enX acquires WAI for R250m
JSE-listed Industrial energy group enX has acquired Durban-based reseller and distributor of polymer, rubber, fillers and specialised chemicals West African International (WAI) for R250-million.
The acquisition of WAI, which also distributes oil lubricants produced by ExxonMobil to Caterpillar dealerships in Southern Africa and the Indian Ocean islands, was expected to bolster the size of enX’s Fuel and Chemical cluster and consolidate the Mobil distributorships of both businesses.
“Not only will it bolster our fuel and chemicals cluster, but the combination of our Mobil businesses will enable us to benefit from economies of scale, reduce per unit operating costs and generate revenue synergies,” said enX CEO Paul Mansour.
He added that enX was acquiring a strong, profitable and cash-generative business with an experienced management team and an established distribution platform that would allow it to introduce new products at little additional overhead.
WAI CEO Brent Hean pointed out that the deal would bring its chemicals business into a growing listed industrial platform.
“Management is taking a large part of the purchase consideration in enX shares, as we want to play a key part in growing enX. Bringing the lubricants businesses together gives us the scale we need to drive returns. We have also built a sub-Saharan African platform which we believe will give enX access to new distribution channels and customers,” he added.
enX would, after completion of the acquisition, hold an estimated 4% of the oil lubricants market share in South Africa.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Rittal is a world leading provider of top-quality integrated systems for enclosures, power distribution, climate control, IT infrastructure and...
VISIT SHOWROOM
Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
