ELB sells electrical and instrumentation subsidiary for R1

ELB Group, a provider of capital equipment and engineering services, has sold electrical and instrumentation firm B&W Instrumentation and Electrical for a nominal R1, the company said on Friday.ELB said the transaction would enable B&W to raise external funding, to build its client base and to focus on growing revenue “given that B&W’s capacity has mostly been absorbed by ELB group operations in the past while part of the ELB Group”.

B&W services the mining, oil and gas, chemical, industrial and utilities, power generation, transmission and distribution and renewable energy sectors across sub-Saharan Africa. It also provides specialist earthing and lightening protection services and electrification systems for mobile equipment. ELB said in April it was seeking additional funding from lenders as it battled cash-flow problems stemming from a loss-making contract.

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