What Sana Partners does

Sana Partners (Pty) Ltd is a Cape Town-based private equity firm that invests alongside management teams in mid-market South African businesses, managing assets of R1 billion or more across six portfolio companies. The firm's stated approach is to acquire controlling or influential stakes and apply operational, financial and strategic improvements, leveraging an "Operational Network" of senior executives for value creation. Its portfolio spans industrial energy-efficiency (EnergyDrive Systems), consumer/retail brands (Ares Holdings), agrochemical processing (Brenn-O-Kem), mining consumables (Mine Support Products, executed in partnership with New Seasons), food and beverage flavours and ingredients (Lake International, acquired from AECI in 2025), and irrigation manufacturing (Agriplas, acquired from Kal Group in 2025).

The firm's revenue mechanics are typical of a mid-market private equity manager: recurring management fees on committed/invested capital (commonly 1.5–2.0% of AUM), supplemented by transaction and advisory fees on deal execution and carried interest on successful exits. Sana serves institutional and other investors as limited partners, with Ashburton Investments cited as an anchor investor, and serves management teams of portfolio companies as co-investment partners. Operating with a small team of 1–10 employees led by Japie Neethling, Nick Hudson, Bernard Sellmeyer and Jake Archer, the firm positions itself as a hands-on, operationally-engaged partner rather than a passive financial sponsor, and managing partners co-invest personal capital alongside LPs to align incentives.

Name

Sana Partners

Legal name

Sana Partners (Pty) Ltd

Website

https://sanapartners.co.za

Company type

Private

Founded year

1985

Operating status

Operating

Headcount range

1–10 employees

Short description

Sana Partners is a Cape Town-based private equity firm investing alongside management teams in mid-market South African businesses, managing over R1 billion across six portfolio companies spanning industrial, consumer, agrochemical, mining, food and beverage, and irrigation sectors.

Ownership category

akta.pro rank

Product category

Private Equity

NAICS

Other Financial Investment Activities (5239), Portfolio Management and Investment Advice (523940), Funds, Trusts, and Other Financial Vehicles (525)

SIC

Finance Services (6199), Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

Business Services (B2B) Growth Equity (FSANACAD)

akta.pro secondary industry

Management Buyouts (MBO/MBI) & Sponsor-Led Transactions Advisory (FSAEAGAI)

Keywords

• Private equity investment
• Mid-market investing
• Growth capital
• Portfolio management
• Buyout investing

Headquarters

HQ city

Cape Town

HQ country

South Africa

HQ region

Africa

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Private Equity Investment Returns: Sana Partners generates returns through equity investments in mid-market South African businesses. Returns are realized through portfolio company value creation, operational improvements, and eventual exits. The firm emphasizes alignment with management teams and invests its own capital alongside institutional investors.

Distribution channels1 record

Marketing channels3 records

Core offering

Sana Partners is a South African private equity firm that invests growth and buyout capital alongside exceptional management teams in mid-market businesses, with a concentrated portfolio of six companies spanning industrial technology, retail brand management, agri-processing, mining support, food ingredients, and irrigation. The firm manages R1b+ in assets, emphasizes alignment by having its managing partners invest personal capital in its funds, and provides strategic oversight rather than operational interference. Its flagship vehicle is Sana Partners Fund I, anchored by the Ashburton Private Equity Fund.

Product overview

Sana Partners is a South African private equity investment firm that does not offer a unified product or platform. Instead, it manages a concentrated portfolio of six mid-market companies across diverse sectors: EnergyDrive Systems (industrial energy savings technology), Ares Holdings (brand management platform), Brenn-O-Kem (agri-processing/wine waste extraction), Mine Support Products (mining support systems), Lake International (food and beverage ingredients), and Agriplas (irrigation and filtration solutions). These portfolio companies operate independently with distinct product and service offerings, while Sana Partners provides strategic investment and alignment support rather than a consolidated product architecture.

Differentiator

Problem solved

Functional benefit

Products and services

• Sana Partners Fund I Private equity fund that invests growth and buyout capital alongside exceptional management teams in mid-market South African businesses. Available to institutional investors and high-net-worth individuals, with the Ashburton Private Equity Fund as anchor investor.

