On 12 October 2016 Thesele Group (Pty) Ltd, a wholly black-owned investment holding company, acquired 49.95% ownership of Probe Corporation.
Originally established in 1963 with a focus on auto-electrical services, Probe has since expanded its product range to include batteries, starters, alternators and auto-electrical components. The company also provides value-added support, including repair work, technical sales support and remanufacturing.
Probe has a national footprint as well as representation in Mozambique through subsidiary company, Integrated Mining Technologies, and also acts as an official distributor and aftermarket support provider for leading international and prominent brands, specialising in productivity and safety systems at mines.
Thesele invests in established medium- to large-enterprises in South Africa. Thesele is an owner-managed business, which enables it to nimbly evaluate and execute investment opportunities.
“The Probe investment is complementary to Thesele’s investment strategy, which is to diversify into industrial businesses,” says Oliver Petersen, a senior executive at Thesele.
Following the investment, Thesele takes on the role of an active shareholder providing support to the investee-management team on the strategic and operational direction of the business.
Probe CEO Frank Rovelli says the company anticipates a strong growth phase via the corporation’s niche and strategic products within the automotive, trucking, mining and industrial segments.
“This transaction effectively re-affirms Probe’s commitment to sustaining our BEE strategy, which began 20 years ago as one of Zimele Limited’s first BEE companies based in Witbank. We believe that the partnership will add tremendous value to the company, given that both Thesele and Probe management have a closely aligned strategic vision," adds Rovelli.