Nisela Capital, an asset management, private equity and advisory firm located in South Africa, has acquired Genrec Engineering from JSE-listed Murray and Roberts Holdings in a R185 million, (approximately $13.3 million) deal. The transaction is subject to conditional and regulatory approvals.
Genrec, which provides steel structure fabrication and machining services to its clients, was started in 1953 and has grown to be one of South Africa’s largest engineering manufacturers, listing on the Johannesburg Stock Exchange in 1974. The company was subsequently delisted in 1992 once Murray and Roberts acquired 100% of its outstanding shares.
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