Benchmark International Successfully Facilitated the Transaction between Les Palmer and Letsema Holdings ("LETSEMA")

Benchmark International is pleased to announce the successful sale of the remaining assets of Marlyn Chemicals from Les Palmer to Letsema Holdings.

This transaction follows Letsema's acquisition of the operating businesses of Marlyn Chemicals and Marlyn Vulindlela and represents the final phase in the transition of ownership. The remaining assets sold have historically supported Marlyn's operations and form an important component of the group's long-standing presence in the South African mining chemicals sector. Founded by Les Palmer over three decades ago, Marlyn established itself as a leading distributor of speciality mining and water treatment chemicals throughout Southern Africa. The completion of this transaction brings closure to a successful business exit process and ensures that the assets remain under the stewardship of an owner committed to continuing the Marlyn legacy.

Founder of Marlyn, Les Palmer, commented on the transaction: "The sale of the remaining assets marks the conclusion of a significant chapter for Marlyn. I would once again like to thank Benchmark International for their professionalism, commitment, and guidance throughout what has been a complex process involving multiple transactions. Their support has been invaluable from start to finish. I would also like to thank Letsema for approaching each stage of the process in a constructive and professional manner. I wish them every success as they continue to build on the foundations that have been established over many years."

On behalf of Letsema, Group Executive: M&A and Partnerships, Keith van Niekerk, said of the transaction: "We are pleased to have completed this final phase of the Marlyn acquisition process. The assets sold form an important part of the broader Marlyn platform, and their acquisition further strengthens our commitment to the business and its long-term future. We appreciate the collaborative approach of all parties involved and thank Benchmark International for their continued guidance and support in bringing this transaction to a successful conclusion."

Benchmark International's Transaction Director Johann Haasbroek added: "Following the successful sale of the operating businesses, we are delighted to have assisted our client in completing the disposal of the remaining assets. This transaction concludes a carefully managed process and allows our client to achieve a full exit while ensuring continuity through a respected long-term investor. We would like to congratulate both Les and Letsema on reaching this milestone and wish them every success in their respective future endeavours."

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