Paramount sells off engine company in part management buy-out
Southern Power (Pty) Ltd acquired
SOUTH AFRICA: Teaming up with additional investors, current CEO of Southern Power (Pty) Ltd has concluded a deal for the full acquisition of the company from Paramount Maritime Holdings (Pty) Ltd.
Having led the team since 2015, Jacques Brummer will continue to run the company with two new investor entities from within the maritime industry who he believes will both contribute positively towards business expansion.
“Southern Power will continue driving the company’s vision to be the leading supplier and service agents for quality Marine and associated power brands. The company remains faithfully committed to its existing customer base and looks forward to ensuring continuity and growing the community in the years to come,” he says.
Brummer is confident that the new shareholders and associated investment will provide the stability and agility to the company going forward.
102