Charles Pettit’s opening gambit at ELB is to look for bargains
Adding Torre assets to the ELB/Apex/Sabvest game will make for some interesting moves
A few weeks ago this column noted the emergence of Apex Partners — headed by the irrepressible deal-maker Charles Pettit — as a 15.15% shareholder in industrial supplies and services group ELB. So perhaps it is no surprise that ELB is now undergoing changes at an executive level with Pettit appointed group CEO.
Long-serving CEO Stephen Meijers will step down as group CEO, but will remain CEO of ELB Engineering Services. The operational status quo at subsidiary level also remains with Peter Blunden staying on as CEO of ELB Equipment, and Christopher Malan as CEO of ELB Equipment Australia...