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Download Paint & Ladders' BEE policy document here.
Paint and Ladders is a large-scale manufacturer and supplier of commercial and industrial paints, aluminium ladders and scaffolding, castors, wheels, curtain suspension products, brushware and storage solutions.
The company Paint & Ladders (Pty) Ltd was born in early 1998 from the merger of Castor & Ladder and AP&CI, the latter being the vendors of the then Cedar Radex and Vadek paint brands. These have since been merged into a single brand, Cedar Vadek.
After an initial period of "merger blues" the company settled into a constantly improving pattern in both major markets, viz, the paint and light materials handling industries. In the latter category, Paint & Ladders manufactures a full range of aluminium ladders, scaffolding and access products. It is significant that all operations have demonstrated an increase in both sales turnover and profitability every year since its inception.
The company is currently involved in several exciting activities, which include a BEE deal as well as several marketing initiatives aimed at improving the visibility of the company. These include sponsoring a cycling team, a Formula One powerboat and a major mountaineering expedition.
In particular, the BEE deal is a landmark in the life of the company. A consortium controlled by football legend, Jomo Sono, has acquired a 27,6% stake in Paint & Ladders.
"Having such a distinguished public figure as Jomo on the team can only improve our marketing capabilities," said Managing Director, Roy Fouché.
Simultaneously, the management team lead by Roy Fouché, has increased its interest to 62,4% with other investors holding a 10% stake.
The entire deal, worth R25 million, is funded by FNB Corporate and is subject to the fulfilling of conditions precedent, inter alia obtaining approval from the Competition Commission.
"Our intention is to associate the Cedar Vadek brand with the rebirth of Paint & Ladders," said Fouché, "and in particular to identify this brand with Jomo Sono."
Under the new dispensation, the management of the company is planning a strategy of aggressive sales growth, particularly within the paint division. Apart from the primarily decorative label, Cedar Vadek, this division incorporates such well known brands as Albestra (industrial coatings), Multimend (remedial coatings), Mastercoat (stains and varnishes), and the recently-launched Aqua Décor (water-based coatings).
"I’m looking forward to being involved in the paint industry," said Sono, "but we must not ignore our light materials handling operations, particularly having such effective ladder brands as Forlezer and Aldek."