Published: Thursday, 08 August 2013 15:20
Royal Bafokeng Holdings (Pty) Ltd, South Africa’s leading community-based investment company, has, subject to regulatory approval, secured a controlling interest in M-Tech Industrial (Pty) Ltd.
Royal Bafokeng Holdings (Pty) Ltd (RBH), South Africa’s leading community-based investment company, has, subject to regulatory approval, secured a controlling interest in M-Tech Industrial (Pty) Ltd (M-Tech). The deal increases RBH’s stake in M-Tech from 25.1% to 50.1% and shifts the multi-disciplinary engineering company into the position of an RBH subsidiary. M-Tech was formed 18 years ago by three academics, Professors Greyvenstein, Rousseau and Du Toit. The professors saw a gap in the market for a niche engineering consultancy that could fuse the academic world with the practical aspects of the industry. M-Tech now has offices in Sunninghill in Gauteng and in Potchefstroom in the North-West province, as well as a manufacturing facility in Potchefstroom.
Willie Landman, who took over as M-Tech’s chief executive officer as recently as July this year, says of the new move, “This is an exciting development for both parties. Our company has had a successful partnership with RBH since they came on board as a shareholder in 2007, and we welcome their increased investment. M-Tech has long recognised the importance of increasing our empowerment shareholding in order to accelerate transformation.”
Following this transaction, M-Tech will be a Level 2 Generic Enterprise BBBEE contributor with a BBBEE procurement recognition level of 125%.
The engineering company’s areas of specialisation include the design, analysis, optimisation and system integration of thermal-fluid systems such as coal, gas and nuclear power plants; turbo machinery; heat exchangers; desalination plants; and compressed air, water and gas networks. The company also designs and manufactures heat pumps; refrigeration systems; mine cooling systems; heating, ventilating and air conditioning systems and specialised test facilities. M-Tech has an excellent track record in the development and implementation of energy efficiency and demand-side management projects such as pump scheduling schemes on mines and large-scale heat pump water heating systems on commercial and industrial buildings. M-Tech has also developed the highly specialised Flownex thermal-fluid systems simulation software that it is marketing world-wide.
Commenting on the transaction, Albertinah Kekana, RBH CEO, said, “This deal is the culmination of a successful strategic partnership over a number of years and we look forward to working with Willie and his team to continue to grow their business. The deal is a further indication of our commitment to our Group’s diversification strategy, which seeks to lessen RBH’s reliance on mining as a source of wealth creation for the Bafokeng nation.”
For further information, please contact:
Willie Landman: CEO, M-Tech
Tel: 018 297 0326/7
Mobile: 083 257 8511
David Wilson: Strategic Investments,
RBH Tel: 011 530 8022
Mobile: 082 564 1640
Note to editors:
Further background information is available on the following websites:
www.mtechindustrial.com