Probe Industrial News
News, Articles & Press Releases from the Probe Corporation
Probe Corporation firmly committed to B-BBEE through 49.95% share acquisition by Thesele Group
While many small and medium-sized enterprises race to comply with B-BBEE, Probe Corporation has long committed to inclusive growth.
Most recently a partnership with Thesele Group (Pty) Ltd (Thesele), a wholly black-owned investment holding company, has further cemented this with the company acquiring a 49.95% ownership stake in Probe Corporation (Pty) Ltd (Probe).
The partnership reflects Probe’s commitment to strengthening their BEE credentials, and signals a strong growth phase for the corporation. Probe CEO, Frank Rovelli says, “This transaction effectively re-affirms Probe’s commitment to sustaining our BEE strategy, which began 20 years ago as one of Zimele Limited’s first BEE companies based in Witbank. In addition, we believe that the partnership will add tremendous value to the company, given that both Thesele and Probe management have a closely aligned strategic vision. Operating independently from any major group will also improve our opportunities in the market.” Rovelli adds that the company anticipates a strong growth phase via the corporation’s niche and strategic products within the automotive, trucking, mining and industrial segments.
Originally established in 1963 with a focus on auto-electrical services, Probe has since expanded its product range to include batteries, starters, alternators and auto-electrical components, as well as the provision of value-added support including repair work, technical sales support and remanufacturing. The company, which has a national footprint as well as representation in Mozambique through subsidiary company, Integrated Mining Technologies, also acts as an official distributor and aftermarket support provider for leading international and prominent South African electrical automotive brands.
Thesele is an owner-managed business, which enables it to nimbly evaluate and execute investment opportunities. The company seeks investment in established medium-to-large enterprises in South Africa. Oliver Petersen, a senior executive at Thesele says, “The Probe investment is complementary to Thesele’s investment strategy, which is to diversify into industrial businesses.” He adds that Thesele plans to be an active shareholder that will provide support to the Probe management team on the strategic and operational direction of the business.