Waldenburg/Edenvale, 7 August 2019 - R. STAHL, leading supplier of products and systems for explosion protection, has increased its stake in the South African distribution specialist for explosion protected devices, ESACO (Pty.) Ltd, Edenvale, by another 35% to a total of 70%. With the takeover of the majority, R. STAHL goes the next step in exploiting the African region's attractive growth potential even better.
"ESACO and R. STAHL join decades of successful collaboration which triggered our decision to take a first stake in our partner three years ago. The takeover of the majority now follows our strategic goal to further grow our business on the African continent and ideally combines our leading portfolio with ESACO's well established market position", said Dr. Mathias Hallmann, CEO of R. STAHL.
R. STAHL acquired a first 35% stake in ESACO, an owner-managed company headquartered in Linbro Park near Sandton/ Johannesburg, in 2016. ESACO was founded in 1975 and distributes R. STAHL's products since then. In 2018, the ISO 9001 certified company generated annual sales equaling EUR1.6 million. The purchase price of the now acquired further stake of 35% is equivalent to EUR0.9 million. Signing and payment of this transaction were already done in July 2019.
|Company:||R. Stahl AG|
|Am Bahnhof 30|
|Phone:||+49 (7942) 943-0|
|Fax:||+49 (7942) 943-4333|
|Listed:||Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Tradegate Exchange|
|EQS News ID:||853909|
|End of News||DGAP News Service|