Hudaco acquires SBS, conditions of Dunford acquisition met
JSE-listed Hudaco Industries on Thursday announced that it had acquired the assets and liabilities of imported battery distributor Specialised Battery Systems (SBS).
The final total consideration payable by Hudaco would depend on the company’s average profits over the three-year earn-out period, with an initial payment of R32.5-million and a maximum total payment of R75-million.
All suspensive conditions pertaining to this transaction had been met, Hudaco said.
Further, the group also advised shareholders that all the suspensive conditions of its acquisition of the Dunford Group had been met.
Hudaco, in November, announced it would spend a maximum of R154.3-million on buying out the Dunford group of businesses, which comprised Dosco Precision Hydraulics, Gear Pump Manufacturers, Joseph Grieveson and Engineering Technology Services.
The group said Dunford, whose main areas of interest were the machining, repair and sale of hydraulic pumps, and the production of ferrous and nonferrous castings, was an “ideal fit”, as it focused on selling industrial products – an area of core competency for Hudaco.
“We will be able to use our experience and expertise in these markets to enhance Dunford’s position, resulting in long-term benefits to shareholders,” Hudaco said in a statement.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
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