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PROPERTY: Synergies from Property Acquisition

 





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Commenting on the announcement regarding the proposed acquisition by Excellerate (60 percent) and JHI management (40 percent) of the entire issued share capital of JHI – a well established property services company, Gordon Hulley, CEO of Excellerate - which is a JSE-listed investment holding company, and JHI CEO Marna van der Walt say the proposed acquisition will be beneficial to both organisations.

Following rationalisation, Excellerate has evolved into a highly focused company with core investments in Services and Trade and Distribution creating a balance sheet from which ambitious growth is expected. JHI currently manages over R40 billion in assets and provides a comprehensive range of property services.

Comments Hulley: “The acquisition will be mutually beneficial as there are synergies between the two companies which can be capitalised on in order to create new business opportunities. Excellerate’s services division currently includes property service companies such as Interpark and Sterikleen, while JHI provides a further range of services including property and retail management, development, facilities and project management, and broking and valuation services.

Further rationale for the deal is that the investment fits Excellerate’s strategy of partnering with highly skilled and ambitious management in strongly cash generative businesses.”

Comments van der Walt, who will remain as CEO of JHI: “This is a positive move which will provide new opportunities to grow the business. The share acquisition will not affect the day to day operations or internal structure of JHI. We will continue to drive our core business forward and leverage growth opportunities, including our continued expansion into Africa and internationally.”

Under van der Walt’s direction, JHI has achieved unprecedented growth - since 2006 when the company had approximately R11 billion in assets under management.


 
 
 
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