TOSL Engineering buys Ansa Tech

In what is described as a major milestone in its growth journey, TOSL Engineering Ltd (TOSL) has announced its acquisition of Ansa Technologies Ltd – a well-established provider of electrical, instrumentation and automation solutions.

In an article in the Energy Chamber’s publication Energy Now, Ansa construction sector head Christian Llanos said the divestment is part of Ansa McAl’s ongoing portfolio optimisation strategy.

"(It allows) us to focus more deeply on our core areas of growth in service of our 2X business strategy.

"We are confident that TOSL is well positioned to take Ansa Technologies to the next level, and we believe this transaction represents a positive outcome for employees, customers and the broader industry," Llanos said.

TOSL is expected to significantly enhance its service capabilities with the acquisition, by incorporating Ansa Technologies’ specialised expertise and advanced technologies across key industries.

The deal will also extend TOSL’s market reach by leveraging Ansa Technologies’ regional footprint.

"The combined technical depth and collaborative culture of both organisations are expected to accelerate innovation," the article said.

TOSL managing director Ricardo Mahadeo welcomed the Ansa Technologies team into the TOSL family.

"Their culture of technical excellence and shared vision align perfectly with our growth strategy.

"This acquisition not only deepens our service capabilities but also underscores our commitment to delivering unmatched value to our customers and partners."

In March Ansa McAl chairman Norman Sabga said the conglomerate will suspend dividend payments for the next three years, in another move to reach the group’s ambitious 2X plans, which would see the conglomerate double its size, scale, impact and capacity by 2027.

Responding to questions from the media at a conference at Ansa McAl’s head office at Tatil building on March 24, Group CEO Anthony N Sabga III said the retention of the dividends was the best strategy.

"Given the very aggressive agenda that is 2X, it stands to reason that if we want to deliver growth there are certain short-term constraints that are available.

"The management and board of directors looked at quite a few combinations given what is in front of us. The best use of our capital is toward the realisation of our agenda."

The dividends, when calculated at $1.80 per share, would amount to around $318 million for 2024.

In 2024, the group’s revenue grew by five per cent to $7.4 billion.

The adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) increased 11 per cent to $1.518 billion, while profit before tax increased eight per cent to $906 million.