Black-owned investment holding company Thesele Group’s acquisition of a 35% stake in South African water and wastewater solutions provider Talbot & Talbot opens the door for Talbot & Talbot to access opportunities in the South African public sector and positions the company well among its peers in the domestic market, Talbot & Talbot CEO Carl Haycock tells Engineering News Online.
The acquisition has enabled the water solutions provider to improve its broad-based black economic empowerment rating from Level 8 to Level 2.
As a result of its Level 8 empowerment rating, Talbot & Talbot was previously effectively excluded from securing contracts with the public sector. It was also finding it increasingly difficult to secure work in the mining and industrial sectors in South Africa.
The improvement in its empowerment rating enables the company to secure more work in the domestic market and reach its aggressive growth targets.
Moreover, Thesele’s strategic connections to industry will help develop new relationships for the business in areas where Talbot & Talbot has not previously had a presence.
Haycock says Talbot & Talbot has always had people development at its core, which has seen the business invest in the career development of its employees.
“Through a fundamental belief in attitude and aptitude as opposed to qualification and experience, the business has developed staff, irrespective of colour, who had no formal qualifications and who otherwise would have had no opportunities, into competent, technical and highly skilled individuals.”
Further, the company has an internal bursary programme to support the development, growth and further education of staff who have ambition, he adds.
“In this way, Talbot & Talbot has, for many years, made a true contribution to transformation in South Africa and indeed elsewhere in Africa and we have seen and supported many of the staff that have grown within our business go on to join major international and global industries.”
The transaction with Thesele, concluded in March, has, fundamentally, helped Talbot & Talbot to further improve its transformation, which Haycock believes will, in turn, also contribute positively to the water sector in South Africa and in the rest of Africa.