Bespoke & CfSD amalgamation: our B-BBEE deal concluded | by Kate Ferreira

MicrosoftTeams imageJuly 2019 marks Bespoke’s ninth anniversary in business, and it is fitting then that we are making two announcements to our Bulletin subscribers this month about the structure and future of the company. Firstly, after a long journey by Bespoke founder and managing director of Bespoke Andrew Hillman to find a suitable B-BBEE partner – as part of our B-BBEE transformation strategy – the first phase of the transactional process was concluded earlier this year. Secondly, through an amalgamation plan with our B-BBEE partner, we’re ready to launch our new venture, named Bespoke CfSD Group.

“While searching for a B-BBEE business partner, I have maintained that the right fit for Bespoke must be a prudent business person who has a complimentary network, and product or service offering to what Bespoke already has. They must be willing to be operationally involved in the Bespoke business while, at the same time, open up new opportunities for us – whether it be new projects or new clients,” says Hillman.

In January 2019, Bespoke concluded a shareholding agreement with Mr Molebatsi Moagi, an astute and established business person, who is currently the managing director of the Centre for Supplier Development (CfSD).

“When Andrew first approached me about becoming a shareholder and his partner in Bespoke, I was excited to get involved in this very credible business, and also to tap into Bespoke’s broad client network, using Bespoke to assist CfSD on supplier and enterprise development projects,” says Moagi.

Our new name and structure
The second phase of the transformation arrangement was the amalgamation of the Bespoke and CfSD businesses, which has led to the creation of a new venture named Bespoke CfSD Group. This allows both companies to cross-offer each other’s product and service offerings, and to seamlessly introduce the consolidated basket of products to both Bespoke and CfSD customers. Bespoke has now included supplier development (SD) and localisation solutions in its service offering, including preferential procurement, and SD strategy and policy development in both the public and private sector.

The amalgamation of Bespoke and CfSD has also created a new structure, with Moagi coming on board as executive chair, with a shareholding of 52% in the Bespoke business. Hillman becomes CEO of the Bespoke CfSD Group, with the balance of ownership at 48%. The organisation is considering a further B-BBEE transaction to bring in black woman and black youth as shareholders in the future.

“The amalgamated business strategy by the creation of Bespoke CfSD Group introduces new energy and impetus to the organisation, with new opportunities that have also opened up in Botswana and Kenya. More news about the entry into these two markets this will be announced soon,” says Hillman.

Moagi adds: “It is quite uncanny that immediately after Bespoke and CfSD reached our agreement to amalgamate operations, a new supplier and enterprise host community project was awarded to CfSD, which immediately pushed one of the project streams to Bespoke. This is exactly what Andrew and I were looking for. Both partners adding value to the organisation and bringing in new business. It is working already.”

The Bespoke CfSD Group has adopted the existing Bespoke vision, mission and values:

Bespoke CfSD Group vision
To be the “go-to-provider” in Africa for contracting, procurement, supply chain and supplier development advice, analytic and learning solutions.

Bespoke CfSD Group mission
To uplift and professionalise the contracting, procurement, supply chain and supplier development community through best-in-class practices.

Bespoke CfSD Group core values

Bespoke CfSD Core Values
“I am very excited about the future of the Bespoke CfSD Group. We are actively pursuing new projects and delivering on existing assignments. Our events unit continues to deliver exceptional results, with excellent feedback from participants,” say Hillman.

The amalgamated Bespoke CfSD Group now offers a suite of technology solutions for strategic sourcing, supplier relationship management, contract management, supplier onboarding, supplier development gap analysis, procurement maturity assessments, third party risk management, spend analysis, and procurement benchmarking.

“This new venture is encouraging to both me and the CfSD business. I can already see value being generated from the activities of the group, with a number of new opportunities in the pipeline, including a new event that we are planning for 2020 in the enterprise and supplier development space,” says Moagi.

Collectively, the group now boasts over 25 years of advisory and programme delivery experience, and a broad existing southern and eastern Africa footprint - focusing on medium to large scale organisations and public sector entities.

“We believe we are well positioned to drive continued value for our customers, offering technology solutions, plug-and-play advisory solutions, and deep knowledge and expertise in contract management, procurement, supply chain management, and supplier and enterprise development,” concluded Hillman.

Kate Ferreira is the contributing editor of Bespoke's Bulletin - www.bespoke.co.za

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Posted on July 18, 2019

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