INDUSTRY NEWS
ROOFING COMPANY GETS NEW OWNER Global Roofing Solutions has been acquired by Rockwood Private Equity, a local private equity investor with significant experience of investing in and growing manufacturing companies in SA. In July 2020, when the parent of GRS, Consolidated Steel Industries, was placed in business rescue, the management team of GRS acted with care and consideration to protect all stakeholder
interests, including ensuring that customer inconvenience was kept to a minimum. “From the outset, we pledged to keep stakeholders up to date with key developments and to demonstrate our appreciation for their trust and support,” says Andrew Winter, CEO of Global Roofing Solutions. “With the support of our employees, creditors, funders, insurers and landlords, we’ve implemented the essential ‘rightsizing’ steps to create a focused, lean, appropriately funded business capable of long-term, sustainable growth. One of the most heartening aspects of this outcome is that we’ve preserved 310 jobs and, with them, the skills and expertise to support the business into the future.”
He adds that the company will trade on its strengths, including: • Its innovative product, Klip-Tite Concealed Fix. • A strong technical and quality division with years of experience in the industry. • A national footprint and unsurpassed mobile mill fleet ready to meet all roofing needs. • Skilled employees who are dedicated and motivated. • Sufficient manufacturing capacity to meet orders. • A regional footprint across SA, Botswana and Namibia. • The ability to supply “on spec and on time”, as well as excellent relationships with local suppliers and a well-developed import strategy.
