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Benchmark International Successfully Facilitated the Transaction Between Press Spinning & Stamping Co. (Pty) Ltd and Private Consortium
August 29, 2024
Benchmark International is proud to announce the successful sale of Press Spinning & Stamping Co (Pty) Ltd, which includes Peninsula Epoxy Coaters (Pty) Ltd, to a Private Consortium.
Established in 1952 and located in Paarden Eiland, Cape Town, Press Spinning & Stamping is renowned as the oldest metal spinning company in the region. Under the leadership of Michael Halperin, the company has grown into a robust, profitable entity with a strong reputation for delivering comprehensive turnkey solutions from design through production. Certified with ISO 9001:2015, the company has upheld a dedication to quality and innovation, positioning it as a key player in its industry.
The sale was driven by the owner's desire to retire and to ensure the continued growth of the business under new stewardship. The buyer, a Consortium of seasoned entrepreneurs with strong BEE credentials, recognized the company's potential for expansion and its strong foothold in various industries. This acquisition marks a strategic move to capitalize on the company’s established market presence, operational strengths and to improve the company’s BEE profile.
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Michael Halperin, owner of Press Spinning & Stamping, commented on the acquisition: “I’m very pleased that I selected Benchmark International to facilitate the sale of my businesses. From the initial contact, through to closing the deal, the team were very thorough in collecting all of the data and information needed so that the business could be marketed professionally and with confidence. Regular feedback was provided on all aspects of the sale. A key aspect for me was to maintain confidentiality about the sale and this was achieved completely.”
Marius Meyer, representative of the Consortium commented: “From the moment Benchmark International contacted us we were impressed with Press Spinning and the business that Michael has built. Benchmark International has played a key role to ensure a successful transaction. Doing the transaction with Michael, ever the gentleman, was relatively easy given his straightforward nature and strong principles, we wish him the best for a new season in his life. The Consortium is looking forward to continuing to build Press Spinning further and providing quality service to our customers.”
Anthony Monné, Associate Director at Benchmark International, who spearheaded this transaction, shared his insights: "Leading the sale of Press Spinning & Stamping has been a remarkable journey. The business has a rich history of excellence and innovation, making it a valuable acquisition for the buyers. We are pleased to have facilitated this partnership, which we believe will greatly enhance the company's market reach and operational capabilities. We look forward to seeing the company achieve great success moving forward."
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