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Ambeon-linked ATX Partners, ARCASIA buy 58% stake of Alpha Fire
Daily FT
|June 03, 2025
A consortium comprising ATX Partners and ARCASIA Investments and Trading Ltd., yesterday bought 58% stake in Alpha Fire Services (AFS) for over Rs. 220 million.
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ATX and ARCASIA, which are also shareholders of Ambeon Capital PLC, equally acquired 25% stake each or 9.492 million shares at Rs. 10 per share. The other buyer was JBJ Holdings, who collected 3.15 million shares at Rs. 10 each.
Post-acquisition, ARCASIA holds 26.82% stake having held 0.68 million shares previously. ATX holds a 25% stake.
AFS is an industry leader and among the preferred brands in Sri Lanka's fire safety system installation services.
The sellers were AFS Directors S.V.A. Perera (11 million shares), M.C. Fernando (7.68 million shares), and A.S.I. Gunasekara (3.47 million shares). The adviser to the deal was Atarah Capital Ltd.
Overall, AFS saw 23.276 million of its shares change hands via 151 trades for Rs. 234.5 million. It closed the day at Rs. 13.10, up by Rs. 2.60 or 25% from its previous close.
AFS supplies, installs, commissions, and maintains fire alarm systems, fire hydrant systems, fire hose reel systems, sprinkler systems, fire flex systems, fire suppression systems, fire doors, kitchen hood fire suppression systems, fire extinguishers, and gas lines.
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