In a R1 billion transaction that tested the limits of conventional deal-making, Differential Capital has successfully completed the acquisition of one of Southern Africa’s most technically accomplished underground mining contractors, following the collapse of the Murray & Roberts group. 

Murray & Roberts Cementation officially rebranded as Cementation Africa in July 2025, after the conclusion of a business rescue process in which a Differential Capital-led consortium acquired the former mining assets of Murray & Roberts Ltd. The transaction — which saved 1 934 jobs and positioned the business for a new chapter of continental growth — was nearly two years in the making. Differential Capital identified the opportunity at a time when most institutional capital was distancing itself from distressed assets in a sector under pressure.