JSE-listed security barrier system specialist Trellidor has acquired a 92.5% stake in each of blind manufacturer Taylor Blinds and Shutters and moulding distributor NMC for a combined R147-million.
Trellidor CEO Terry Dennison said a major reason for the company’s listing in October last year was to raise capital for growth through acquisitions in the security and home improvements sectors, and for further expansion into Africa where it already had a presence in 17 countries.
He noted that the acquisition would provide Trellidor with additional strong brands, such as Shutterguard security shutters.
“These brands are complementary to our own, enabling us to extend our operations into new market segments. The acquisition also gives us the opportunity to diversify into the lucrative home improvements sector, which we see as complementary to the barrier security sector,” he said.
The effective cash purchase price would be settled in two tranches, with an option of Trellidor shares in the case of the second. The payment of the second and smaller tranche would be dependent on Taylor Blinds’ profit performance in the 12 months to April 2017.