About Invicta
We are Invicta Holdings, a South African based company with a focus on the industrial consumables sector. With a steadfast commitment to innovation, efficiency, and sustainable growth, we drive forward as a catalyst for industrial advancement in South Africa and beyond.
Invicta at a glance
Invicta aims to provide innovative solutions that empower industries for a sustainable future
Invicta’s primary business is managing and optimising the performance of our investments. Some of the key industries in which we invest include industrial consumable parts, auto-agricultural parts and earthmoving equipment parts. Our business segments are primarily involved in the supply and distribution of replacement parts, services and solutions for the industrial and auto-agri industries, as well as capital and earth-moving equipment and related spare parts and services.
Our Investment Philosophy
We aim to invest in businesses that generate consistent, predictable and sustainable returns and cashflows from a diversified and well-constructed industrial portfolio of investments.
Vision
Our vision is to be a leading global distributor of industrial consumables.
Mission
To create superior value for all our stakeholders, which include our shareholders, suppliers, customers and employees.
Group Operational Structure
Invicta comprises five operational divisions

- Supplier of after-market replacement spare parts, ground engaging tools and undercarriage parts for earthmoving equipment in Southern Africa.
- Independent supplier of after-market heavy-duty diesel engine parts for industrial and agricultural machinery worldwide.


- KAG is one of the largest independent distributors of heavy machinery parts and diesel engine components in Asia.
- Parts distributed are used for excavators, bulldozers, wheel loaders, motor graders, trucks, trailers, power generation sets and marine engines.
- Kensetsu, which is based in China, manufactures rollers for the undercarriage of heavy machinery.
- European truck and bus parts are distributed through its subsidiary Kian Chue Hwa Pte Ltd.


- Distributor of engineering consumable products, technical services and 360-degree solutions across Africa. RPI’s competitive edge stems from a multinational network of 108 branches and an additional 107 vendor managed inventory (VMI) consignment sites.
- Activities include the international and local sourcing of leading global brands, the distribution of premium engineering components and consumables, the provision of technical support, value-added assembly, and the bespoke manufacturing of components into customised systems and solutions for end-user customers.


- Supplier of imported and locally sourced automotive and agricultural after-market replacement parts and kits.
- In addition to four South African branches, European representation includes operations in the United Kingdom, Spain, Poland and Ukraine.


- Distributor of earthmoving and material handling equipment, we also specialize in providing original equipment manufacturer and replacement parts through our diverse divisional outlets across Southern Africa.

The Figures

Total employees across the Group
Total assets
Turnover
per annum
Market
capitalization
Presence in 17 Countries
Across 5 Continents
History of the Invicta Group through the ages
- 2020s
- 2010s
- 2000s
- 90s
- 60s to 80s
2020s
- Disposes of certain of its CEG businesses to CNH Industrial SA Proprietary Limited
- KAG operations are restructured to introduce a strategic partner in the business along with increasing its interest in one of the world’s leading roller manufacturers in China and its distribution network across northern America
- Capital Equipment Group acquires KMP, a leading after-market parts supplier operating out of the UK and the USA
- Invicta restructured into 5 business segments CE, RPE, KAG, RPI, and RPA
- Restructure of RPA to align the UPG offshore operations within the Group structure

2010s
- Acquires a 50% shareholding in MacNeil Distributors
- Creates the Building Supply Group which includes Tiletoria and MacNeil (which is subsequently sold in 2017)
- Acquires Kian Ann (KAG) and delists it from the Singapore Stock Exchange
- KAG establishes subsidiaries in Thailand and acquires stakes in Steve Woods Ltd in the UK, North American Tractor and Excavator Parts in Canada, Kunshan Kensetsu Buhin Co Ltd in China, and enters into a joint venture with SKL Equipment in India
- CSE establishes Landbou Agriculture After-Market Spare Parts
- CEG division is formed with the acquisitions of ESP Construction After-Market Spares, HPE Hyundai Construction Equipment and Shamrock Handling Concepts, and includes CSE
- ESG division is formed with the acquisitions of Man-Dirk (now Industri), Hansen and Hyflo, Rustenburg Engineering and Foundry, Forge Industrial Group, Driveshaft Parts and Euro Driveshafts, and includes BMG

2000s
- Bearing Man Group (“BMG”) becomes part of Invicta and delists from the JSE
- BMG acquires OST and establishes its hydraulic business and fasteners division
- CSE acquires New Holland SA, Doosan Construction Equipment and TCM Forklifts
- Creates a 25% BEE shareholding for its South African operations
- Acquires a 60% stake in Tiletoria

90s
- Divests of its textile interests
- Acquires the retail bearing and transmission businesses called Invicta Bearings. At that time, the company’s divisions included industrial consumables, engineering, sports goods and telecommunications, but bearings soon became the core business
- Changes name to “Invicta Holdings Limited”
- Acquires Autobax, CSE Equipment Company and Engine parts

60s to 80s
- Incorporated as West Rand Organ Company (Pty) Ltd
- Lists on the JSE in 1987 as “Skirtskip Clothing Limited”
- Disposes of its interest in clothing manufacturing in 1989 and acquires companies involved in the engineering, textile and leisure industries
- Changes its name to “Nova Constantia Limited”

Board of Directors


Dr Christo Wiese
Chairman
Qualifications: BA, LLB, DCom (h.c.)
Years of service as a director: 28
Dr Wiese was appointed as a Non-executive Director of Invicta in October 1997 and served as Chairman from October 1997 to April 2000. Dr Wiese was re-appointed as Non-executive Chairman in January 2006 and is currently also the Chairman of Tradehold Limited and a Non-executive Director of Shoprite Holdings Limited and Brait SE.

