Grant Thornton Capital announces strategic acquisition of First Light Administration Services
13 October 2011 Grant Thornton Capital, one of the country’s leading independent financial advisory businesses for over 20 years and a subsidiary of Grant Thornton South Africa, has announced the total acquisition of First Light Administration Services (First Light), formerly a wholly owned subsidiary of Sekunjalo Investments, a JSE listed company. First Light, established 11 years ago, is a well-known retirement fund administrator providing services to listed and privately owned employers. The company will integrate into Grant Thornton Capital’s employee benefits division, specifically into the retirement fund administration business. “The acquisition of First Light sees Grant Thornton Capital being the administrators to over 80 000 member records,” says Gary Mockler, executive chairman of Grant Thornton Capital. “This accounts for over 300 participating employers with assets of some R6bn under management and administration.” Bruce Knight, managing director of First Light, says:... Read More
