Arbez Consortium recently acquired a 26.32% equity stake in Storage Technology Services (“StorTech”), as part of a Broad Based Black Economic Empowerment (BBBEE) deal. StorTech is a network computing and data management solutions integrator that provides South African companies with data centre solutions.

Following the deal, StorTech’s shareholding consists of Arbez Consortium (26.32%); Yusuf Surtee, a private shareholder (5%); and StorTech’s holding company, Storhold (68.68%). This brings the overall BBBEE shareholding to 31.32%.

Arbez Consortium is an investment company formed specifically to fulfil a need for black participation in ICT. “StorTech is a leader in its chosen niche area in ICT and has a solid track record in the local industry. From a business and commercial perspective it made sense to invest in the company, as we saw opportunities to grow StorTech’s business further in certain market segments to benefit its shareholders,” says Mthunzi Mdwaba, CEO of the Arbez Consortium.