Hayleys ups Fentons stake by 24.5% to 99.5%; unveils new logo

Monday, 26 August 2019 01:13 -     - {{hitsCtrl.values.hits}}

Fentons MD Hasith Prematillake (left) and Hayleys Chairman and Chief Executive Mohan Pandithage

Leading integrated engineering solutions specialist Fentons Ltd. has announced that it had re-branded as ‘Hayleys Fentons.’

The move is following the Hayleys acquisition of a further 24.5% of the company’s issued share capital in of the company in July, increasing Hayleys PLC stake to 99.5% of the Company.

“As a group with over 141 years of rich heritage, Hayleys bears a unique similarity to Fentons – itself being an enterprise with a 98-year legacy of trust and quality in the field of engineering. Both corporates were founded by British entrepreneurs, who were succeeded by visionary Sri Lankans and have since both grown into respected entities in the Sri Lankan corporate sector.

“While both of our organisations are unique in their history, it is the bright and prosperous future which we now have most in common. With our closer alignment comes greater opportunity for business growth and synergies which will enable Hayleys Fentons to now differentiate itself as Sri Lanka’s first, largest, and most deeply integrated total engineering solutions provider,” Hayleys Chairman and Chief Executive Mohan Pandithage stated.

The acquisition was driven by Hayleys’ belief in the firm’s ability to deliver profit due to its prime position within the country’s engineering services sector in addition to the strong cultural fit given the similar values, goals and shared commitment to quality exemplified by the Hayleys Group and Fentons.

“Since the acquisition by the Hayleys Group in 2016, Fentons has been working to integrate our extensive portfolio of solutions, while exploring avenues for synergies and collaborations with other companies in the Hayleys group. This has been an immense source of strength and synergistic opportunity. We extend the fullest support of the Hayleys Group to our dynamic team at Hayleys Fentons, and wish them all the best as the work towards this bold new vision for the company,” Mohan Pandithage added.

“With Hayleys now acquiring a 99.5% stake in Fentons, our parent has signalled not only its confidence in our capabilities, but also a true commitment to helping us achieve that potential. Backed by the extensive resources, network and expertise of Hayleys PLC, we will actively target more projects of a larger scope – both locally and internationally,” Hayleys Fentons Managing Director Hasith Prematillake stated.

Established in 1921, Hayleys Fentons has carved out a reputation as an industry leader, offering thousands of customers end-to-end options for building systems infrastructure encompassing mechanical, electrical, renewable energy-solar power, security and surveillance, voice and data infrastructure, structured cabling, mission critical power and integrated fire engineering solutions.

Today, it has diversified to providing its services to corporates, which include banking, finance and insurance, hospitality, high-rise developments, stadiums, education, healthcare, manufacturing, and telecom and broadcasting.

Backed by a legacy of excellence and innovation that spans over 140 years, the Hayleys Group continues to serve as a beacon of sustainable innovation and value addition, maintaining a global presence through manufacturing and marketing offices across five continents with business interests spanning a total of 16 sectors.