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RMB Corvest and Shalamuka Capital have acquired a minority stake in Process Automation, a South Africa-based company, partnering with CEO Larry Smith, who retains majority ownership. This transaction follows the exit of Evolve Capital Partners and aims to support Process Automation's growth across Africa and select international markets.

The partnership intends to enhance manufacturing capabilities, advance the product portfolio, and expand the company's presence. According to RMB Corvest, Process Automation's capital-light export model and established reputation position it well for disciplined expansion, particularly in the mining sector across Africa and Latin America.