Corporate finance & M&A advisory  ·  Johannesburg

You only sell your
business once.

It is the most consequential transaction most owners ever make, and the one they have had least practice at. For over three decades, Alchemy has guided South African business owners through the sale, purchase and funding of their companies. Senior people, doing the work themselves, staying at the table until the deal is signed.

Scroll
0
Founded in Johannesburg,
led by its founder still
0
Sectors: mining, water, chemicals,
plastics, logistics & more
Senior
Principals on every mandate,
not associates
Full
Lifecycle: origination, modelling,
diligence & close
What We Do

For owners at the
decisive moment.

Whether you are realising a lifetime’s work, acquiring to grow, or raising the capital to get there, Alchemy brings senior corporate finance judgement to the transactions that define a business.

01

Selling & raising capital

Sell-side advisory, capital raising and funding for owners and management teams. We value the business honestly, prepare it properly, run a discreet and controlled process, and negotiate hard, through to a signed deal.

Talk to us, confidentially
02

Buying & due diligence

Acquiring a business is where buyers most often overpay, or inherit problems they never saw coming. We walk acquirers through the entire process: valuation, financial modelling, full commercial and financial due diligence, deal structuring, funding and a clean close. We have guided global acquirers and first-time buyers through it alike.

Discuss an acquisition
How We Work

A controlled process,
not a fire sale.

Most owners fear the unknown more than the outcome. Here is exactly how a sell-side mandate runs, and why nothing leaves the room without your say-so. Buy-side mandates follow the same discipline, in reverse.

01

A confidential conversation

No obligation, nothing on the record. We listen first, to what you have built, and what you actually want from a transaction.

02

Honest valuation & preparation

What the business is genuinely worth, and the steps that make it worth more before anyone sees it. No inflated promises to win the mandate.

03

A discreet, controlled process

The right buyers or funders, approached carefully and on your terms. Your staff, customers and the market learn nothing until you decide they should.

04

Hard negotiation, then close

We model every scenario, hold the line in negotiation, and stay at the table through legals and conditions, until the deal is signed and settled.

Why Alchemy

We do not just advise on deals. We do them.

Through Alchemy Capital Investments, we invest our own capital in businesses and sit on the buyer’s side of the table. We know how acquirers think, what they probe for, and where value is won and lost, because we are acquirers ourselves.

When we act for you, that insight works entirely in your favour. You are not hiring a broker who has read about deals. You are hiring principals who live inside them.

On any single transaction, Alchemy acts for one side only. Our advisory and investment activities are kept strictly separate.

Portfolio · Chemicals

Hychem

A hospitality-sector chemicals manufacturer we acquired and transformed into a structured, scalable operating platform: eight national branches, multiple manufacturing sites.

Portfolio · Consumer

Schooldays

An investment holding in a consumer-facing business, where we contribute capital, governance and strategic direction as a hands-on shareholder.

Selected Track Record

Real deals, real sectors,
real scars.

Three decades of transactions across South African industry, on both sides of the table. Client names withheld for confidentiality; engagements described by sector and scope.

Mining & Resources

Mining equipment acquisition

Lead advisor to a global mining-equipment group on a South African control-systems acquisition, and a decade of follow-on restructurings, share transactions and management buy-ins since.

Buy-side · Decade-long
Water & Aquatics

Backed it, grew it, sold it to Fluidra.

We held a significant stake in Waterlinx, a national water-products distribution platform, and advised it through its acquisition-led growth: valuations and due diligence on the businesses it bought. The platform was subsequently sold to global aquatics group Fluidra, completing the investment and growth cycle.

Invested · Advised · Exited
Water Engineering

Multi-entity buy-side acquisition

Buy-side lead and due-diligence advisor on the acquisition of a multi-entity water-engineering and pumping group, including structuring, financing and commercial implementation.

Buy-side
Plastics Manufacturing

Multiple acquisitions & capital raises

Buy-side acquisitions, funding and capital-raising mandates across the plastics-manufacturing sector: full lifecycle from integrated model to close, with engagement through the major banks.

Buy-side · Funding
Logistics & Shipping

Restructuring of a logistics platform

Restructuring and transaction advisory on a large logistics and shipping platform, including financial restructuring, corporate structuring and broader empowerment initiatives.

Restructuring
Property Development

Retail development funding

Lead financial and capital-raising advisor on a suburban retail-centre development: bankable feasibility model, capital stack, and negotiated funding through multiple lenders.

Capital raise
The Team

Principals,
not intermediaries.

In a transaction this important, you are not buying a firm. You are buying the people who do the work. At Alchemy, that is exactly who you get.

MC

Michael Cumming

Executive Chairman

Founder of Alchemy, which he established in 1988, and its chairman to this day. Three decades in corporate finance, private equity and deal structuring across the South African mid-market. A founding shareholder in Waterlinx, the national water-products platform later sold to global aquatics group Fluidra. Chairs the group’s investment decisions and sits at the head of the table on its most significant mandates.

MJ

Matthew James

Corporate Finance & Operations

Brings together corporate finance, operational and systems experience, with a practical understanding of how businesses are valued, negotiated, acquired and improved. Works across private equity, acquisitions, disposals, valuations, due diligence and financial modelling, and serves as CIO of portfolio company Hychem.

AV

Aden Venter

Legal & Transactions

A lawyer specialising in corporate transactions, structuring and commercial agreements. Brings legal discipline and execution rigour to every mandate, from shareholder arrangements through deal documentation to close.

Insights

Straight talk on buying and
selling a South African business.

Sell-side Guide

How to sell your business in South Africa: a step-by-step guide for owners

Most owners do this once in a lifetime. We walk through the process end to end: valuation, preparation, finding buyers, and getting to a clean close.

Valuation

What is your business really worth, and how do you make it worth more before you sell?

The difference between a fair price and a great one is usually decided 12 to 24 months before the process even begins.

Buy-side

Buying a business in South Africa: how not to overpay or inherit a problem

The questions a careful acquirer asks, the diligence that protects you, and how to structure a deal you will not regret.

Start the Conversation

Tell us about
your situation.

Whether you are looking to sell, buy, or raise capital, tell us where you are. We will come back to you within one business day, in complete confidence.

Prefer to call? Reach us on +27 (0)11 463 4610.
We respond to every enquiry within one business day.