Argent Industrial, which has among its businesses the manufacture of innovative overhead cranes, hoists and lifting equipment, has acquired the Ramsden Group in the UK.
Argent Industrial, through its subsidiary, Argent Industrial UK, has entered into share purchase agreements for the acquisition of the Ramsden Group in the UK, for £10.84 million (R238.19m).
South Africa-headquartered and JSE-listed Argent, which operates manufacturing, warehousing, and distribution businesses across multiple sectors, including steel trading, security products, and aviation refuelling systems in South Africa, the US, and the UK, entered into three separate share purchase agreements with the owners of the shares of the Ramsden Group.
The shares of Ramsden and Wale, Pallets Limited, and Drumcare Holdings, along with its owned subsidiary, Drumcare Limited, were acquired.
Argent directors said in a statement that the acquisition presents an opportunity to grow its business by further diversifying its portfolio of companies and to continue expanding internationally into the UK.
