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Establishment of Wholesale Housing Supplies (WHS)
  • Acquisition by City Investment Holdings of WHS
  • City Investment Holdings, through the disposal of the manufacturing businesses and the acquisition of wholesale distribution companies, is transformed into a wholesale distribution company
  • Acquisition of Saffer from Boumat Limited
  • DAWN's strategic change in direction - to be a vertically integrated distribution and trading specialist
  • City Investment Holdings is renamed Distribution and Warehousing Network Limited (DAWN) and the listing is transferred to the Industrial - Retail sector of the JSE
  • Acquisition from Barlows of Hardware Distributors SA, now trading as WHDsa
  • The DAWN Share Trust is created
Acquisition of the assets of Windoor, a focused hardware and tool wholesaler, now trading as Stability
DAWN's shares are dematerialised under Strate
  • DAWN's listing is transferred to the Construction and Materials - Building Materials and Fixtures sector of the JSE
  • DAWN Cargo is created as a separate profit centre and the fleet of vehicles in the Group is expanded
  • DAWN embarks on an extensive share repurchase programme and obtains shareholder approval to repurchase 98,2 million shares (33% of the issued share capital) at a cost of R46,35 million
Acquisition of 30,43% of the equity in Incledon, a company with its primary investment being an effective equity holding in Incledon DPI, an entity which focuses mainly on the wholesale of plumbing and engineering goods and equipment in the civil and construction sectors
  • Revenue exceeds R1 billion for the first time
  • Ukhamba Holdings, through its whollyowned subsidiary, Dream World Investments 239, acquires 33,47% of DAWN. 10 million deferred ordinary shares, with a vesting period over five years, are issued to Ukhamba to bring the effective BBBEE shareholding in DAWN by Ukhamba to 38,8%. Ukhamba is a broad-based blackowned investment holding company whose beneficiaries include some 15 000 historically disadvantaged individuals and a number of community trusts
  • Acquisition of 76% of the share capital of AFF, a manufacturer and distribution of kitchen fittings, hinges and related products, for R15,2 million
  • Acquisition of 77,6% of Cobra Watertech, a manufacturer and supplier of taps and related accessories
  • Establishment of DAWN HR Solutions, DAWN Marketing & Design, DAWN Business Systems, DAWN Packaging and DAWN Merchandising
  • The DAWN Academy is launched
  • Acquisition of 79% of the share capital of Libra Bathrooms and Amanzi Bath Works, manufacturers and distributors of bathroomware, at a combined cost of R21 million and merging the two entities under Libra
  • Acquisition of a 49% interest in Halsted Investments (Lasher Tools) for a consideration of R60,9 million
  • Acquisition of the business of ISCA, a leading tap and mixer supplier, for R98,2 million
  • Acquisition of the business of Vaal Sanitaryware, a manufacturer of ceramic sanitaryware through both vitreous china and fireclay production, for R23 million
  • Acquisition of a 100% shareholding in DPI Holdings, the leading supplier of PVC pipes and fittings to the building and infrastructure sectors and also a 50% shareholder in Incledon DPI and a number of decentralised engineering trading entities in the major regions as well as cross-border manufacturers, for a consideration of R50,5 million
  • Acquisition of the remaining 69,57% interest in Incledon (see 2003) for a consideration of R33,8 million
  • Revenue exceeds R3 billion
  • DAWN is rated first in the Sunday Times Top 100 Companies
  • Formation of AST as a joint venture with Franke Holding AG. AST offers warehouse and distribution facilities for branded product ranges in Africa and the adjacent Indian Ocean islands, as well as showroom and office facilities
  • Acquisition of a 49% shareholding in Sangio Pipe, a manufacturer of high density polyethylene and polypropylene pipes in KwaZulu-Natal, for R5,5 million
  • Acquisition of a 33,3% shareholding in Plastic Investments International Limited (Fibrex S.A.R.L.), a plastic pipe extrusion operation in Angola, for R13,3 million
