Motseng buys Selmec and Mozambican unit

Posted On Friday, 01 February 2013 07:59 Published by eProp@News
Rate this item
(0 votes)

Motseng Investment Holdings, a diversified holding company with core operations in property investment and services, said last week that it had acquired infrastructure services group Selmec as well as Unimedia, Selmec’s Mozambican operation.

Motseng chief investment officer Bruce Zungu said the acquisition of the Selmec group was "part of our well-established strategy of growing our asset base in property and property-related assets".

Mr Zungu said Motseng was "in one of the most exciting periods of growth and acquisitions" in its history".

Motseng is JSE-listed Delta Property Fund’s property management company.

The company said the acquisition would further strengthen Motseng’s facilities management capabilities both in South Africa and Mozambique.

The Selmec group consists of diverse facilities maintenance companies operating in both countries.

"We are delighted to add the Selmec group to our portfolio, given their world-class service offering in the facilities maintenance industry, including a strong presence in Mozambique," Motseng chief operating officer Ipeleng Mkhari said.

Mr Mkhari said there were "significant synergies and an opportunity to rationalise costs, whilst creating a formidable services offering in the facilities maintenance sector for our existing and future clients".

Selmec founder and CEO Ben Pienaar said Motseng’s track record and culture provided a "natural home" for Selmec.

"Motseng is one of the most focused and entrepreneurial groups in South Africa and I believe that their acquisition of the Selmec group will exceed the high expectations of customers," Mr Pienaar said.

Most Popular

The next wave of property development in Africa is coming

Jul 31, 2019
The past decade has seen South African property developers and investors forge their way…

SA focused REIT Dipula makes bid merge with SA corporate real estate

Jul 31, 2019
Dipula Income Fund, a diversified, South-African focused and Black-managed REIT, today…

Vukile’s Spanish assets top €1bn, and it gets a credit ratings upgrade

Aug 02, 2019
Vukile Property Fund today announced that its listed Spanish subsidiary, Castellana…

Growthpoint Investec African Properties steps up its acquisition trail in Africa

Aug 06, 2019
Growthpoint Investec African Properties (GIAP), the pan-African real estate investment…

Credit and mortgage balances in the first half of 2019

Jul 31, 2019
Jacques Du Toit Absa Home Loans
Credit and mortgage balances in the first half of 2019, with divergent home loan…

Please publish modules in offcanvas position.