Scheltema new shareholders. Zubeir Fisher, Stuart Edelstein, Girshwan Bredenkamp.

Key managers secure 26% shareholding of commercial and industrial services specialist, Scheltema

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Leading Southern African roofing, ceilings and partitioning specialist, Scheltema, has announced the allocation of just over a quarter of the company’s shareholding to three of its managers.

The company, which primarily operates across the Western Cape, says that bringing in these three key managers at a shareholder level will not only better secure enhanced long-term prospects for the business, but also provides incentives for longer tenure and offers greater financial potential, benefiting both the company and individuals.

Operations Manager in the Roofing division, Girshwan Bredenkamp; Operations Manager in the Ceiling and Drywalling division, Zubeir Fisher and Financial Director, Stuart Edelstein, have together secured a 26% share of Scheltema, which took effect on 1 March this year. All three executives are also in the process of being appointed as Directors.

“Each of these executives are excellent at what they do, having established a solid track record at Scheltema. They are also young with bright prospects, and we see this share deal as an investment in the future of the company, and a great opportunity for these individuals in the medium and longer term,” says Michael van Breda, Group CEO, who alongside Managing Director Wouter Viljoen are the other active shareholders in the company.

The Scheltema Board. Back: Girshwan Bredenkamp, Stuart Edelstein. Front: Zubeir Fisher, Michael van Breda, Wouter Viljoen.

Bredenkamp has been with Scheltema since 2016, having started as a project manager within the Roofing division, and has gained extensive experience over the last eight years, with an outstanding track record collaborating with stakeholders.

Fisher started with the company in 2011 and has demonstrated proficiency in evaluating cost control measures and enhancing customer satisfaction at a Project Manager level within the Ceilings division.

With both the Roofing and Ceilings divisions now needing a head of operations, Bredenkamp and Fisher’s proven capabilities sees them both move into respective directorship roles. In the Roofing division, Bredenkamp will now co-lead alongside Marcellus Finlayson, Commercial Manager since 2011. In the Ceilings division, Fisher will now co-lead alongside Andre Le Roux, Commercial Manager since 2022.

Edelstein, with a background within the property sector, has proven his abilities from a financial perspective as well as in problem solving and management.

“All three are at a stage where the acquisition of these shares is merely the starting point of their journey, and what we hope will be a long and fruitful tenure with the company,” van Breda says.

The opportunity to bring in three managers at shareholder level was realised when Stephen Arrow retired as a director and relinquished his shareholding in the company. Arrow had been a senior manager with the company since 1977.

“Making Girshwan, Zubeir and Stuart directors is a natural progression to the shareholder deal. As five directors from diverse backgrounds, with both high level operations capabilities and focus, we make up a highly capable and experienced board which is very exciting for the future of the company,” says Viljoen. “By continuing to trade in the way we do, and have done, we believe that we are a force for good in Cape Town and the greater Cape area. The business is in good hands”.

Scheltema was established in 1931 when original founder Cornelius Scheltema began importing clay roof tiles from Europe. Despite weak growth rates in the country over the last decade which has had a major impact on the construction sector, Scheltema continues to show steady growth, attributed to opportunities within the logistics, data centres and solar rooftop space on the roofing side, as well as in short-term accommodation, housing, schools, shopping centres and luxury homes on the ceilings side of the business.

With the growth in e-commerce, Scheltema also identified the opportunity to launch Buildmate in 2021, an online retail platform which offers trade prices on building materials, convenient delivery options, and tech services to homeowners, bakkie builders, skilled tradesmen and farmers. With over 8 000 subscribers and a range soon to number over 5 000 products, the business has seen a 25% growth year on year.

“We focus on helping smaller builders and the DIY market grow their businesses through technology – simple ordering, a large range of product to choose from, and fast delivery,” says van Breda. “Buildmate has now established itself as a meaningful part of the overall Scheltema Group”.

Next for Scheltema is to continue its growth trajectory and talent acquisition, with the company now also looking to recruit a quantity surveyor with commercial experience to join the Ceilings business.

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