South African company buys Smit Amandla Marine
African Marine Solutions Group (Amsol) has bought Southern Africa-focused specialist marine solutions provider Smit Amandla Marine from Netherlands-based maritime infrastructure company Royal Boskalis Westminster for €50-million, returning the company to South African ownership.
Amsol is owned by a consortium including Smit Amandla Marine management and employees, the Mineworkers Investment Company (MIC), Pan-African Capital Holdings and RMB Ventures.
Amsol MD Paul Maclons, who joined Smit Amandla Marine in 2004, noted that the business opportunity for a management buyout was the catalyst for this transaction. “We are excited to build a great South African company and to remain relevant to our clients in the energy, mining, ports and maritime sectors in the future.”
Delivering marine solutions to international standards to government and private sector clients, the company’s record and long-term partnerships have ensured substantial growth and value creation since Smit Amandla Marine was launched in 2015.
MIC CEO Mary Bomela believes the acquisition supports the objectives of government’s oceans economy programme that falls under Operation Phakisa.
“In facilitating the transformation of the maritime economy in South Africa, Amsol is now in a unique position to support the continued growth and transformation of the sector in the region – with the transaction including Smit Amandla Marine’s business in Namibia and Mozambique.
“They bring their market leadership and expertise to the acquisition and have been guided by a strong management team. We look forward to all the possibilities and how this will create a difference,” she added.
The sale of the business to Amsol is in line with a stated commitment by shareholders to capacitate the company over time and return it to 100% South African ownership.
This ensures that the business remains relevant in its chosen markets, which include Africa and the Indian Ocean Island region, and enables it to continue to meet expectations of local and international clients.
Looking ahead, the company’s strategy will support sustainable regional economic transformation in a niche industry where barriers to entry remain high.
Smit Amandla Marine will transition to the Amsol brand by the end of the year.
Comments
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