Case study 02 · Industrial manufacturing · South Africa
Capital raise for a scaling industrial manufacturer
Growth strategy, investment case development and capital mobilisation for a South African industrial gearbox manufacturer.
R42m capital raised · 59.4% five-year revenue CAGRThe business need
A proven industrial gearbox manufacturer needed growth capital and a credible strategy to expand in response to rising demand.
How Athari helped
Athari developed the operational plan, five-year growth strategy, financial model and investment case, then supported the capital-raise process.
R42m capital raised · 59.4% five-year revenue CAGR
The investment case was approved by leading development and empowerment funders, securing R42 million through a blend of grant, debt and equity instruments.
A South African industrial gearbox manufacturer with a strong record of delivering high-quality gearboxes and components was experiencing rapid growth and increasing market demand.
The company had achieved compound annual revenue growth of 59.4% over five years. To convert that momentum into sustainable scale, it sought R42 million in growth capital and a rigorous strategy that could be communicated to funders with clarity and conviction.
The challenge: turning strong performance into a fundable growth case
The business had a credible track record and rising demand, but needed an integrated view of its operations, financial performance, market position and competitive landscape. Management also required a clear set of strategic options and robust financial projections to support investment decisions.
Athari was engaged to formulate the growth strategy, develop the supporting analysis and present a compelling investment proposition to prospective funders.
A comprehensive and structured approach
The strategy linked operational reality, market opportunity and financial performance in one decision-ready investment case.
- Business diagnosticWe assessed current operations, historical financial performance, market positioning and the competitive landscape to establish the starting point for growth.
- Strategic option developmentAn iterative process identified practical growth options and defined the future direction of the business.
- Integrated financial modellingProjected income statements, balance sheets and cash-flow statements were developed to test affordability, funding requirements and the financial effect of the strategy.
- Investment-case developmentThe operating plan, growth strategy and financial model were synthesised into a credible proposition for development funders and empowerment investors.
Athari's services
Business case development
A clear, evidence-led case for investment and expansion.
Market intelligence and entry strategy
Insights into demand, competition and routes to market.
Organisation and financial design
Organisational design supported by cost, cash-flow and financial modelling.
Solution and deliverables
- Comprehensive operational planA practical plan to optimise the current business and prepare its operating model for expansion.
- Strategic five-year growth planA structured roadmap with clear objectives, priorities and initiatives for scaling the manufacturer.
- Compelling investment documentAn investor-roadshow document that communicated the company's vision, historical performance and growth prospects.
The impact: capital secured for industrial expansion
The investment case was approved by two of South Africa's largest development funders and an empowerment fund. The transaction brought together several partner funders and matched the company's needs with an appropriate blend of instruments.
The full growth-capital requirement was secured through a tailored mix of grant, debt and equity instruments, giving the manufacturer the funding platform needed to pursue its expansion strategy.
Why the approach worked
The funders were not asked to rely on ambition alone. The case connected a verified history of growth to a practical operational plan, tested financial projections and a clear five-year strategy. This gave decision-makers a credible basis for supporting the company's next stage of scale.
Your next decision