CSS Distributors has announced the acquisition of a controlling interest in the company by a consortium of investors consisting of historically disadvantaged individuals and black economic empowerment (BEE) companies. At the same time the company announced a restructuring of the board including the appointment of a new chairman and managing director with immediate effect.
The company`s name will be changed to CSS TIRISANO Computer Systems (Pty) Ltd from 1 June 2003.
The shareholders have appointed Peter Pooe as the new chairman of the board, while Gavin Padayachee will become the new managing director. The previous chairman and CEO, Gustav van der Gryp, has retired from the board but will remain available to the board as an advisor on strategic financial and product portfolio issues. "The introduction of BEE shareholders into CSS has long been a priority of both the board and senior management of CSS," said Van der Gryp.
He added that the new structure will free him from the day to day challenges of running the company and allow him the opportunity to focus on long-term trends and objectives of CSS, and other business interests.
"The support of the BEE shareholders will allow CSS to expand its market opportunities in the South African business environment going forward," said Van der Gryp.
According to Pooe, the BEE investors that he will represent on the board were eager to invest in an ICT company with a substantial market share as well as a track record of growth and profitability.
"Many of the recently emerging ICT companies supported by BEE investors have a mixed record of success. CSS with a 21-year track record, blue chip customer base and a turnover of more than R400 million in its previous financial year, is a very attractive investment. The investors chose CSS TIRISANO Computer Systems as the new name. Tirisano is a Tswana word meaning working together. This reflects the spirit of co-operation between the new and existing investors," said Pooe.
CSS has been distributing and supporting leading branded information and communications technology products for the corporate market since its founding in 1982. The group focuses on desktop devices, notebooks, servers and storage in the Microsoft and Linux market spaces. CSS is an HP Platinum Partner; an IBM First Tier Partner and an EMC authorised Channel Partner. In addition, CSS has partnership agreements to provide Cisco Networking equipment, Citrix Software, Wyse Thin Clients and Microsoft Software products. The clients of CSS include the Sasol group; South African Airways and Galileo; the Anglo American Group; local authorities and government agencies.
Pooe has many years of experience in computer workstation and server procurement for a large petro-chemical company. In 1996 he founded Masakhane Computers, a supplier of workstations, servers and associated services, and is still the main shareholder and managing director. Masakhane Computers is one of the members of the consortium.
Padayachee has more than 20 years` experience in the ICT industry, and comes to CSS from Servutron, where he was the director responsible for Servutron`s marketing function and branches.
For more information, contact Adele Green at telephone (012) 661 4970. e-mail adeleg@cssgroup.co.za
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