Masslift Africa, the sole distributor of Mitsubishi Forklift Trucks in Southern Africa and a leading force in the material handling industry, is proud to announce a recent management buyout (MBO), marking a pivotal moment in the company’s history.
The MBO was led by the Executive team of the business and the Chairman of the Board. This has resulted in increased shareholding for the CEO, Marco Caverni, as well as shareholding for the CFO, Thembi Mazibuko and the Chairman of the Board, Nelson Mwale, through his consortium.
The MBO will drive sustainable growth and value creation – through the vested interest model – within the business, building on an already impressive three decades of service excellence. The company plans to leverage the upgraded ERP system and overall infrastructure to improve efficiencies while continuing to upskill and train its employees to offer the best service and establish new strategic partnerships to ensure sustainable business growth.
A noteworthy outcome of the MBO is attaining a Level 1 Broad-Based Black Economic Empowerment (B-BBEE) certification, demonstrating Masslift’s dedication to diversity and alignment with the nation’s transformation objectives. With over 60% direct black shareholding and over 20% black female shareholding, Masslift Africa is actively contributing to a more inclusive and representative business landscape.
Marco Caverni expressed his optimism about the future: “This MBO signifies a new era for Masslift Africa. We are committed to building on our legacy of outstanding service with an increased focus on our employees’ growth and development. I am grateful for the support we have received from our previous shareholder, New Seasons, and the continued support from our OEM, Mitsubishi Logisnext throughout a challenging 2023. With this exciting shareholder change, we believe we are still big enough to service the whole industry but small enough to care, and we look forward to an exciting year ahead with new product announcements on the horizon.”
Safely Driving and Operating Forklifts
Masslift Africa announces a management buyout https://t.co/dmemU9SgZ1 #ArriveAlive @MliftAfrica pic.twitter.com/km22qgKICU
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