INDUSTRIAL AND ENGINEERING
Invicta to raise market share as subsidiary agrees to buy Forge
Invicta Holdings subsidiary Invicta SA Holdings had entered into an agreement to buy Forge Industrial Group, it was announced on Thursday. The value of the deal, which will entrench Invicta’s position in the industrial and engineering industry, was not disclosed. Christo Wiese is a major investor in Invicta, a provider of capital equipment and engineering solutions. Forge will form part of Invicta SA’s Engineering Solutions Group, which makes up about 47% and 48% of Invicta’s sales and earnings before interest and tax, respectively. Forge comprises importers and distributors of engineering-related products, machine tools and industrial conveyer belts and components. The company operates through 11 branches in SA, including three distribution centres in Gauteng, and sells more than 110,000 line items. In 2011 the commercial and industrial interests of private equity firm Westbrooke were merged into an industrial business that became Forge. Mpho Mokotso, an analyst at Avior Capital Ma...
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