Anchor Industries announces BBBEE restructuring deal

Anchor Industries, leading supplier of innovative products and services to the marine and offshore mooring, as well as lifting and rigging industries, has concluded a partnership deal with Matasis Investment Holdings.

On conclusion of the existing institutional 5-year partnership with Old Mutual Investment Group South Africa (OMIGSA); and with new horizons in sight, the company commenced strategic discussions and negotiations with Matasis. This imperative business decision resulted in a partnership for the new entity consisting of Matasis acquiring a 55% equity stake, Anchor Industries’ management owning 30%, and the Anchor Industries BBBEE Staff Share Trust holding 15% of the company’s equity.

“We are exceptionally pleased to invest in Anchor Industries. Although Matasis will not be involved in the daily running of the company, we will actively add strategic value by working closely with the management team,” says Yusuf Vorajee, Matasis Chief Executive Officer and Anchor Industries Non-Executive Director.

With the change in shareholding Anchor Industries is now a 70% black and 39.69% PDI Female owned company. Local clients benefit from the new partnership as they will be supplied and serviced by a level 3 BBBEE company. International clients will gain from the vast experience and know-how of the new board members with the assurance that Anchor Industries continues to be managed according to the ISO9001 quality management system. This is important for growth, and future acquisitions for the company, as our preeminent BEE credentials will flow to our subsidiaries as well. Additionally, the Anchor Industries Staff Trust (AIST) will continue to extract value from the company.

It remains Anchor Industries’ priority to supply a diverse range of products and services, while keeping within their areas of expertise. This year alone the company has extended their offering by adding two new products, Codipro and FieldID to their Lifting and Rigging range. Striving for continuous company growth, the new shareholding will see a gradual increase in resources to ensure sustainability.

We look forward to a fruitful and mutually beneficial relationship between Anchor and Matasis,” says Dale Hutcheson, Managing Director of Anchor Industries. “In addition to the current partnership, we are also in discussions regarding possible synergies and partnerships with other Matasis’ investee organisations to prospectively expand Anchor into the rest of Africa.”