SFI Expands into Refrigeration with Almag Acquisition
We are pleased to announce the smooth and successful takeover of Almag Refrigeration into the SFI Group family.
Almag Refrigeration brings nearly 50 years of experience and expertise in refrigeration to the table. “Over the years I have been asked a number of times if we do refrigeration, and declined those opportunities in the belief that refrigeration is specialised and needs a team and management who understand the requirements,” says Edward Hector, managing director of SFI Group. “Finding a niche company with a dedicated team and a great legacy was a natural attraction for me to bring into SFI. We look forward to growing this business over time.”
AJ and Brenda Loffler, of Almag Refrigeration, said, “First and foremost, we needed to make sure that whomever we sold to would have the same ethos and business acumen as we do, and, who always put their clients first. When we were put into contact with Edward Hector and the SFI Group, we knew that our legacy would be carried on by a company that would look after our staff and clients as they do their own.”
After in-depth engagement began in 2020, it was clear to see that the synergy between the two companies would add scope and scale to SFI Group’s current offering. The acquisition of Almag Refrigeration expands SFI Group’s reach to a wider market in South Africa.
Freeze on Disruption, Fired Up For Growth
Almag Refrigeration has been operational for nearly half a century, which is why it was decided that the takeover would not disrupt anything within the Almag Refrigeration business model. Says Megan Meyer, Business Development Manager at SFI Group, “We have taken over all of the staff and assets and will further continue to trade as Almag Refrigeration. The only thing that has changed here are the shareholders.”
The company remains a Level1 BBBEE company and provides the same services and service excellence that they are known for. Staff and technicians will remain with the company – some of whom have been with Almag for 15 to 20 years – ensuring a smooth takeover for all involved.
The acquisition will see an adoption of joint business principles and best practice, as well as the merging of positive company cultures. This is sure to benefit the group as a whole as well as new and existing HVAC and refrigeration customers.