TH Global Capital (formerly known as Technology Holdings) an award-winning global investment banking firm specializing in sector-focused investment banking, asset management, and growth advisory services, is pleased to announce that it has acted as the exclusive financial advisor to Retro Rabbit on their strategic sale to SmarTek21. SmarTek21 is backed by New York-based private investment firm, Tortuga Growth Partners.
Founded in 2004 and headquartered in South Africa, Retro Rabbit is a leading independent digital engineering and software development business providing solutions to blue-chip enterprise clients. Retro Rabbit has long-standing relationships with many of the largest banking and insurance institutions in South Africa, providing vast expertise in the financial services sector. The company’s 200 strong multi-disciplinary team offer deep technology stack expertise to provide cutting-edge software solutions for B2B and B2C use cases to enterprise clients globally.
Dion Nair, CEO of Retro Rabbit, said, “This acquisition allows us to expand our capabilities and accelerate our growth by integrating with SmarTek21’s platform. We are excited to leverage their global reach and deliver even more value to our clients as they undergo complex business transformations.”
Vivek Subramanyam, Founder and CEO of TH Global Capital, said, “We are excited to have completed this significant transaction with Retro Rabbit—our 11th digital product engineering deal and 32nd deal in the Banking & Financial Services IT space. It also represents a TH deal in our 26th country – South Africa. This transaction is a testament to TH Global Capital’s extensive expertise and proven capabilities in the digital transformation and digital engineering space. We wish Retro Rabbit every success in their strategic partnership with Tortuga Growth Partners and SmarTek21.”
Ben Wood, Associate Vice President at TH Global Capital, added, “We are thrilled to have supported Retro Rabbit at this significant stage in their growth journey. It’s been a delight working with the Retro Rabbit team who have built a truly exceptional business. SmarTek21 offers a strong cultural fit and provide several unique strategic opportunities to this new partnership. Deepest congratulations to the Retro Rabbit shareholders, we wish them great success in their next chapter.”
Find out more about the transaction here.