Advanced Mechanical recently acquired 70% shareholding in Bearing Services Africa. The shareholders agreement, which was formalised on 25th April 2022, will see a significant expansion of the SKF Authorised Distributor’s product and service portfolio, opening up vast new market opportunities within the bearings and industrial space and delivering added value to its customer base.
Bearing Services was first established in January 1999 by Barry Everitt. This noted the acquisition of the first branch Bearing Services East Rand and Bearing Services Alrode as a SKF Authorised Distributor of bearings and units, seals and allied products and services. Grant van Rooyen, who joined Bearing Services in the same year, was appointed Managing Director in 2013. In his capacity as Managing Director and under the guidance of Barry, they grew into a successful operation noting rapid expansion in four key provinces of South Africa, namely; Mpumalanga, Limpopo, Gauteng, and KZN. The total compliment of branches now reporting to Bearing Services Head Office based in Jet Park, Gauteng, is that of nine (9) branches.
Barry recently took the decision to retire and sold his Bearing Services shares to Advanced Mechanical. Grant holds 10% shares in the business with the remaining 20% BBBEE-owned.
Advanced Mechanical, spearheaded by Group CEO Ben Naidoo, holds a number of sole distributorships in South Africa for global premium brands. Ben confirms that the recent purchase of Bearing Services, with Advanced Mechanical will propel us into becoming an undisputed force within the industrial and automotive sectors in South Africa. Ben says he is committed to the creation of long-term value, which will spark not only growth of the business, but the transformation of the sector, social upliftment and the creation of employment.
“We are extremely excited about the added value that this acquisition brings to the table,” says Grant. “There can be no doubt that the solid support from such a large enterprise like Advanced Mechanical, is a game changer for Bearing Services. In addition to our Distributor status, Bearing Services also now dons the retailer cap as we are able to effectively sell our products through a combined and continuously expanding branch network. The benefits that we reap from this dual position will most certainly be passed on to our customers.” …/2
Bolting on more products will not only boost Bearing Services’ current basket of offerings but will also add diversity which will ultimately deliver huge benefits to customers. “With our new and expansive scope of products, customers can now look forward to complete turnkey solutions from a single-source supplier,” notes Grant. “Moreover, we are now dominantly a BBBEE Level 2 contributor which elevates our competitive position in the market place, opening up vast new business avenues for us.”
“The word ‘Services’ is part of our company name for a reason; we have and always will be serious about customer service. As a successful player in the industrial market, our value proposition is to serve customers by always listening to them and subsequently providing turnkey solutions that best suit their individual needs. This acquisition enables us to further enhance our service culture and add value to the customer experience.”
Ben confirms that his long-term vision for Bearing Services is to grow the business substantially. “The objective over the next twelve months is to open up new branches in partnership with SKF. Strategic areas will be identified to allow for exponential growth in discerning markets where we know we can gain integrated leverage and be of key value to our customers. With Bearing Services’ expanded product portfolio, we are able to carve out the full potential of these markets.”
The Bearing Services team has years of experience in supplying world-class quality, reliable product solutions that assist customers in optimising asset uptime and life-cycle cost management. The result is increased production efficiency and a reduction in the Total Cost of Ownership. “And I wish to assure all our valued customers that these core competencies will not change,” stresses Grant. “We have been a proud SKF Authorised Distributor for over two decades and our professional and highly skilled team is ready to continue providing the product and service excellence that we are renowned for and that our customers have become accustomed to. Additionally, we are ready to deliver so much more and we invite our valued customers to join us on this exciting new journey.”
SKF Managing Director, Southern Africa, Burak Murat Özyurt, says, “We welcome the new Bearing Services shareholders into the family of our peerless Southern Africa distribution network. From our interactions thus far, we can see the business acumen and hunger to take Bearing Services to the next level by adapting to the buying behaviour trends of 2022 and going forward, aligned with our Africa Distribution Development Strategy. We, as the
unbeatable team SKF Southern Africa, will continue to provide the best support to our long standing partner ‘Bearing Services‘.”
In closing, Barry extends a sincere thank you to Bearing Services customers for their loyal support over these many years. “A new life chapter begins not only for me but also for Bearing Services. I believe that with this new shareholder partnership, the company is poised to grow tenfold. I therefore leave you in capable hands, confident in the knowledge that the future success of Bearing Services will contribute to the sustainability of your business.”