Les Palmer

BENCHMARK INTERNATIONAL SUCCESSFULLY FACILITATED THE TRANSACTION BETWEEN MARLYN CHEMICALS, MARLYN VULINDLELA (“MARLYN GROUP”) AND LETSEMA HOLDINGS (LETSEMA)

Benchmark International is pleased to announce the acquisition of the Marlyn Group by Letsema.

Marlyn Group is a distributor of speciality mining chemicals and water treatment chemicals, providing technical and laboratory services as well as export logistics into Southern Africa.

Marlyn Group offers a range of chemicals to the metal and mineral extraction industry and is a leading supplier of activated carbon, sodium cyanide, hydrochloric acid, and caustic soda to the mining industry. The group has a well-established customer base of blue-chip mining houses built over 30 years in operation, serving the sector with high quality products and technical services.

Founder of Marlyn, Les Palmer, commented on the transaction: “I would like to thank Benchmark for the professional way in which this transaction was handled! I wouldn’t have been able to handle the complicated negotiation and all the required paperwork on my own. Their expertise is exemplary!

“Letsema have negotiated in a fair and professional way throughout and I wish them all the best for their future with the two Marlyn companies”.

Established in 1996, Letsema is a black-owned and -managed family office and diversified long-term investment holding company with more than a 27-year track record of excellence and ethical business practice.

On behalf of Letsema, Group Executive: M&A and Partnerships, Keith van Niekerk, said of the transaction: “Letsema would like to extend their gratitude to Benchmark for all the hard work and assistance in getting the deal finalised. It has been a long road and we are grateful to Benchmark for their persistence, guidance, and patience.

“We have immense respect and admiration for the business Les has built over the last 30 years and are excited to continue building on his Marlyn legacy as we enter the resources focused segment of South African industry with this acquisition.”

Grant Impey from Benchmark International added: “It has been a pleasure working with our client and his team over the last few months. We are immensely proud to have facilitated a transaction where a long-standing legacy remains and will be stewarded by a highly successful leadership team. We would like to extend our best wishes to both our client and Letsema, as they both enter into a new journey and are confident that Letsema will be able to build on the successes that have been established.”