Altron Nexus, a communications infrastructure firm, has signed transaction agreements to enable a management buyout from the Altron Group.
As part of this new chapter, the company has rebranded as Sentiv. The transaction is subject to the fulfilment of conditions precedent which are targeted to close by end June 2025.
In a statement, the company says the name Sentiv, derived from a blend of “sentient” and “intuitive”, reflects the company’s evolution into a platform-led business.
The buyout is led by Louis Du Toit, the company’s current managing director, who will assume the role of chief executive officer, and Reshaad Sha, who will serve as executive chairman.
Together, they will steer Sentiv’s transformation into a future-oriented technology partner offering intelligent, context-aware, mission-critical communications and industrial IOT solutions.
In an interview with ITWeb, Werner Kapp, group CEO of Altron, said Altron Nexus faced financial challenges after it lost the multibillion-rand Gauteng Broadband Network project.
Altron Nexus was responsible for the Gauteng Broadband Network build, operate and transfer project, which aimed to provide broadband connectivity to various sites across the province.
“Altron Nexus, now rebranded as Sentiv, has played a pivotal role in shaping South Africa’s mission-critical communications landscape for over half a century,” says Sha.
“From supporting the communications needs of police services and emergency responders, to enabling disaster management and industrial operations, its legacy is deeply entrenched in the nation’s infrastructure. It’s a privilege to lead a company with such a proud heritage. I would like to thank the Altron Group for their support and partnership with Louis and me in this buyout.”
The JSE-listed Altron today announced its financial results for the year ended 28 February, saying group revenue declined 4%, impacted by the sale of the ATM Business and reduced revenue from Altron Nexus following its restructuring.
Group EBITDA increased 69% to R1.7 billion and operating profit more than tripled to R817 million.
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