We are pleased to announce that BedRock has concluded a sale of equity agreement with TWK Agri (Pty) Ltd- external link whereby TWK acquired a strategic equity stake in the issued share capital of BedRock.
This agreement is in line with BedRock’s ongoing transformation and in pursuance of our communicated strategy. We have no doubt that the TWK will be able to add significant value to the company going forward.
This transaction became unconditional on 1 May 2017, and as such, BedRock will become part of the TWK family. This investment will support BedRock in its long term strategy to remain the market leader in underground support products in the Mining Industry, as well as in the Industrial Dunnage market.
This acquisition is aligned with the growth and value adding strategy of the TWK Timber division, and will give BedRock access to significant timber resources, support services and will also act as catalyst for the succession planning policy of BedRock.
Some of the synergies that will be explored include skills transfer, employee development opportunities and best practice in manufacturing operations. Given a broader access to capital, potential acquisitions in the support related fields could also be explored as opportunities present.