Fleet management services company Afrirent has acquired South African bus manufacturer Busmark, marking a significant milestone in the country’s transport and manufacturing sectors.
The acquisition forms part of Busmark’s exit from business rescue as a going concern and positions Afrirent for strategic growth by integrating high-capacity vehicle manufacturing into its expanding service portfolio.
The transaction aligns with Afrirent’s broader strategy to combine fleet management, telematics, logistics, and vehicle manufacturing under one integrated offering. By bringing Busmark into the group, Afrirent strengthens its role within South Africa’s domestic transport infrastructure value chain while preserving the legacy and capabilities of a respected original equipment manufacturer.
Busmark, based in Randfontein, Gauteng, has been under business rescue since August 2021. Afrirent emerged as the successful bidder, acquiring 100% of Busmark’s shares to ensure its exit from business rescue as a viable, operating business.
The proposed transaction received unconditional approval from the Competition Commission in January, clearing the way for the deal’s completion.
“This acquisition is a commitment to the future of South African manufacturing. By bringing Busmark into our group, we are not only diversifying our service offering but also ensuring that a critical player in our nation’s transport sector can continue to innovate and deliver world-class vehicles,” says Afrirent founder and executive chairperson Senzo Tsabedze.
The acquisition is a cornerstone of Busmark’s adopted business rescue plan. Under Afrirent’s leadership, Busmark will transition from the oversight of business rescue practitioners into a stable, long-term growth environment.
This move safeguards vital industrial capacity and technical expertise, while also preventing job losses within the manufacturing operation.
Afrirent currently delivers fleet management and logistics solutions, maintenance services for light and freight vehicles, and data-driven fleet monitoring across both the public and private sectors.
Busmark complements this offering as a specialist manufacturer of bus bodies for commuter, semi-luxury, and coach buses, with additional expertise in specialised vehicles such as emergency service units and safari game-drive vehicles.
Afrirent also acknowledged the support of the Industrial Development Corporation of South Africa, thanking the national development financier for its role in supporting Busmark throughout the business rescue process and in concluding the transaction.