Coastal pre-fab company set to expandEOS Capital acquires majority stake in Panel to Panel Increasing business lines and targeting growth, the partnership between EOS and Panel to Panel is set to benefit the local economy. EOS Capital has announced it acquired a majority 90% of the ordinary share capital of Panel To Panel.
Ten percent of the company remains with the previous owners. Negotiations were concluded and an agreement was signed on Tuesday last week. The transaction which amounts to millions is now pending approval by the Namibian Competition Commission.
EOS Capital chairman Johannes !Gawaxab was introduced and addressed the staff complement of 75 at the company premises located on the corner of Circumferential Road and Rooibank Street in Walvis Bay on Friday.
He assured them that there would be no retrenchments and noted that there has been a 40% reduction in the imports of prefabricated panels imports since 2012. According to him this alluded to the substitution by local production by yet another Namibian manufacturing success story.
“It shows that Namibia is taking the right steps towards industrialisation and local value addition in line with the government's Growth at Home strategy.
We are proud to be associated with such a challenger firm and plan to support Namibia's industrialisation drive and to participate in the growth expected for the company through widening product offering, establishing export market operations and developing additional business lines. We need all of you to cooperate to take the company to greater heights.”
!Gawaxab also said that the company had enormous potential for the provision of affordable housing with the high-standard and quality product it manufactures.
“We could provide much better housing as well as classrooms quickly. The product is very durable and has a lifespan of 20 years if it's properly maintained.”
Panel to Panel's financial director Jacques Crowther, concurred and said there are plans to widen Panel To Panel's product offering in the near future to serve a broader range of customer needs.
“We are looking forward to working with EOS to formalise and grow the business whilst maintaining the same excellent customer service and the passion for what we do.”
The insulated panel manufacturer was founded by entrepreneur Francois Kotze in 2005. The company supplies contractors and end customers across the country with insulated panels in their various applications such as cooling rooms, sterile environments and prefabricated houses.
Panel To Panel serves a diverse range of sectors including the fishing industry, abattoirs, lodges, pharmaceutical plants and the public sector.
The products are fairly resistant to shocks and this makes it attractive from a risk perspective.
From its humble beginnings, Panel to Panel grew from strength to strength into the leading manufacturer of insulated panels in Namibia and now even boasts with its own polystyrene plant.
Due to the scale and standard achieved, it offers well-priced and good quality products in comparison to local and international competitors.
EOS Capital is a wholly-owned Namibian private equity fund manager that is managing the Allegrow Fund in Namibia.
OTIS FINCK
Ten percent of the company remains with the previous owners. Negotiations were concluded and an agreement was signed on Tuesday last week. The transaction which amounts to millions is now pending approval by the Namibian Competition Commission.
EOS Capital chairman Johannes !Gawaxab was introduced and addressed the staff complement of 75 at the company premises located on the corner of Circumferential Road and Rooibank Street in Walvis Bay on Friday.
He assured them that there would be no retrenchments and noted that there has been a 40% reduction in the imports of prefabricated panels imports since 2012. According to him this alluded to the substitution by local production by yet another Namibian manufacturing success story.
“It shows that Namibia is taking the right steps towards industrialisation and local value addition in line with the government's Growth at Home strategy.
We are proud to be associated with such a challenger firm and plan to support Namibia's industrialisation drive and to participate in the growth expected for the company through widening product offering, establishing export market operations and developing additional business lines. We need all of you to cooperate to take the company to greater heights.”
!Gawaxab also said that the company had enormous potential for the provision of affordable housing with the high-standard and quality product it manufactures.
“We could provide much better housing as well as classrooms quickly. The product is very durable and has a lifespan of 20 years if it's properly maintained.”
Panel to Panel's financial director Jacques Crowther, concurred and said there are plans to widen Panel To Panel's product offering in the near future to serve a broader range of customer needs.
“We are looking forward to working with EOS to formalise and grow the business whilst maintaining the same excellent customer service and the passion for what we do.”
The insulated panel manufacturer was founded by entrepreneur Francois Kotze in 2005. The company supplies contractors and end customers across the country with insulated panels in their various applications such as cooling rooms, sterile environments and prefabricated houses.
Panel To Panel serves a diverse range of sectors including the fishing industry, abattoirs, lodges, pharmaceutical plants and the public sector.
The products are fairly resistant to shocks and this makes it attractive from a risk perspective.
From its humble beginnings, Panel to Panel grew from strength to strength into the leading manufacturer of insulated panels in Namibia and now even boasts with its own polystyrene plant.
Due to the scale and standard achieved, it offers well-priced and good quality products in comparison to local and international competitors.
EOS Capital is a wholly-owned Namibian private equity fund manager that is managing the Allegrow Fund in Namibia.
OTIS FINCK