Weidmüller sells company to local management
January 2001
News
Weidmüller will be trading under the new name RAD Interface, following a successful management buyout headed by the current Managing Director Derrick Mulligan. Weidmüller will still be represented by the new company, as the exclusive distributor of all Weidmüller product sales in southern Africa. Weidmüller has been operating as a subsidiary in South Africa for over 28 years and the buyout signifies a strategic initiative on the part of the local management and parent holding company to allow the local management to hold a stake in the success and future of the company. Weidmüller started out as Klippon Electricals under the UK-based company in 1971 and was officially changed to Weidmüller in 1991 under the German holding company. The company has had a successful growth record and is a key player in the electrical interface and connector market in southern Africa.
Derrick Mulligan signing the sale of shares and exclusive distributor agreements in Detmold, Germany with the Executive Board Chairman of Weidmüller, Thomas Hagen
The senior management team comprised of Derrick Mulligan (current Managing Director), Alex Lockyer (current Sales Manager) and Rodney Beresford (current Financial Manager) have purchased all shares held by Weidmüller. "It is the birth of a new era for the company," said Mulligan. "This change allows us to grow even stronger in terms of our support to our key accounts and distributors alike. We are thankful to Weidmüller for this opportunity and know we can take the company to new heights in the next 28 years". The new company RAD Interface will continue its focus on supplying industry in southern Africa with quality interface products in the areas of process and industrial automation as well as transportation. The company presently is exclusive distributor for other key suppliers in Europe and this has grown and will be enhanced in the future. "We will be aggressively pursuing new interface product opportunities in the future" said Mulligan; "Our customers are the ones that lead us in this endeavour!"
In essence nothing will change for the customers supporting Weidmüller products. Mulligan stated, "We will focus on our core business only, being the sales and marketing of interface and associated products with the intention of investing profits into expansion and development of our employees and product base."
RAD Interface
(011) 452 1930
[email protected]
www.radinterface.co.za
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