Following from the investment by the Pan African Infrastructure Development Fund 2 managed by Harith General Partners (Harith) into Sheltam on 28 June 2017 Sheltam is proud to announce the:
– Rebranding of the Sheltam group under the Traxtion Banner
– Official launch of Traxtion Leasing a focussed rolling stock leasing company; and
– Official launch of Traxtion Projects a focussed rail infrastructure investment platform.
Sheltam has embraced the new Traxtion brand as it talks to ‘gaining traction’ and ‘moving forward’, tractive effort and rail tracks. It talks to the new energy being brought to Sheltam by Principle Capital, Harith and the Sheltam Executive.
Traxtion Leasing will be run by Willem Goosen as CEO. Willem has 30 years of experience in the global rolling stock leasing segment and has been instrumental in the successful launch of three leasing businesses. Traxtion Leasing is backed by Harith as anchor investor but will be managed by the Traxtion Group on behalf of Harith. The business will focus on product innovation and flexible financing solutions, with maintenance support and parts supply provision of Traxtion Sheltam it will bring world class solutions to Africa.
Traxtion Projects, also underwritten by Harith, is Africa’s first rail focussed infrastructure investments offering. It seeks to marry the deep project finance experience in Harith with the operational excellence and rail freight flow understanding of Traxtion Sheltam.
The Traxtion Group will seek to partner with locomotive and freight wagon OEM’s, track construction companies, consulting engineers and project developers as it seeks to bring a new and powerful force to the African rail industry.
James Holley, CEO of Traxtion Group said, “with over 30 years of experience Traxtion Sheltam is the perfect platform for us to launch Traxtion Leasing and and Traction Projects from, the three parts of the Traxtion Group, with the strong financial backing of Harith, marry operational expertise with financial capacity and an understanding of how to make projects work in Africa. It is just what the rail industry in Africa needs”.
Willem Goosen, CEO of Traxtion Leasing said, “leasing companies need to be so much more than financiers and at Traxtion Leasing we have the experience and understanding to bring product innovation to complement flexible funding solutions. With the support of the outstanding maintenance expertise in Traxtion Sheltam it is a really exciting value proposition.”.
Brian Myerson, Chairman of Traxtion Group said, “we could not be believe more deeply in the potential that the Traxtion Group has and what the offering could mean for the industry. We believe that this will be a platform not only for the rail industry but for mining and industry too as they seek efficient transport solutions”.
Emile du Toit, Head of PAIDF2 said, “In addition to what this offering brings Africa, as a black owned infrastructure fund we believe that Traxtion Leasing and Traxtion Projects are perfectly placed to support the South African government with its Public Private Partnership drive”.