Steven Joffe
Chief Executive Officer
Qualifications: BCom (Hons Taxation) and HDip (Company Law), CA(SA)
Years of service as a director: 5
Steven was with the enX Group Limited for five years, initially as Chairman and later as CEO. Steven was previously the CEO of Wild Rose Management (Pty) Ltd and Gold Reef Casino Resorts Limited and joined Invicta as the Group CEO on 1 January 2020.


Nazlee Rajmohamed
Chief Financial Officer
Qualifications: BCom, PGDA, CA(SA)
Years of service as a director: 7
Ms Rajmohamed joined Invicta on 1 July 2018 as Group CFO. Ms Rajmohamed has over 24 years of executive experience, having held senior positions within the TOTAL Société Anonyme Group in South Africa, Nigeria, and France, and at MTN Group Limited, where she served as Executive Group Finance.

Craig Barnard
Executive Director
Qualifications: CA(SA), MBA, ACIS
Years of service as a director: 18
Mr Barnard joined Invicta Holdings in 1998 as Financial Manager after holding positions at Sappi and Group Five. He was appointed as a Director of CSE Equipment Company in 1999 and became Invicta’s Company Secretary in 2002. In June 2007, he was appointed as an Executive Director of Invicta Holdings. Mr Barnard resigned as Company Secretary in January 2014, continuing as Financial Director and Commercial Director. In 2018, he stepped down as Financial Director, continuing in his role as Commercial Director.


Frank Davidson
Independent Non-executive Director
Qualifications: BCom, BAcc, CA(SA)
Years of service as a director: 5
Mr Davidson is a chartered accountant with over 30 years of experience as a business owner and executive. Mr Davidson has worked in wealth management for more than 20 years and is currently engaged in private equity.

Rashid Wally
Independent Non-executive Director
Years of service as a director: 12
Mr Wally has over 38 years of experience in the information technology sector, having held senior executive positions with IBM in Africa, Europe, the Middle East, and South East Asia, including Lenovo in Africa. Mr Wally was Chairman of the Board and member of the Audit and Risk Committee of Mango Airlines and is currently Chairman of Fastjet PLC and serves on its Audit and Risk Committee.


Mpho Makwana
Independent Non-executive Director
Qualifications: BAdmin (University of Zululand), BAdmin. Hons (University
of Pretoria), EDP Certificate (Kellogg School of Management), Postgraduate
Diploma, Retail Management (Stirling University, UK)
Years of service as a director: 5
Mr Makwana is an accomplished business leader with more than 34 years of executive experience, having held various senior leadership and governance roles across multiple sectors. He previously served as Chairman of Eskom Holdings SOC Ltd and Chairman of Nedbank Group Ltd, retiring from the latter in June 2023. He also served as the Independent Non-executive Chairman of ArcelorMittal South Africa Limited from 2013 to 2022. Mr Makwana currently serves as the Lead Independent Director on the Board of Invicta Holdings Limited. In addition, he is Chairman of Epitome Investments and Epitome Private Equity Fund Managers (Pty) Ltd, and a Trustee of the Nelson Mandela Children’s Fund.

Iaan Van Heerden
Non-executive Director
Qualifications: BLC, LLB, LLM (cum laude), Higher Diploma in International Tax
Years of service as a director: 5
Mr van Heerden served as an Investment Banking Director at Rand Merchant Bank and has over 21 years of experience in investment banking, mergers and acquisitions, tax, and corporate law. Mr van Heerden is a co-founder of Oryx Partners, which manages Dr Christo Wiese’s family office and is a strategic business partner of the Wiese family.


Lance Sherrell
Non-executive Director
Qualifications: BCom
Years of service as a director: 15
Mr Sherrell is a Director and shareholder of the SMG Group (BMW). Mr Sherrell studied commerce at the University of Cape Town and has been involved in the hospitality and motor trade industries for over 15 years. Mr Sherrell represented South Africa as a rugby player in the national team in 1994

Jacob Wiese
Non-executive Director
Qualifications: BA (Value and Policy Studies), LLB, MIEM (Bocconi, Italy)
Years of service as a director: 15
Mr Wiese obtained his BA degree and worked at Lourensford Wine Estate, managing leisure and tourism activities. He completed his Master’s degree in International Economics and Management and his LLB degree. He completed his pupillage at the Cape Bar and was admitted as an advocate of the High Court. Mr Wiese was appointed as a Nonexecutive Director of Invicta Holdings in July 2010. He also serves as a Nonexecutive Director on the boards of Shoprite Holdings, Collins Property Group, and Fairvest Limited.


Sade Lekena
Group Legal Counsel and Company Secretary
Qualifications: LLB, Certificate in Governance, Risk and Compliance, Admitted Attorney
Ms Lekena joined Invicta on 15 April 2024,she is an admitted attorney with over 11 years of experience in corporate and legal affairs across diverse sectors including mining, food and beverage, telecommunications, energy, resources, and media. She has extensive experience in mergers and acquisitions, competition law, litigation, dispute resolution and proven track record as Company Secretary for the board of companies including Mc Donald’s SA, the Cyril Ramaphosa Foundation, and the Adopt a-School Foundation. She holds an LLB degree and a certificate in Governance, Risk and Compliance.