Cape Town - Rebhold, the highly rated services company, locked into new growth potential yesterday by acquiring the Coin Security Group, one of South Africa's best-known security firms, for an undisclosed sum.
The deal has been set against a warranted growth in profit of 30% a year being met by Coin year on year for the next three years.
Stephen Levenberg, the Deputy Chairman of Rebhold, said the acquisition would have a positive impact on earnings from day one. It would have increasing upside as Rebhold's financial and management muscle was applied to Coin Security's organic and acquisitive growth objectives, he said.
"It fits the Rebhold criteria for service companies with experienced, highly rated and dynamic entrepreneurial management, a powerful brand and exciting expansion prospects in a high-growth industry".
He said that for 20 years Coin Security, headed by John and Yvonne Bishop, had provided comprehensive security solutions in three core areas - assets in transit, armed response and guarding.
Levenberg believed Coin Security was one of South Africa's top unlisted companies.
"Like Jumbo Cash and Carry which we acquired last year, Coin has been a veiled bride, flourishing under the noses of the market and quietly building one of South Africa's leading brands."
Coin has its headquarters in Pretoria and conducts its business from 21 centres throughout South Africa. It also has an international division in Namibia, Botswana, Zambia, Mozambique, Comores, Angola, Zimbabwe, Tanzania, Madagascar, Mauritius, Ghana, UK, Singapore and Indonesia.
Rebhold, still regarded as a market darling, ended 15c up at R18,70, with 321 500 shares changing hands yesterday.
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