| Wed 30 Nov 2005, 8:00 | | Iliad - Iliad acquires Q Lite |
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Iliad - Iliad acquires Q Lite
Iliad Africa Limited
(Incorporated in the Republic of South Africa)
(Registration number 1997/011938/06)
Share code: ILA ISIN: ZAE000015038
("Iliad")
Press release - business
November 2005
ILIAD AFRICA ACQUIRES Q LITE
Iliad Africa Limited, the JSE-listed building materials supplier currently
ranked third in the Top 100 Company survey, has announced the acquisition of Q
Lite, subject to approval of the competition authorities.
Q Lite, a specialist lighting supplier, focused on the retail and specifications
markets, operates through four outlets in KwaZulu-Natal and one in Gauteng. This
acquisition, funded from cash resources, marks Iliad"s entry into the lighting
sector of the building materials supply market, in line with its stated
strategic intent. Iliad is now active in almost every segment of the building
materials supply market (boards, ceramics, wholesale, ironmongery, plumbing,
building materials and lighting).
Ralph Patmore, chief executive officer of Iliad, says, "Iliad"s stated strategy
is to focus on the differing needs of our customer base by segmenting and
fragmenting the market. Apart from our entry into the lighting sector, other
recent acquisitions have strengthened our presence in the boards, building
material, plumbing and wholesale markets and support our intention of
identifying opportunities for growth that could double turnover in the next five
years."
Iliad"s earlier acquisition of D&A Port Alfred has received approval by the
competition authorities.
Q Lite is a family-owned business that offers the full range of lighting
supplies and services, and has built a reputation for innovative lighting
solutions over 16 years. In line with Iliad"s approach retaining the owner-
manager ethos in its business units, experienced management has been retained.
As part of the listed Iliad group, Q Lite will have access to resources to
accelerate its expansion strategy and augment its procurement practices,
currently dominated by local suppliers.
Patmore believes Iliad"s verified black economic empowerment credentials make
the group an attractive partner for independent, owner-managed businesses. "Some
26% of Iliad"s equity is held by empowerment groups, including Women Private
Equity Fund and Vunani Capital. Coupled to our commitment to a decentralised,
market-focused structure that allows traders to trade, this has enabled us to
build the group on a solid and sustainable platform."
ENDS
PREPARED ON BEHALF OF ILIAD BY CATHY FINDLEY PUBLIC RELATIONS ON (011) 463-6372
OR EMAIL CATHY@FINDLEYPR.CO.ZA
Date: 30/11/2005 08:00:06 AM Produced by the JSE SENS Department
