Industrial supplies conglomerate Torre, which has endured a period of restructuring and consolidation following an acquisition spree between 2013 and 2015, is on the hunt for new opportunities again. Speaking after the release of year to end-June results on Wednesday, deputy chairman Jon Hillary said a degeared Torre was on the lookout for smaller bolt-on acquisitions and would also evaluate larger deals. “There are several bolt-on and standalone opportunities that we are currently reviewing … but, obviously, we won’t be as aggressive as we have been in the past.” In the second half of the financial year, Torre made two small acquisitions — Top Class Automotive (for a nominal sum of R1) and Transformer Chemistry Services for R17m. Top Class chipped in revenue of R11m and R1m to operating profit in the period from May to end-June. Chemistry Services contributed R2m to revenue and R500,000 to operating profit from April to end-June. The commitment to pursuing selective acquisitions fo...
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