Jasco buys power and energy solutions group
Listed technology group Jasco Electronics (JSC) advised on Monday that it has entered into an agreement to acquire 100% of the ordinary shares in Ferro Resistant Technologies from the founding shareholders and senior management, for R13 million.
FerroTech manufactures, supplies, designs, installs and maintains power and energy solutions. Its offering includes voltage stabilisers; uninterrupted power supplies (UPS), automatic voltage regulators, inverters, surge and lightning protection and transformers.
Jasco said that the acquisition is in line with its stated strategy of expanding the group through acquisitions of companies that deliver specific solutions, skill-sets and expertise that complement its existing portfolio.
The FerroTech acquisition broadens the offering of Jasco’s Industry Solutions vertical – which currently comprises security; control and monitoring; as well as building management solutions – by now also adding power optimisation to this vertical, it said.
“The vertical cross-selling opportunities within Jasco, such as the supply of UPS solutions, together with the additional sales channels to Jasco’s existing client base will enable Jasco to grow this business. Management believes the business has long-term growth potential underpinned by strong fundamentals,” it said.
Jasco advised on Friday that it expects headline earnings per share (HEPS) for the six months ended December 2011, to be between 80% and 100% higher than previously.
The group expects HEPS of between 6.3 cents and 7.0 cents per share.
The company reported revenue of R317.9 million for the six months ended December 2010, and a pre-tax profit of R15.9 million.
The firm expects to announce its results on about February 6.
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