Established in 1955, Duro Pressings continues to uphold its reputation as being one of the country’s leading building and construction suppliers. With a Johannesburg-based head office and branches across South Africa, as well as Botswana and Namibia, Duro is known for quality products ranging from window and door frames, to roll-up doors, awnings, paint supplies and do-it-yourself products. With a majority share of the company having been acquired by alternative asset management company Capitalworks recently, Duro is looking forward to generating renewed success with a new perspective and fresh inspiration, by building on the solid foundations that helped make the brand what it is today.
Duro is the latest investment to join the Capitalworks portfolio of investments in attractive growth sectors, amongst others, the building materials, recycling and healthcare industries.
CEO Greg Morris is not content for Duro to rest on its laurels, but rather to continue to lead the way in the industry. The current economic climate has seen a rise in the cost of materials in the building industry and this makes focusing on client service more relevant. Morris believes that “both consumers and those in the building trade are demanding more than just a good product”.
Duro’s vast product offering includes quality steel and aluminum products that are sold under recognised brands, as well as structural steel and innovative modular building solutions. In the interest of creating a better customer experience, Duro aims to educate clients on the vast product range in the hope of making customer choices better informed, and therefore simpler.
Together with a team comprised of new staff members and long-standing management - all of which are experienced professionals well equipped for the task at hand - Greg Morris is confident that Duro will continue to focus on providing high quality products at competitive prices.
Capitalworks founding partner Chad Smart commented on the transaction: “Our philosophy is centred around building exceptional businesses through partnering with leading entrepreneurs and management teams. The transaction with Duro is no different. We have invested in an exceptional business with a formidable and dynamic management team and we look forward to growing the business together with our new partners”.
With a strong footprint across Sub-Saharan Africa, market leading brands and a diverse product range across a variety of LSM categories and building markets, Duro is set to benefit significantly from the new partnership with Capitalworks. Duro Pressings non-executive director Eldon Beinart says, “We are looking forward to growing the business with our new partners. Over and above the capital that Capitalworks have provided, we believe they can provide valuable business and strategic support to the business and assist us in taking Duro to the next level”.