ARB Holdings Limited (ARB) has acquired 60% of the shares in Eurolux (Pty) Ltd for a purchase consideration of US$10 million.
ARB Holdings is an investment holding company for businesses involved in the trading and distribution of electrical, lighting and related products to the mining, industrial, construction, parastatal, retail and domestic markets across South and southern Africa.
This acquisition forms part of ARB’s long term strategy to offer a diversified range of electrical and related industrial products to a wide range of industries and customers. As a trading and distribution business, Eurolux is strategically aligned with ARB’s core competencies and provides ARB with a unique opportunity to leverage its existing share of the lighting sector. The well branded range of high quality lighting products offered by Eurolux augment ARB’s extensive range of electrical products and are sold into a complimentary rather than overlapping customer base.
This transaction creates an opportunity to leverage both, ARB’s distribution network to accelerate growth within certain of Eurolux’s product categories and market segments, and Eurolux’s international procurement expertise and relationships to source other related products for ARB.
Eurolux was founded in 1991. It is one of the leading importers and distributors within the electrical industry of energy-saving light bulbs, fluorescent lamps and fans. The management team and previous shareholders of the company will continue to own 40% of the shareholding.
Oaklins' team in South Africa acted as financial advisor to the buyer in this transaction.
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