enX Group Limited, formerly Austro Group Limited, has been listed in the JSE’s “Industrial Engineering” sector, “Industrial Machinery” sub-sector since 2007. Austro’s name originated from the woodworking machinery business, Austro Proprietary Limited, its sole asset at the time of listing in 2007. The group subsequently acquired the power businesses and has recently acquired an oil lubricant business which represents Mobil and ENI in sub-Saharan Africa. Following these major changes in the composition of the group, the board elected to change the name of the group to better reflect the group’s new composition and the direction in which it is heading. The name enX is an acronym for Energy Exchange and it highlights the board’s intention to refocus enX as an energy and industrial supplies company servicing sub-Saharan Africa.
Currently the three key business units of the group include:
Power, which incorporates:
- Private Power Sales (New Way Power) – manufactures, supplies, installs and maintains diesel generators
- Temporary Power (Neptune Plant Hire) – provides temporary power in the form of rentals of diesel generators
- Distribution (Power O2) – distribution of internationally branded diesel engines and components
Fuel (Centlube) – the production, marketing and distribution of oil lubricants
Wood (Austro) – the distribution and maintenance of professional woodworking equipment, tooling, sharpening and edging
In 2013 enX’s leadership was reshaped with the appointments of a new CEO, Paul Mansour, and Financial Director, Jarrod Friedman, as well as divisional executives including Christian Neuberger, who was appointed CEO of Wood.
Corporate advisor, Wild Rose Management, was contracted to provide strategic and business support services to enX. In addition to the above appointments, Hyram Serretta was appointed as CEO of New Way Power in January 2014.
Paul Baloyi, Nopasika Lila, Mpho Makwana and Paul O’Flaherty were appointed to the board in February 2014. Steven Joffe was appointed to the board in May 2014 and was elected as Chairman of the board in November 2014.
The new executive and non-executive leadership, supported by Wild Rose Management, is positioning enX for growth. The intention is to introduce new industrial energy platforms into enX, which we believe will deliver appropriate returns on capital and have good growth prospects throughout sub-Saharan Africa. We intend developing these new and existing platforms over time, through a combination of organic and acquisitive growth.