ACTOM Acquisition Of Savcio

Savcio, the largest privately owned provider of maintenance and repair services for motors and transformers in Africa, has been sold to ACTOM, a company focused on manufacturing, distributing and contracting in the electrical engineering sector.

Over the past six years the shareholders have grown Savcio by refocusing on the core elements of the business, diversifying revenue streams, refinancing bank debt and maximising operational efficiencies.

Savcio and ACTOM are highly synergistic businesses: together they create a full service electrical-mechanical engineering business of considerable value which will manage assets from original procurement through to the lifespan of asset. The merger represents a tremendous natural fit between two South African champions with strong, complementary management teams and a common culture. As a consequence the current management team will remain in place.

Webber Wentzel acted as legal, tax and competition adviser to Savcio and its shareholders, including long-standing clients OMLACSA, Actis and Ethos Private Equity Fund IV. The team was led by John Bellew (co-head of Private Equity), Mark Linington (tax) and Robert Wilson (competition).

The merger was challenged and required hearings before the Competition Tribunal before obtaining final competition approval.