“There is nothing permanent except change.” Heraclitus of Ephesus
The Dragonfly Africa Group, Southern and East Africa’s leading Travel & Destination Management Company, is proud to announce that a Management Buy Out of the business has been concluded. Mike Waller – Chief Executive Officer and three other executives, Yolanda Woeke-Jacobs – Director: Sales & Marketing, Barry Schreiber – Director: Finance and Kerry Roos – Director: Operations and Product Development, will immediately acquire additional shares.
The acquisition was finalised on 15 January 2016 and includes both Dragonfly Africa and Green Route Africa with a combined staff of 55 people.
Mr Rupert Jeffries, Executive Chairman, stated that after many months of discussion and consultation, a strong agreement had been reached regarding the way forward for the Group.
Mr Jeffries will remain the majority shareholder over a minimum period of four years, after which time the shareholders will be able to acquire all of the remaining shares in Dragonfly Africa and Green Route Africa.
Mr Jeffries concluded, “We are all extremely pleased we have been able to conclude this agreement as an entirely internal matter, with no outside parties or institutions involved.
It was certainly a challenging and complex negotiation, but the most important ingredient in the end, I believe, was the trust between us all after many years of knowing and understanding each other and the personality of our business.’
‘I find it very gratifying to envisage our Group, and our future, in the hands of the very people who have invested so much of their time and expertise over the years, and who were intimately involved in the success of the Group as it stands today.“
Dragonfly Africa looks forward to a successful 2016, especially considering the very favorable exchange of major foreign currencies against the ZAR (South African Rand), which is resulting in Southern Africa being seen as such a desirable destination.