News


Bosch Rexroth to acquire a 50% stake in the Hytec Group

July 2014 News

Bosch Rexroth plans to acquire a 50% stake in its sales partner Hytec Holdings, a wholly owned subsidiary of the Tesuco Group for an undisclosed sum. Hytec Holdings generated sales of almost R1 billion in the 2013/2014 fiscal year and employs 675 employees across its operations.

The transaction, which is subject to regulatory approval, will cement Hytec’s position as the leading supplier and manufacturer of hydraulic and automation components and fluid power solutions in Africa. Bosch Rexroth will have the option to increase its shareholding over the next few years to 100% of the Hytec Group. Power Team, a subsidiary company of the Hytec Group which specialises in hydraulic maintenance tools and torque tightening equipment, is excluded from the deal and will remain a wholly owned subsidiary of the Tesuco Group.

Left to right: Ingo Neuer: head of legal department Bosch Rexroth, Michael Burgess: CEO of Tesuco Holdings, Peter Daus: director regional management Bosch Rexroth and John Wingrove: group managing director of Hytec Holdings.
Left to right: Ingo Neuer: head of legal department Bosch Rexroth, Michael Burgess: CEO of Tesuco Holdings, Peter Daus: director regional management Bosch Rexroth and John Wingrove: group managing director of Hytec Holdings.

“Strategically the deal allows Hytec to gain closer synergies with a business partner with whom we already have strong ties, combining our complementary activities to achieve greater performance and increase our market share in sub-Saharan Africa,” says John Wingrove, group managing director of Hytec Holdings. “The best practice and technical knowledge that exists between the two businesses underpins what is a natural progression of our business growth,” he adds.

“This acquisition is an important step for Bosch Rexroth to increase its presence in Africa. As technical experts who know the local market well, the Hytec Group has been an important partner of ours for many years, so it is a natural progression for us to expand our presence in the region together with them. This acquisition brings together two premier organisations and reinforces our strong joint commitment to the African continent. Combining the best talent between our two organisations enhances our ability to deliver world-class solutions to our clients,” said Dr Karl Tragl, president of Bosch Rexroth AG.

Michael Burgess, CEO of Tesuco Holdings added: “From a Tesuco perspective, the deal affords Tesuco the opportunity to advance its existing business interests by optimising existing assets.”

Hytec’s existing 31 branches and operations across South Africa, Ghana, Mozambique, Namibia and Zambia will provide a strong basis for Bosch Rexroth to expand its network into Africa which is seen as a key growth area.

For more information contact Willem Gijzelaar, Hytec Holdings, +27 (0)11 979 4630, info@hyhold.co.za, www.hytecgroup.co.za





Share this article:
Share via emailShare via LinkedInPrint this page

Further reading:

From the editor's desk: Is additive manufacturing poised to go mainstream?
March 2021, Technews Publishing (SA Instrumentation & Control) , News
As digital manufacturing technology pushes its way further towards the production floor, additive manufacturing (3D printing) is emerging as a viable option to complement the more traditional methods ...

Read more...
Female talent switches on to engineering careers with ABB
September 2021, ABB South Africa , News
ABB’s Sustainability Strategy incorporates driving social progress, equality and diversity to create safe, fair and inclusive working environments and support community building.

Read more...
MESA Africa – call for papers 2021
September 2021, MESA Africa NPC , News
We invite you – the manufacturing community – to submit papers showcasing your success stories and inspiring ideas, coping under restrictions, and illustrating this year’s theme: The Art of the Possible: Manufacturing Without Limits.

Read more...
Hazardous locations seminar and cable gland training
September 2021 , News
The courses equip artisans and engineers with the skills needed to gain maximum benefit from Pratley’s electrical products.

Read more...
Endress+Hauser integrates concentration measurement specialist
September 2021, Endress+Hauser South Africa , News
SensAction was founded in 2008 and has been part of the Endress+Hauser Group since 2017.

Read more...
Omron joins The Valuable 500
September 2021, Omron Electronics , News
The Valuable 500 aims to get leaders of multinational companies to bring about changes in business, society and the economy so that persons with disabilities can realise their true potential.

Read more...
Endress+Hauser honours its inventors
September 2021, Endress+Hauser South Africa , News
More than 500 inventors gathered virtually for Endress+Hauser’s 21st Innovators’ Meeting.

Read more...
Neles to acquire the valve and pump businesses of Flowrox
September 2021, Neles South Africa , News
Neles has signed an asset purchase agreement to acquire the valve and pump businesses of the Finland-based technology company, Flowrox.

Read more...
Bosch Holdings celebrates 60 years
September 2021 , News
In 1961, it was inconceivable for the founders of Bosch Holdings to have known that 60 years later, the company would have expanded into a global operation.

Read more...
Danfoss completes acquisition of Eaton’s hydraulics business
September 2021, Danfoss , News
Danfoss has officially finalised its US$3,3 billion acquisition of Eaton’s hydraulics business, following confirmation of all necessary regulatory approvals and closing conditions.

Read more...