FTSE 100 company Investec Bank and Jala Capital, an empowerment company with international links, have acquired shares in fire engineering company, Alien Systems & Technologies (AST).
The international specialist and asset management group’s backing will allow AST to accelerate its growth and development throughout South Africa and the African continent as well as into Europe and Asia through its sister companies.
Both Paul Wright and Mike Wilkinson will continue on in their current positions. Wright, who remains CEO, says this new venture gives AST access to even greater financial resources to continue to develop fire protection and suppression products which will drive the company’s competitive advantage and shareholder value, whilst increasing job creation and industry training in South Africa.
Investec currently operates in South Africa, the United Kingdom and Australia, with more than 6000 employees around the world. The group’s philosophy is to build well-defined, value-added business focusing on serving the needs of select market niches where the group can compete effectively. Currently listed on both the London and Johannesburg Stock Exchange, Investec’s growth saw its share value increase by 22% in 2010 and earned the company a place on the blue chip index.
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