Kwa-Zulu Natal-based Bates Motors, which is an authorised Isuzu Franchisee, has signalled its entry into Gauteng with a 100 percent shares acquisition of Isuzu Truck World in Kempton Park.
The sale of Isuzu Truck World to Bates Motors has been funded through a combination of both own equity and debt through the newly launched Automotive Investment Transformation Fund (AITF) which focusses on the acceleration of transformation in the South African automotive value chain. Isuzu Motors South Africa is one of the seven founding automotive manufacturers of the AITF.
The move comes two years after the complete acquisition of the Bates Motors business by Isipho Capital Motors in 2019. As a result, Bates Motors and Isuzu Truck World are now 100 percent black-owned (and 65 percent black women-owned) businesses.
“We are pleased to increase our investment in the Isuzu brand,” said Fortunate Mdanda, Isipho Capital Chairwoman. “We believe the acquisition of Isuzu Truck World is a testament to our commitment to the transformation agenda in the South African Automotive Sector - a commitment we share with Isuzu Motors South Africa.”
Isuzu Truck World is responsible for the sales and service of Isuzu’s complete range of medium, heavy and extra-heavy trucks, busses, D-MAX bakkies and mu-X SUVs. The dealership is located in close proximity to the Ekurhuleni Aerotropolis at the corners of Great North Road and Deodar Street in Pomona, Kempton Park.