Photo caption: Andrew Sturrock, CEO Sturrock Grindrod Maritime and Marcus Twine, CEO Novagroup
Said Andrew Waller, CEO Grindrod: “We have advised that we are looking to “scale up” our businesses. It is important that these acquisitions support our existing core expertise and that they contribute to unlocking trade corridors for our valued customers. This acquisition of a good footprint, agencies and people will do exactly that. We will continue to look at further opportunities to enhance our service offering to customers”.
Grindrod, recently announced the acquisition of the Novagroup (Nova) from Pescanova. Established in the sixties to deliver support services to the maritime industry, the business has grown to be leading providers of marine and aviation rescue and survival equipment, container storage, shipwright, depots, bespoke engineering and support services.
The services provided by Nova dovetails with Grindrod existing businesses, specifically the provision of marine and aviation rescue and survival equipment and Nova’s United Container Depot (UCD) business. These businesses complement Sturrock Grindrod Marine Tech (SGMT) and Grindrod Intermodal respectively.
Said Andrew Sturrock, CEO SGM: “The intention is to strengthen our position in the niche marine technical market. This acquisition will enable us to leverage off the respective sales and servicing agreements of both SGM and Nova, with a view to enhance our already impressive range of services and to increase our comprehensive product offering to the marine and shore-based industries we serve.”
Newly appointed CEO Grindrod Intermodal, Mahmood Simjee said: “We are very pleased to be in a position to provide the solutions required by Shipping Lines from a wider footprint in southern Africa.”