Prime Empowerment Group Limited (Primgro), a local black economic empowerment company, has acquired Surge Technology, trading as Surgetek, a supplier of earthing, lightning, overvoltage protection and safety equipment. The acquisition took place on 1 March.
Primgro has a strategy of investing in both listed and unlisted companies operating internationally in the fields of information communication technologies (ICT), and energy products, services and solutions. Since 1999, Primgro's entrepreneurial and professional founders have combined their commercial experience to build a focused dynamic group that is intent on attaining critical mass within its chosen fields. Primgro creates stakeholder wealth through investments that achieve sustainable real growth in earnings and dividends.
According to Premesh Narismulu, Primgro Group CEO, the acquisition of Surgetek will see Surgetek entrench its dominant position in the domestic lightning and surge protection market, whilst simultaneously growing its presence in the 39 sub-Saharan African countries in which it now holds the exclusive distribution rights for DEHN products.
Surgetek is divided into various technical departments: external lightning protection and earthing; internal surge protection - LV power, data and instrumentation; high voltage safety equipment; MV and HV surge arresters.
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