Quantifiable outcome

• 38% combined IRR achieved at RMB Ventures across several successful private equity investments
• +3 more outcomes

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Seven partnerships are on record, tiered core.

• Irrigation Equipment ManufacturercoreStrategic or Co-development Partner · 18 November 2025Sana Partners is set to acquire an irrigation equipment manufacturer. This acquisition aligns with Sana Partners' focus on supporting mid-sized businesses in South Africa and represents an expansion of their agriculture-related portfolio holdings.
• Lake InternationalcoreStrategic or Co-development Partner · 1 January 2025Previously the food and beverage division of listed company AECI. Consists of three operating divisions: fruit juice concentrates and products, food additives, and filter aids. Large supplier to South African and African markets. Acquired by management and Sana in 2025.
• Brenn-O-KemcoreStrategic or Co-development Partner · 1 June 2020Family business since 1999, headquartered in Wolseley, Western Cape. Acquires wine waste (wine lees and grape pomace) and extracts grape ethanol and tartrates for use in brandy, wine, food and pharmaceutical industries. Sana acquired majority stake in June 2020 together with management team, with founding family remaining invested.
• Ares HoldingscoreStrategic or Co-development Partner · 1 February 2020South Africa's leading brand management platform founded in 2015. Includes global brands: Under Armour, Crocs, Birkenstock, Vans, Hey Dude, Ted Baker, and Oakley. Sana invested in February 2020 and continues to invest and innovate as the market evolves. The business focuses on direct-to-consumer models.
• EnergyDrive SystemscoreStrategic or Co-development Partner · 1 November 2017Sana's relationship with EnergyDrive Systems founders dates back to 2013. Sana invested in November 2017. EnergyDrive purchases, installs, calibrates and monitors advanced energy savings systems in heavy industrial processes, saving clients over 50% of their energy requirements. The company is now domiciled in the UK under holding company Apogee Sustainability Ltd.
• Mine Support ProductscoreStrategic or Co-development PartnerManufacturer and distributor of innovative roof-support and roof control systems for the mining industry globally. Sana and New Seasons partnered with founding management team to acquire the business from parent company. Technology coupled with understanding of mining industry requirements drives continued growth.
• AgriplascoreStrategic or Co-development PartnerIrrigation and filtration specialist, previously a division of Kal Group (formerly listed as Kal Group). Manufactures drip line and sprinkler solutions for agricultural industries across Southern Africa. Well positioned to enhance farming community resilience through R&D and strong relationships. Sana is partnering with management to develop this opportunity.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Sponsor Capital: South African mid-market private equity firm investing in partnership with management teams, similar to Sana Partners' alignment-driven investment approach.
• Ethos Private Equity: One of South Africa's largest mid-market private equity firms, Ethos invests in mid-sized businesses with strong management teams — directly comparable to Sana Partners' strategy of partnering with management in South African mid-market companies.
• Metier Capital: South African private equity firm investing in mid-market businesses across Southern Africa, often alongside management teams. Highly comparable in strategy, geography, and target deal size.
• Business Partners: South African mid-market investor focused on SMEs and mid-sized businesses, often taking minority or majority stakes alongside management. Comparable in target market and South African mid-market focus.
• Capitalworks: South African mid-market private equity firm investing in established businesses, often as a majority partner alongside management. Closely comparable to Sana Partners in target market, size, and investment approach.

Broad incumbents

• RMB Ventures (FirstRand): The corporate venture and private equity arm of Rand Merchant Bank, where Sana's founders previously worked. A direct predecessor institution and the benchmark against which Sana's track record (38% IRR) was set.
• Actis: Global private equity firm investing in emerging markets including Africa, with a focus on infrastructure and mid-market businesses. Represents a scaled, sector-diversified PE peer operating in similar geographies.
• Development Partners International: Pan-African private equity firm with a focus on mid-market opportunities across Africa. A scaled peer in the same geographic and mid-market space as Sana Partners.
• Helios Investment Partners: Pan-African private equity firm investing across the continent in mid-to-large market opportunities. Comparable to Sana in Africa-focused mid-market PE although at significantly larger scale.

Regional players

• AIIM (African Infrastructure Investment Managers): Pan-African private equity manager focused on infrastructure and industrial investments. Comparable in African mid-market exposure and principal-investment alignment.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Sana Partners