Pinnacle Holdings has acquired Precision ICT and Modrac from Craig Luck with effect from 1 June 2013, subject to the completion of a due diligence review.
Precision ICT is an engineering company focused on the design, manufacture and assembly of electronic enclosures and server racking for the ICT and other specialist markets. The company manufactures the popular Modrac and Envirorac ranges of products.
Arnold Fourie, CEO of Pinnacle Technology Holdings, says that the rapid increase in cloud computing globally, especially as more companies turn to cloud computing solutions, means that data centres need to keep up.
“At the very epicentre of the cloud, is the data centre,” he says. “More and more data centres need to be developed to keep up with the increase in data availability and management. The acquisition of Precision ICT and Modrac allows Pinnacle Holdings to participate in this exciting market development.”
Precision ICT is the single largest manufacturer of electronic enclosures in Africa and exports products to the UK, Middle East, Europe and Africa.
The companies operate out of a 10 000 metre square factory in Wynberg, Sandton, and have invested R31-million in capital equipment and stock, ensuring quick turn-around of consistently high quality products. No part of the manufacturing process is outsourced, which ensures that quality is monitored in-house.
Fourie says that the incorporation of Precision ICT’s productive capacity into the group will add considerably to the existing capacity of the earlier acquisition of JAG Manufacturing (SA), and will see the return of the Modrac and Envirorac ranges of racking products into the portfolio of products marketed by the group.
“We are confident that this will allow Pinnacle Holdings to become a major player in the manufacturing and distribution of electronic enclosures and server room racking products in the country and across the continent as a whole,” he says.
“The exciting potential of this acquisition is expected to contribute significantly to the group’s growth imperatives.”
Precision ICT is an engineering company focused on the design, manufacture and assembly of electronic enclosures and server racking for the ICT and other specialist markets. The company manufactures the popular Modrac and Envirorac ranges of products.
Arnold Fourie, CEO of Pinnacle Technology Holdings, says that the rapid increase in cloud computing globally, especially as more companies turn to cloud computing solutions, means that data centres need to keep up.
“At the very epicentre of the cloud, is the data centre,” he says. “More and more data centres need to be developed to keep up with the increase in data availability and management. The acquisition of Precision ICT and Modrac allows Pinnacle Holdings to participate in this exciting market development.”
Precision ICT is the single largest manufacturer of electronic enclosures in Africa and exports products to the UK, Middle East, Europe and Africa.
The companies operate out of a 10 000 metre square factory in Wynberg, Sandton, and have invested R31-million in capital equipment and stock, ensuring quick turn-around of consistently high quality products. No part of the manufacturing process is outsourced, which ensures that quality is monitored in-house.
Fourie says that the incorporation of Precision ICT’s productive capacity into the group will add considerably to the existing capacity of the earlier acquisition of JAG Manufacturing (SA), and will see the return of the Modrac and Envirorac ranges of racking products into the portfolio of products marketed by the group.
“We are confident that this will allow Pinnacle Holdings to become a major player in the manufacturing and distribution of electronic enclosures and server room racking products in the country and across the continent as a whole,” he says.
“The exciting potential of this acquisition is expected to contribute significantly to the group’s growth imperatives.”