oil and gas companies in the world. Strong network of over 500 service stations throughout South Africa. TOSACO is positioned for sustainable performance in a lower oil price environment

Co-investors: Calulo Energy Investments, Southbase Investment, Capital Oil, Development/Employee Trust, Remgro

Why we invested

  • Significant player in a key sector of the economy
  • Highly regulated, mature industry
  • Strong network of service stations throughout South Africa
  • Solid business with strong turnover growth and cash flows
  • Progressive dividend policy

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