Transaction Capital Limited, We Buy Cars (Pty) Ltd. - M&A Call Transcript
Welcome, everybody. Thank you for joining our webinar today. Transaction Capital is extremely pleased to announce an acquisition of a 49.9% stake in WeBuyCars. My name is David Hurwitz, I'm the CEO of Transaction Capital. And today, I'm joined by Faan van der Walt, the co-founder of WeBuyCars, the CEO of WeBuyCars and a significant shareholder in WeBuyCars. Together, we'll present the details and rationale of this exciting development.
The main point that I hope to leave you with this afternoon is that TC's opportunity to invest in WeBuyCars is an extraordinary opportunity. This investment is immediately value and earnings accretive to TC, converting interest income and undeployed capital into operating earnings. You will see that WeBuyCars is an exceptional business with a high-quality earnings track record proven over about 2 decades, high cash conversion rates and high organic growth prospects. It's an entrepreneurial founder-led business with Faan and his brother, Dirk, still actively involved and materially invested
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