Capital Eye Successfully Exits GAAP Point-of-Sale

In the late 1980’s Jean-Paul D’Abbadie (GAAP MD) was a Durban student when his father asked him to help out in the then fledgling point-of-sale business. The first restaurant to adopt GAAP software was ‘Razzmatazz’ in Umhlanga (South Africa), followed soon by ‘Langoustine by the Sea’. The references received from those two stores propelled the business to the next level; franchises.

By 2001, GAAP had a staff complement of 15 people and 300 customers largely dominating the Durban Market. At this point Capital Eye Investments Limited (“CEI”) (then UCS Group Limited) purchased an equity stake in the company. The investment of a then JSE-listed shareholder made financing new equipment easier and, with the strategic intention to position the business nationally, kick-started GAAP’s accelerated growth.

GAAP now employs over 200 people with a customer base in excess of 3800 outlets including many of South Africa’s most loved franchises, and is well positioned both locally and internationally.

CEI is a private equity / venture capital company focusing purely on technology and associated assets, with a particular focus on emerging markets and the opportunities present in many African regions, investing behind both start-up and mature cash generating technology companies.