US firm LWI acquires Cape Town Sage specialist AWCape
Lescault and Walderman (LWI), a US firm that provides technology-driven accounting and finance services to small to medium businesses, has bought a majority stake in AWCape, a South African Sage business partner, for an undisclosed sum.
The company is also acquiring a minority stake in Applico, a Sage-authorised learning partner in the AWCape stable.
LWI is acquiring the shares in the two businesses held by their founder, Henri Hattingh.
“The acquisition results in the merger of LWI and AWCape, which are both Sage Intacct partners in their respective regions,” the companies said in a joint statement. Sage Intacct is a cloud-based financial management platform aimed at finance professionals.
“AWCape is one of South Africa’s foremost consulting, implementation and cloud hosting partners for Sage Intacct, Sage 300cloud, Sage Business Cloud Payroll Professional and Sage 300 People, while Applico … offers training and implementation solutions for Sage solutions both independently and in partnership with AWCape.”
The acquisitions will give LWI access to Sage Intacct implementation skills to provide into the US market. The company will invest in growing its South African workforce and developing local talent in contribution to both its US and South African business strategy.
AWCape is a big player in South Africa’s human resources and payroll solutions market, with about 700 businesses on its client list. “The company will continue to grow and invest in this set of solutions, with a vision to establish a larger base of South African clients beyond the Western Cape,” it said.
Hattingh will remain with AWCape and Applico as a director to ensure a seamless transition. However, he plans to focus his energies on growing AWPower, a company that focuses on renewable energy solutions for the residential and commercial markets. – © 2023 NewsCentral Media
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