08 Apr Grobbelaar clocks up decade of success
Over the past 10 years, Nell Grobbelaar has grown from fresh-faced student to seasoned dealmaker, leading transactions worth billions of rand, after passing through the dealmakers programme.
The Star Awards’ Best Employee in the Chemicals and Textiles Division in 2015 is working towards 10 years of service at the IDC, which he is hoping to reach in December this year.
It has been a decade of hard work and big rewards for Nell Grobbelaar, who joined the corporation on 1 January 2007, at the age of 25. “But the highlights over the last 10 years, are definitely the quantum of deals I have participated in and led, of around R6-billion, and the transactions I have been involved in as a team member, of around R5-billion,” he says.
He arrived armed with a Bachelor of Commerce honours in accounting sciences degree from the University of Pretoria, as well as a Certificate in the Theory of Accounting, received in 2003. Grobbelaar completed his articles and qualified as a chartered accountant in December 2006, joining the dealmakers programme the following month.
It was a fast learning curve. He exited the financial discipline in September 2007, the technical discipline in April 2008 and was promoted to account manager, level II in May 2008. This rapid growth underscored the IDC’s foresight in choosing candidates with strong potential.
Making good on his promise, Grobbelaar was not content to rest on his laurels. He went on to exit the marketing discipline in August 2009, before being promoted to senior account manager, level I in June 2010, just over four years after joining the corporation.
Three years later he was appointed a non-executive director of Agni Steels SA, in October 2013, and again promoted, this time to senior account manager, level II in November 2014, and then reallocated as senior project development manager, level II in April 2015.
Over the decade, Grobbelaar’s transaction history has been impressive. He has participated as a team member in 46 deals totalling R10.641-billion, of which he has led 18 deals totalling R5.962-billion. These have ranged from the massive to the much smaller .
Foskor has been a recurring client. In March 2009, he was a marketing team leader on the R1.99-billion deal with Foskor’s BEE acquisition and dilution of IDC and Coromandel. He was the team leader on the approved R4-billion deal in November 2015; this followed his position as a financial team member on the R1-billion deal in March 2010 for the North and South Pit expansion project.
In another large deal as team leader, Grobbelaar was at the helm of the R680-million transaction with Sunrise Energy in February 2015.
It has been an impressive growth from one his earliest deals as a member of the technical team, for R3-million in March 2008 with Razco.
His work has not been restricted to South Africa, though. He was a member of the financial team on the R542.1-million deal in April 2009 with Ohorongo Cement in Otavi Namibia for the establishment of a greenfield cement plant in northern Namibia, as well as financial team member for a greenfield cement plant, Habesha in Ethiopia, during 2012.