Reatile acquires 37.54% stake in Pragma Holdings
ENGINEERING NEWS / 08 FEBRUARY 2018 -14.03 / TASNEEM BULBULIA
Investment holding company Reatile Grouphas acquired a 37.54% stake in enterprise asset and facilities management company Pragma; thereby enhancing Pragma’s potential international growth, while accelerating the organisation’s transformation agenda.
Pragma CEO and founder Adriaan Scheeres indicated that the transaction results in 54.33% black ownership for PragmaAfrica.
IMAGE : Adriaan Scheeres and Simphiwe Mehlomakulu
“This is an important step in our transformation journey and we believe it will significantly strengthen our go-to-market positioning.”
Pragma Africa was awarded a Level 1 broad-based black economic empowerment rating in December.
“Our new shareholders will open up new growth opportunities for us through their extensive businessnetwork, starting with services in the oil and gas sector, where Reatile is a major player.
“From an international perspective, Reatile is also active in the European market and will offer opportunities to work with organisations such as Vopak,” said Scheeres.
Reatile chairperson Simphiwe Mehlomakulu commented that the company was invested in the energy, petroleum, chemicals, as well as the industrial space.
He noted that Reatile already worked with many international companies such as Vopak and Rubis.
“There are many opportunities to work with our international partners, which will enable Pragma to grow internationally.
Disclaimer - The views expressed here are not necessarily those of the BEE CHAMBER