Rens CIT has been operated for the last 12 years in the Northwest-and Gauteng Province. Mr. Christo van Rensburg was the sole shareholder.
The operation was based from Brits (North West) and it provided services such as CIT, Cash Processing and Close Protection Services to mainly SME (Small and Medium Enterprises). Main Sectors of engagement were the Fuel Retailers, Retailers, Manufacturing, Mining and the Education Sector.
Rens CIT serviced areas such as Brits, Hartbeespoortdam, Pretoria, Midrand and Johannesburg and had an immaculate risk history.
During 2015 Mr. Christo van Rensburg decided to unbundle his company and to sell the CIT (Cash-In-Transit), Cash processing and CPO (Close Protection Officers) Operation.
Mr. Albert Erasmus, the then CEO of G4S South Africa engaged Mr. Van Rensburg in his private capacity and submitted an offer to purchase this part of the Operation. The offer included a plan to establish a new legal entity and to purchase only the contracts (CIT, Cash Processing and CPO) and all the weapons.
As part of the agreement it was agreed that the new entity would take over all the staff of Rens CIT.
Christo also indicated that he would want to retain shareholding in the new entity.
The transaction was concluded in December 2015 and the new entity was named Izicash Cash Solutions (Pty) Ltd.