  • Establishment of DAWN International
  • Acquisition of the business of Roco Fittings for R55 million and formation of the DAWN Kitchen Fittings division with AFF
  • Acquisition of a 49% interest in Heunis Steel for R50 million
  • Acquisition of a 49% interest in Electroline for R0,8 million
  • Gauteng trading operations move to a centralised distribution facility in Germiston
  • Debt reduction and debt restructuring process mainly through a capital raising of R300 million by way of a rights issue (41,7 million shares)
  • Acquisition of the business of Plexicor, an acrylic bath manufacturer based in Pietermaritzburg, for R8 million
  • Reporting segments are changed from that of Trading and Manufacturing to that of Building and Infrastructure, and Support Services
  • The Group adopts a focused cluster approach to allow for the extraction of synergies and cost reduction
  • Disposal of interest in Halsted Investments (Lasher Tools) for R70 million
  • Acquisition of a 49% interest in Apex Valves for R4,2 million
  • Electroline becomes a wholly-owned subsidiary with the acquisition of the remaining shares for R0,4 million
  • Acquisition of final stake in Cobra for R31,7 million to own 100% of the business
  • Establishment of DAWN Business Development
  • The Support Services segment is renamed DAWN Solutions to reflect a more collaborative, proactive, partnership-based approach to in-house customer relationships
  • Kwikot becomes DAWN's joint venture partner in AST
  • DAWN Cargo and DAWN Distribution Centres adopt a unified approach and are collectively referred to as DAWN Logistics
  • Acquisition of a further 11,4% voting interest of Apex Valves for R7,8 million, which increases the Group's interest to 60,5% resulting in DAWN obtaining control over Apex Valves
  • Acquisition of a 51% interest in Ubuntu Plastics, a company principally involved in the fabrication of plastic pipe fittings, for R7,4 million
  • DAWN Projects is established to provide specialised project management services, with a particular focus on energy, waste, infrastructure and process optimisation, to Group companies and selected external companies
  • DAWN Financial Solutions is formed to render assistance to Group companies on monthly financial reporting
  • The start-up of IPS & Distribution, a business focusing on the wholesale and distribution of irrigation products, pipe, pipe fittings and hardware to the agricultural sector, with a 49% shareholding
  • Acquisition of a 51% shareholding in Swan Plastics, a manufacturer of PVC pipes and fittings, for a total consideration of R20 million
  • Acquisition of a 49% shareholding in Exipro Manufacturing, a producer of plumbing brassware, for R5 million (a company in the disposal group)
  • An additional 15,67% shareholding to a total of 49% in Plastic Investments International Limited (Fibrex S.A.R.L.) is acquired for R11,2 million
  • 100% of Sangio Pipe is obtained through a share buy-back. The amount of net assets acquired amounted to R16,5 million
  • The start-up of Wilhelm Import Network (WiiN), an upmarket bathroom fittings business
  • Agreement is entered into between DAWN and Grohe Luxembourg Four SA (Grohe) for the acquisition by Grohe of a 51% interest in the Watertech Companies (Cobra, ISCA, Apex, Exipro, Vaal and Libra) and the entering into of distribution agreements to ensure the enhancement of DAWN's distribution footprint
  • DAWN receives its inaugural Standard and Poor's rating, a credit rating of zaA-. The Group embarks on a debt restructuring programme and a world-class treasury function is established
  • Increase shareholding in IPS & Distribution from 49% to 100%, and integrating the business with Incledon
  • Increase shareholding in Pro-Max Welding Consumables to 89%
  • Increase shareholding in Hamilton's Brushware to 74%
  • Acquisition of 76% of Boutique Baths, a manufacturer of high quality free-standing cast baths.
6
  • Disposal of 49% in Heunis Steel
  • Recapitalisation of the Group through a R350m rights issue
  • Consolidation of international manufacturing and trading operations into one division
  • Decentralisation of shared services.