Bravura was mandated in 2017 by Forge Group (Pty) Ltd, a subsidiary of Westbrooke Investments (Pty) Ltd (“Westbrooke”), to advise on the disposal of Tecsa (Pty) Ltd (“TecsaReco”). Bravura managed a disposal process which resulted in Swedish multinational refrigeration group Beijer Ref AB (“Beijer Ref”) acquiring TecsaReco.
TecsaReco is South Africa’s leading importer and value added distributor of domestic appliance parts, domestic and commercial refrigeration components and air conditioning to the replacement and repair market, with 11 000 customers served by 23 outlets across Southern Africa.
Bravura conducted a wide international potential acquirer search, which resulted in multiple local and international trade and private equity entities providing indicative interest to acquire the business. Beijer Ref emerged as the strongest bidder.
Bravura worked closely with Westbrooke’s South African legal and competition commission advisors to structure the transaction in the most efficient manner, and to meet all the regulatory requirements.
The acquisition is expected to generate positive effects on both sales and results of Beijer Ref and TecsaReco in the long term.
Bravura is proud to have advised Westbrooke on their disposal of TecsaReco, with a transaction value of in excess of R400mil, and look forward to working with their team on future transactions.
Categories: News, Transactions
Published: 27 April 2018
