Good management leads to proudly South African product
AutoTrader.co.za has been acquired by four local shareholders: members of the AutoTrader.co.za Management Team; Stockdale Street, which represents the Oppenheimer family’s South African private equity interests; RMB Corvest, a private equity company and a member of the FirstRand Group; and Bopa Moruo, a South African black-run mid-market private equity firm.
“Auto Trader in South Africa has been independently run by a local management team since inception in 1992,” said CEO George Mienie.
“The sale means that this business which has been run by South Africans for over two decades, is now also owned by South Africans,” said Mienie.
AutoTrader.co.za offers car dealers and private sellers the ability to access the largest motoring audience in South Africa. It is the most visited motoring brand online in the country with over 1 million unique visitors (buyers) per month with a steady growth of 53% year-on-year. The innovative business has transformed from a traditionally print focused operation, in to a market leading digital business.
AutoTrader.co.za will continue to evolve to meet consumer and dealer needs by developing innovative products and services that bring buyers and sellers together with no transactional barriers. It is business as usual for the innovative online company.
The existing management team will continue to run the business under the leadership of George Mienie, CEO for the past 6 years.
“We are excited about this phase of Auto Trader’s evolution and we look forward to the future."
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