AfriSam acquires an equity stake in Concrete Laser Flooring
AfriSam has acquired an equity stake in Concrete Laser Flooring (CLF), with an option to increase its shareholding over the next two years.
The acquisition will extend AfriSam’s product and service offering beyond the supply of construction materials, as well as affording it a unique advantage to build closer relationships with its customers.
“This acquisition fully aligns and supports AfriSam’s growth strategy to partner with well managed entrepreneurial companies to achieve vertical integration advantages,” Stephan Olivier, CEO of AfriSam, comments. “Our partnership enables both companies to leverage synergies and enhance value-delivery to our customers.”
“CLF has gained a strategic alliance with a leading supplier of the materials that form the foundation of our business. I look forward to the potential benefits our company will derive from a partnership with AfriSam,” Peter Norton, CEO and founder of CLF, says.
CLF offers specialist flooring and concrete solutions to customers through the use of sophisticated equipment, bespoke designs and innovative applications. The company has over 80 employees and has offices in Johannesburg, Cape Town and Durban.
More information from Maxine Nel, Tel: +27(0)11 670 5893 / www.afrisam.com
AFRISAM ACQUIRES CLF PIC 01: Stephan Olivier, AfriSam CEO (left) and Peter Norton, Concrete Laser Flooring CEO, (right) sign the acquisition agreement.