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Evowood’s Estcourt mill dismisses 434 workers, remains closed after protracted strike action

By: Natasha Odendaal     17th March 2017 Some 434 Estcourt mill workers have been dismissed by hardboard manufacturer Evowood following protracted illegal strike action and a subsequent production stoppage costing the company more than R2-million a day. The workers were dismissed following a disciplinary process and a February 27 Labour... 

Masonite Africa rebrands as Evowood 

By: Anine Kilian     4th November 2016 Hardboard and softboard manufacturer Masonite Africa has been rebranded Evowood.   Masonite was acquired by a consortium consisting of Jacobs Capital and Black Bird Capital in August 2016.   A condition of the sale agreement stipulates that the newly constituted company can only trade under the... 

Jacobs Capital, partner invest R300m in recapitalising KZN hardboard manufacturer

By: Shirley le Guern     26th September 2016 Durban-based private equity firm Jacobs Capital and its partner Black Bird Capital are confident that investment of around R300-million will place struggling hardboard manufacturer Masonite back on its feet in the short to medium term.   The troubled company was placed in business rescue in... 

Jacobs Capital & Vulindlela Holdings Invest in Summit Crane Hire

     21st September 2016 Durban based private equity investors, Jacobs Capital and Vulindlela Holdings, have purchased a majority stake in leading mobile crane hire company, Summit, for an undisclosed sum. The company, which is the market leader in the Western Cape and has a presence in the Eastern and Northern Cape, has... 

Jacobs Capital takes over Masonite

By: Megan van Wyngaardt     15th August 2016 A recapitalisation programme and an investment of over R300-million are on the cards for South African manufacturer of engineered wood products Masonite. Masonite’s Estcourt Mill, in the KwaZulu-Natal Midlands, which produces hardboard, soft board and door panels, was damaged in an explosion in... 

Gelvenor Textiles sold to South African investor

By: Megan van Wyngaardt     20th July 2016 South African private equity firm Jacobs Capital has acquired Gelvenor Textiles from Courthiel Holdings, which is owned by German corporate investor Claas Daun, for an undisclosed amount. Gelvenor Textiles manufactures industrial, technical apparel, outdoor lifestyle, protective and aeronautical... 

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