Listed components manufacturer Control Instruments has acquired Gabriel South Africa for R82 million.
Listed components manufacturer Control Instruments has acquired Gabriel South Africa for R82 million.
Gabriel was acquired from US-based car component supplier ArvinMeritor, whose products include shock absorbers, struts and gas springs for the local aftermarket.
Its latest transaction will see Control Instruments expand its reach in sub-Saharan African markets. The transaction is expected to be finalised in October, and includes the Gabriel trademark and other “intellectual property”. Gabriel had a turnover of close to R295,5 million last year.
Richard Friedman, the managing director of Control Instruments, said the acquisition was in line with the group’s objective of increasing its car after-market offerings to niche segments within the southern African motor industry.
Its latest purchase is the third major acquisition in nine months. The group obtained Dana SA, a leading distributor of aftermarket components for the car and heavy-duty truck segments, in October 2005, and automotive plastics manufacturer Sagercy in March this year. The transactions were worth R115 m and R100 m, respectively.
