{"id":9136,"date":"2012-04-04T09:58:11","date_gmt":"2012-04-04T07:58:11","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=9136"},"modified":"2012-04-04T11:13:58","modified_gmt":"2012-04-04T09:13:58","slug":"arb-subsidiary-buys-industrial-cable-suppliers","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/trending\/9136\/arb-subsidiary-buys-industrial-cable-suppliers\/","title":{"rendered":"ARB subsidiary buys Industrial Cable Suppliers"},"content":{"rendered":"<p>ARB Electrical, a subsidiary of <a title=\"ARB Holdings\" href=\"http:\/\/businesstech.co.za\/forum\/showthread.php\/1760-ARB-Holdings\">ARB Holdings (ARH)<\/a>, and an independent distributor of electrical products &#8211; such as power cables, overhead line conductors and equipment &#8211; has concluded the purchase agreement for <a title=\"ICS - Industrial Cable Suppliers\" href=\"http:\/\/businesstech.co.za\/forum\/showthread.php\/1761-ICS-Industrial-Cable-Suppliers\">Industrial Cable Suppliers (ICS)<\/a>.<\/p>\n<p>The purchase price, payable in cash, is based on a premium of approximately 14.7% to the net tangible asset value of ICS.<\/p>\n<p>ARB Electrical and the ICS vendors &#8211; consisting of DSC Investment, <a title=\"Sasfin\" href=\"http:\/\/businesstech.co.za\/forum\/showthread.php\/1673-Sasfin-Securities\">Sasfin Private Equity Investment Holdings<\/a> and Neville Nathan Kobrin &#8211; have agreed that the share purchase price will not exceed R55 million, taking into consideration the current claims on shareholders&#8217; loan accounts of R3.33 million.<\/p>\n<p>Kobrin, the incumbent MD of ICS, has entered into an employment and\/or consultancy agreement with ICS from the effective date for a period not exceeding 12 months, in order to facilitate a smooth handover of the operations to ARB Electrical.<\/p>\n<p>ICS, an independent specialist distributor of low-, medium- and high-voltage power cables and electric wire products, will become a subsidiary of ARB.<\/p>\n<p>Through its two strategically-located branches in central Johannesburg and in Rustenburg, ICS supplies the mining sector, local industry, electrical contractors and other electrical wholesalers.<\/p>\n<p>ARB says that ICS is a natural fit for the group given its strong reputation, operational similarity and strategic geographic footprint. \u00a0It aims to further establish itself within the mining sector, and would extend ARB Electrical&#8217;s national branch network to 17 branches across SA.<\/p>\n<p>\u201cARB is of the view that the ICS acquisition will be earnings- and value-enhancing from the outset,\u201d it said.<\/p>\n<p><strong>Related article<\/strong><\/p>\n<p><strong><a title=\"BusinessTech Article\" href=\"http:\/\/businesstech.co.za\/news\/electronics\/5844\/arb-holdings-interim-heps-up-4-to-15-69c\/\">ARB Holdings interim HEPS up<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>ARB Electrical, a subsidiary of ARB Holdings (ARH) has concluded the purchase agreement for Industrial Cable Suppliers (ICS).<\/p>\n","protected":false},"author":9,"featured_media":5848,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[25,2234,2235],"class_list":["post-9136","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trending","tag-active","tag-arb-electrical","tag-industrial-cable-suppliers"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/9136","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=9136"}],"version-history":[{"count":6,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/9136\/revisions"}],"predecessor-version":[{"id":9140,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/9136\/revisions\/9140"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/5848"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=9136"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=9136"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=9136"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}