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| Jan De Lange (Managing Director), Lukas Rautenbach (Financial Director) and Les Oates (Director) led the buyout |
Norbain SA’s management announced a successful Management Buy Out of Norbain SA. The transaction is effective immediately. The buyout has been led by the majority shareholders, Jan De Lange (Managing Director), Lukas Rautenbach (Financial Director) and Les Oates (Director).
Jan De Lange said that the big difference the MBO will provide is that we now have more freedom and flexibility to deliver superior products and services to meet the needs of our fast-changing South African marketplace. “We have experienced qualified and well trained staff with outstanding expertise in all of the key disciplines and are fully equipped to tackle almost any demands and serve our customers even better.”
Lukas Rautenbach stated that Norbain SA’s exceptionally strong post acquisition balance sheet will ensure rock solid stability; this will benefit both customers and suppliers.
Les Oates commented that the Norbain SA being back in private hands will ensure that the personal relationships on which the company was built can grow even stronger.
De Lange concludes “This deal represents a marvelous opportunity for us. We have utmost confidence in the business and its people and are well-positioned for future growth. We are delighted to have completed this transaction. The management team at Norbain SA has a strong understanding of our customers’ needs and the many strengths that exist within our business. With the support of our funders, the MBO allows us to invest in developing our services even further.”
Everyone at Norbain is looking forward to a prosperous future and we wish to thank our customers and suppliers who stayed true through this period of rumor and innuendo.
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