Torre Industries Ltd is an African industrial group which is listed on the Johannesburg Stock Exchange (JSE). This JSE industrial company provides equipment and machinery, auto parts, financing and support services to its customers in selected high growth markets in the industrial sectors across Africa. These sectors include but are not limited to the agricultural, automotive, construction, earthmoving, engineering, mining, manufacturing, and condition monitoring industries.
Torre Industries core business is the value added sale and rental of branded capital equipment and machinery, the distribution of high quality parts and components, the delivery of critical support services and the provision of financing solutions which are needed to support our customer’s expansion programmes.
The role of Torre Industries as an empowered industrial group in Africa is to support our subsidiaries in order to maximise performance and shareholder value. We are able to achieve this by centralising certain functions where high levels of capacity and expertise are required which are not normally found in the industrial businesses that we acquire, or where better terms can be obtained by utilising the combined buying power of the Torre group.
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Torre was listed on the JSE on 26th November 2012, replacing the listing of SA French Ltd. The name “Torre” was chosen by the founding shareholders out of respect for the history of SA French as the leader in the tower crane market in South Africa, but also to signal the intent of the new group to develop a robust and defendable business model.
On the date of its listing Torre acquired 100% of SA French in a 1-for-10 share swap. The company also raised ZAR30m of new equity via a private placement and acquired 100% of Forktech (Pty) Ltd, a Cape Town based business, engaged in sales and rental of branded forklift products.
- 1 June 2013 Torre finalized the acquisition of 100% of Tractor and Grader Supplies (Pty) Ltd, a value-added distributor of repair parts and components for mining and construction earthmoving equipment, following the completion of a ZAR80m private placement.
- 28 February 2014 Torre finalized the acquisition of 85% of Kanu Equipment Group, the exclusive dealer for Bell and Liebherr equipment in the Republic of Congo. Subsequent to the completion of the acquisition, the Liebherr and Bell agencies for Ghana, Ivory Coast, Liberia and Sierra Leone were also awarded to Kanu.
- 31 March 2014 Torre finalised the acquisition of 100% of Manhand (Pty) Ltd and its joining with Forktech to form a materials handling operation with a comprehensive and price competitive forklift, warehousing and forklift attachment offering. The combined business will have a distribution footprint across South Africa and has been incorporated into Torre Lifting Solutions.
- 30 April 2014 Torre finalised the acquisition of JSE-listed Control Instruments Group Limited and its relaunch as Torre Parts and Components following the completion of a ZAR300m private placement earlier in the month. The acquisition provides Torre with a leading position in the automotive aftermarket with a portfolio of self-owned and exclusively distributed brands that include Gabriel ®, the African market leader in ride control systems.
- 1 January 2015 Torre finalised the acquisition of 100% of Elephant Lifting Equipment, a specialist designer and supplier of a fully integrated range of lifting and pulling equipment with full service back up, testing and certification. In due course Elephant Lifting and Manhand will be combined with SA French and the three units will operate jointly under the umbrella brand of Torre Lifting Solutions.
- 13 May 2015 the acquisition of 100% of Set Point Group was finalised, along with a R350m private share placement to The Mineworkers Investment Company and Safika Holdings. As a result of the acquisition and the private placement Torre is now 27.1% owned by black South African investors.