30-year-old company sold in South Africa
Resolve, via the Resolve Private Equity Fund I, has acquired Tiletoria, a popular tile retailer that supplies many of South Africa’s largest brands.
Resolve is a private equity business targeting R1.1 billion in mid-market investments in Southern Africa.
Its fund has acquired Tiletoria, which has been one of South Africa’s foremost tile and bathroom specification businesses since 1995.
The company provides tailored product sourcing and design services to clients, including Woolworths, Checkers, Clicks, KFC, and residential developers.
While most tile retailers’ focus is on direct-to-consumer sales, Tiletoria’s focus is on supplying to high-volume, project-based clients.
This specialisation and experience have made it the go-to partner for businesses seeking high-quality tile products.
“While investor attention often gravitates towards emerging fields such as technology and energy, we continue to see attractive opportunities in traditional business models that are integral to South Africa’s industrial base,” said Phumi Twantwa, partner at Resolve.
“Tiletoria operates in a sector that is expected to deliver growth, driven by renewed infrastructure activity, local procurement priorities, and steady consumer demand.
“It’s also a business that quite literally touches the lives of South Africans every day – in their homes, shopping centres, favourite take-away joints and workplaces.”
Resolve’s investment thesis focuses on infrastructure support and services, which are sectors positioned to deliver strong returns and tangible socioeconomic benefits, with the Tiletoria transaction aligning with the strategy.
Tiletoria CEO, Sven Swart, said that the transaction represents both continuity and renewal, with the investment set to help it grow further.
“Over three decades we’ve built a trusted brand, a strong client base and a reputation for responsiveness,” said Swart.
“Partnering with Resolve allows us to preserve that foundation while regaining the entrepreneurial agility that defined our early years.”
He noted that the company also intends to enhance its decision-making speed and flexibility. This has helped it stay ahead of its competitors.
“In today’s market, the ability to adapt quickly is crucial. Working with a partner that values that entrepreneurial DNA enables us to grow more dynamically and continue serving our customers with the quality and responsiveness they expect.”
Going local
Post-pandemic shifts in global supply chains have reinforced the importance of local procurement, a trend that Tiletoria has been leveraging.
Roughly 80% of its product range is now sourced locally, which marks a shift from 10 years ago, when products were mostly imported from Asia.
“The business sits at the intersection of localisation and infrastructure growth,” said Twantwa
“As developers and retailers look to strengthen domestic supply chains and support South African manufacturers, Tiletoria is well positioned to capture that opportunity.”
With Tiletoria’s growth already boosting the local manufacturing sector, the business’s expansion into construction and retail is also expected to create new employment opportunities, especially for first-time workers.
“Every mall that opens, every housing project completed, every retail fit-out done with our products has a human impact,” said Twantwa.
“We believe that investing in tangible, established businesses not only generates returns but strengthens the country’s economic backbone.”
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