The move is in line with AxFlow’s strategy to expand its business outside Europe. The fluid handling equipment distributor has operations in 27 European countries.
Founded in 1994, Pretoria-based AQS provides a nationwide sales and pump repair service. The company serves the mining, utilities and agriculture industries from eight branches. AQS has annual sales of more than R140 million and employs 103 people.
“Having established a very strong market position in Europe over the past 25 years, we have been looking for ways to expand our business outside Europe. South Africa is an interesting market for us and an important gateway to the continent,” said Ole Weiner, president of AxFlow. “Our growth philosophy is based on finding great local companies that we, together with the local team, can make even better. The owners of AQS have built a sound company with a fine team of engineers and service staff with a strong drive to grow the business further. We are very happy to join forces with the AQS team.”
AQS’s management, headed by managing director Gerhard Prinsloo, will continue to lead and drive forward the company.
“We, the shareholders, directors and personnel of AQS are excited about the future with AxFlow as a partner. We fully believe in and remain committed to the economic potential of South Africa and Africa as a whole. AxFlow brings with them a wealth of opportunities, knowledge and expertise to further develop and exploit current and future markets on the continent. AxFlow has an impressive track record in Europe and a growth and development strategy that we very much want to be a part of and contribute to,” said Gerhard Prinsloo.
