Metrofile Holdings said it has received the approval of the South African competition commission to acquire 100% stake in Tidy Files.
The company said it paid about ZAR75 million in cash to seal up the acquisition in cash.
Metrofile Holdings Limited has been listed on the JSE Limited since 1995 and its ordinary shares are quoted in the “Support Services” sector of the JSE. Metrofile is a black-owned Company with black ownership amounting to 53.36%.
Its largest shareholder is its empowerment partner, Mineworkers Investment Company which owns 34,41% of Metrofile’s equity. Covering more than 87 136 square metres of warehousing and office space.
Tidy Files was established in 1978 in Johannesburg, to provide a complete range of filing and archiving products for almost every industry.
The company has since developed a formidable reputation as a market leading document and records management solution provider and has experienced significant growth, extending its national footprint to branches throughout all major regions in South Africa.
While the company employs 300 staff and has more than 14 000 clients nationwide, Tidy Files remains committed to the values and Code of Good Practice which informs every aspect of its operations and is dedicated to a number of Corporate Social Responsibility initiatives which aim to uplift, empower and sustain individuals and communities.
Tidy Files understands that while all sectors and businesses rely on an efficient document and records management system, each also has its own unique requirements. Therefore, Tidy Files is a specialist in creating a complete and customised client solution. A new customer’s specific document and records management needs are all addressed by the Tidy Files range of products and services.
