The Barnstone group has successfully launched and managed a variety of new ventures
Barnstone Education was started in 2013 with the objective to create affordable private schools in newly established mid-income housing developments. Barnstone partnered with Prestige College, a well-established private school in Hammanskraal, for academic expertise. A joint venture was created with the Old Mutual and PIC managed Schools and Education Investment Impact Fund of South Africa (SEIIFSA). Funds were raised for the development of six schools by 2020.
The first school was constructed in Thornview, Soshanguve, north of Pretoria and opened its doors in January 2015. Currently there are more than 1 400 learners from grade R to 12. Full capacity of 1 655 learners will be reached in 2017.
The second school is currently under construction in Crystal Park, Benoni and will open in January 2017. Land has been secured for the development of a further four schools around Gauteng. Barnstone Education is responsible for the development of the schools, as well as the day-to-day management and delivery of quality education.
Barnstone Education is also preparing the launch of a Teacher Training and Leadership Development Academy aimed at improving teaching skills and capacity.
Barnstone LS is a specialist business advisory consultancy advising clients since 2008 on business transformation, leadership and governance, portfolio management and stakeholder management. The business is 51% black owned through the shareholding of the LSIG Group, owned by CEO Lindani Sigxashe. Barnstone holds the remaining 49% shareholding.
Transnet, Sasol, KWV, Aurecon, Standard Bank, The Departmet of Transport, World Bank, AECI, Ivanplats, SAB, The Presidency, Treasury, Impala Platinum, Northam, Allan Gray, EuropAssist, DAWN, BVi, Mercantile Bank and Sun International.
Victus Capital is managed by Barnstone. It invests in commercial property and private equity opportunities. The company participates in joint ventures with both Rabie and Atterbury Property. These ventures developed and own prime office space such as the Aurecon buildings in Cape Town and Lynnwood Bridge, as well as the Deloitte building in Pretoria. Victus Capital is a 30% shareholder in Barnstone Education. Since inception in 2007, more than 80 shareholders have averaged returns in excess of 23% per annum.
Barnstone acquired Maxwell Technology in 2008 with the objective to provide satellite-based data communication to mining companies throughout Africa. The global financial crisis put an end to the strategy and Maxwell had to be repositioned in a new market. The company then developed voice and data communication services for people in rural areas. The success of this revised strategy led to the company being bought by the international Paratus Telecom Group.
Barnstone Corporate Services was created in 2005 as a specialist SAP implementation and support business to the mining industry. The company developed the SAP® Mining Solution. This is pre-configured solution has been designed specifically for junior and mid-tier mining companies and allows for rapid implementation in less than 100 days. Clients include Optimum Coal, Roshcon, Samancor, Exxaro, Arcelor Mittal, Eskom, De Beers, PPC, Implats, Kalagadi Mangenese, Kumba and Lonmin.
In 2015 the company was sold to the management team and TSS Capital, a BEE partner. It now operates as Terra Tec Mining and Exploration Solutions.
Barnstone Fraud Risk services acquired the distribution and implementation rights for the continuous transaction monitoring system Oversight. SARS became the first South African entity that implemented the software. The Fraud Risk business was later merged with Barnstone’s Corporate Services consulting business and subsequently sold to TSS. It now operates under the Terra Tec brand.
Barnstone ventured into the health care industry through the creation of two specialist product providers. Spiramed is a leader in wound care treatment while Octans is an importer and distributor of medical equipment. Both businesses have been acquired by more established players in the industry.