BMG – Bearing Man Group – has concluded a sale of share agreement for the purchase of 70% of the shares of Wegezi Power Holdings. The company’s management team will retain the balance of the shares.
Companies in the Wegezi Group – Wegezi Electric Machines, VG Pump and Valve and Electric Motor Re-manufacturers – were amalgamated to facilitate this transaction with BMG. Wegezi, established as a motor rewinding company in 1981, has diversified into the manufacture and repair of transformers, electric switch gear, panels and pumps. The company also offers an on-site repair service.
“We believe the acquisition of Wegezi Power Holdings will make a meaningful contribution to the growth of BMG. This acquisition significantly extends the product range and services offered by the Group, particularly the repair of electric motors,” says Charles Walters, BMG’s CEO. “The Wegezi transaction supports BMG’s strategy to expand its business through select value adding acquisitions. BMG continues to differentiate its business through specialist services that include technical advice on energy savings and production efficiency, condition monitoring and maintenance, on-site maintenance support, repair services for bearings, gearboxes, electric motors, hydraulic systems and pumps, as well as customer training.
Clive Gurney (left) CEO, Wegezi Power Holdings, with BMG CEO, Charles Walters
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