General Profiling has announced the successful introduction of two new shareholders into the General Profiling Group, effective 1 November 2018.
Nedbank Private Equity (part of Nedbank Limited) and Heritage Capital have each acquired a strategic stake in General Profiling. The rest of the company is still owned by the existing management team.
Operational control and the running of the business remains unchanged. However, Gavin Poplak stepped down as Managing Director at the end of February 2019 and will be replaced by Martin Nel, who has been with General Profiling for the past seven years as Financial and Commercial Director.
An aerial view of General Profiling’s plant in Amalgam, Johannesburg, Gauteng
“Heritage Capital, a 100% black female owned organisation, will significantly improve the BEE scorecard of General Profiling and together with Nedbank Private Equity, will add value in respect of strategic guidance and further growth capital. Importantly for procurement points for customers, the General Profiling Group will now be 34% black female owned and 8% black male owned,” explained Nel.
“General Profiling looks forward to the next chapter of growth, with the support of its new shareholders who are seeking to grow the business organically and by acquisition of businesses in the cut to size steel market,” Nel added.
General Profiling was established in 1971 and has grown into one of the largest independent steel, stainless steel and aluminium service centres in the country. It offers all major value-add steel services, including laser cutting, waterjet cutting, plasma and flame cutting, bending, rolling and robot welding.
General Profiling offers large format laser cutting (three metres wide and 30 metres long), heavy duty bending using its 2 000 ton, 12 metres long press brake and rolling up to 50mm thick plate
“General Profiling’s ability to offer large format laser cutting (three metres wide and 30 metres long), heavy duty bending using its 2 000 ton, 12 metres long press brake and rolling up to 50mm thick plate has allowed the company to process some of the largest projects in the country as well as for export markets,” said Nel.
“General Profiling’s 8kW fiber laser offers the latest technology to the market and is able to process up to 30mm carbon steels and 40mm in stainless steels.”
“Other value added services that we offer include CNC turning, milling and drilling. The company is also ISO 9001:2015 and ISO 3834 certified.”