Eos Capital is pleased to announce that it has acquired the majority of the ordinary share capital of Panel To Panel Insulated Panel Manufacturers (Pty) Ltd, pending Namibian Competition Commission approval, in support of the Industrialisation drive of the country and to participate in the growth expected for the company through widening product offering, establishing export market operations and developing additional business lines.
Panel To Panel was founded by serial entrepreneur Francois Kotze in 2005 and is led by an energetic management team headquartered in Walvis Bay with a staff complement of 75. The company supplies contractors and end customers across the country with insulated panels in their various applications such as cooling rooms, sterile environments and prefabricated houses. Panel To Panel serves a diverse range of sectors including the fishing industry, abattoirs, lodges, pharmaceutical plants and the public sector, making it fairly resistant to shocks in any one sector, making it attractive from a risk perspective.
From its humble beginnings, Panel to Panel grew from strength to strength to be the leading manufacturer of insulated panels in Namibia, even boasting its own polystyrene plant. Due to the scale and standard achieved, it offers well-priced and good quality products when compared to local and international competitors.
Eos Capital Executive Chairman Johannes !Gawaxab notes that “interestingly, there has been a 40% reduction in the imports of prefabricated panels imports since 2012, alluding to the substitution by local production by yet another Namibian manufacturing success story. This shows that Namibia is taking the right steps towards industrialisation and local value creation in line with the Government’s Growth at Home strategy. We are proud to be associated with such a challenger firm.”
Jacques Crowther, Panel to Panel’s Financial Director, commented, “There are plans to widen Panel To Panel’s product offering in the near future to serve a broader range of customer needs. We are looking forward to working with Eos to formalise and grow the business whilst maintaining the same excellent customer service and the passion for what we do.”