A PE consortium led by Ethos Private Equity has announced its acquisition of 80% of RTT, a parcel distribution company, from Actis Capital. Other investors include Development Partners International (through its African Development Partners II fund) and Public Investment Corporation. For over 30 years, RTT has provided third-party logistics and break bulk and express distribution. Its fleet has over 1,200 vehicles, with the number of employees close to 5,000. Revenues are in excess of R2.5 billion ($234 million) per annum.