Hayleys expands with Fentons 75% equity stake

Wednesday, 16 March 2016 00:10 - - {{hitsCtrl.values.hits}}

Untitled-2 Hayleys PLC yesterday announced the acquisition of 75% of the equity stake of Fentons Ltd.marking an important milestone in Sri Lanka’s infrastructure and support services sector.

Fentons, valued at Rs. 963 million, is one of Sri Lanka’s leading integrated solutions providers for building systems infrastructure and ICT infrastructure. Since its inception in 1921, Fentons has been a key player in providing electrical, mechanical and telecommunications engineering solutions for the sector, garnering a reputation for unmatched industry expertise and responsiveness.

Both Hayleys and Fentons share a rich heritage which spans over a period of more than 100 years. Sharing a very similar and strong value system this acquisition creates the prefect partnership.

Hayleys believes the acquisition will positively contribute to the Group’s turnover, considering the growth in the country’s infrastructure and support services sector. This acquisition also speaks of Hayleys’ expansion plans by diversifying into multiple industry verticals.

Fentons serves over 6,000 customers offering complete end-to-end solutions for building systems infrastructure in the spheres of mechanical, electrical renewable energy, electronic security, voice and data infrastructure, structured cabling, mission critical power and integrated fire engineering solutions.