Maritzburg water heavyweight inks big BEE deal
27 March 2019 | Web Article Number: ME201914155
PIETERMARITZBURG-based global water and wastewater company, Talbot & Talbot and Thesele Group, a 100% black-owned investment holding company, today announced the conclusion of a substantial equity transaction, in which Thesele acquired a 35% stake in the business in support of Talbot & Talbot’s ambitious growth objectives. Johannesburg-headqurtered Thesele’s entry into the water industry represents a strategic addition to its diverse portfolio which includes major interests in financial services, industrials, transport and logistics.
“In addition to enabling us to make a significant, positive change in the empowerment of Talbot & Talbot, our partners at Thesele bring with them a broad network, valuable strategic input and access to capital to fuel the growth of the business,” said Talbot & Talbot chief executive officer Carl Haycock.
“Beyond enabling us to achieve this important milestone on our transformation agenda, Thesele shares every aspect of our vision and is completely in alignment with our future growth objectives, both within and outside South Africa’s borders,” he added.
Thesele Group executive director, Oliver Petersen said the company had identified water infrastructure as a strategic investment theme and were drawn by Talbot & Talbot’s comprehensive water and wastewater management solutions implemented at numerous facilities across the continent.
“We are excited to partner with a highly qualified and experienced management team at Talbot & Talbot that is dedicated to leading the way in providing water recovery and wastewater treatment solutions to both private and public sector clients in South Africa and other markets where Talbot & Talbot is active.”
The transaction was concluded in March 2019 and coincides with Talbot & Talbot’s celebration of 30 years in business. It has grown to employ more than 140 people who have delivered highly-specialised water and wastewater projects and advice across 25 African countries, the Indian Ocean islands, Australasia and eastern Europe.