Sturrock Grindrod Maritime (SGM) have finalised the acquisition of Novagroup, a leading provider of support, service and repairs for marine and aviation rescue and survival equipment, container storage, ship carpentry and repairs, support services as well as warehousing and storage.
The Novagroup (Pty) Ltd. have a network of branches strategically situated at each major port in South Africa and Namibia. The head office is based in Cape Town with associated branches in Durban. The company is also active in Walvis Bay and Lüderitz, Namibia.
SGM is a leading ships agency and provider of logistics and maritime technical services representing a range of reputable international OEMs. The company have strong technical competence and offers comprehensive engineering services.
“Our mission is to further strengthen our position as a market leader,” says Andrew Sturrock, CEO of SGM. “The acquisition strengthens our position as a comprehensive supplier serving the maritime industry. We aim to optimise business and operations and this acquisition offers a unique opportunity that will benefit both our customers and business partners.”
A focused expansion strategy have resulted in SGM successfully establishing offices and operations in the Middle East, Southeast Asia in addition to Sub-Saharan Africa and Australia.
The transaction was concluded and approved by the Competition Tribunal of South Africa 26 September 2018.