Hudaco acquires two new companies
JSE-listed industrial products provider Hudaco has acquired the trading assets and liabilities of consumables importer All-Trade, as well as specialised engineering and tool steel distributor Sanderson.
The total consideration for the All-Trade acquisition would depend on the average profits over the two-year earn-out period, but could see an initial payment of R16-million and a maximum of R33-million.
Similarly, the consideration for Sanderson would depend on the average profits over the three-year earn-out period, with an initial payment of R20.3-million and a maximum of R45-million.
All-Trade distributed specialised fasteners, including bolts, nuts, screws and other consumables sourced from leading overseas and local suppliers. Its product range complemented that of FTS, an established operation within Hudaco’s Rutherford division, that distributed rivets.
Sanderson distributed solid, round, square, hexagonal and hollow-bar steel, as well as provided heat treatment at its Johannesburg and Cape Town branches. This complemented the existing Hudaco business of Ambro Steel, which incorporated Midrand Special Steels and Don Steel.
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