CEO: ARNOLD GOLDSTONE COMPANY: INVICTA HOLDINGS
has been one of those companies that f lies beneath the radar. And for years management has been content with that state of affairs. However, all that changed on 15 October when the company announced plans to buy Singapore’s Kian Ann Engineering in a cash and share deal worth about R1.36bn. Besides giving Invicta a platform to expand in the high-growth Asian market, the deal is also expected to boost group revenue by around 20%. That’s a considerable number for a local industrial group whose revenue reached R5.59bn in fiscal 2012, up almost 24% from the 4.53bn in the previous financial year.
The Kian Ann deal is part of a broader plan by chief executive officer Arnold Goldstone and controlling shareholder Christo Wiese to diversify Invicta’s revenue streams and reduce its reliance on the SA market. While smaller rival Hudaco Industries plans to begin making greater forays into Africa to