PRICEWATERHOUSECOOPERS LIMITED. (PwC) TENDER AUGUST 2025
| REQUEST FOR EXPRESSIONS OF INTEREST (“EOls”) |
TRANSACTION PROCESS REGARDING AEA LIMITED
- Background
AEA Limited, formally Avery (East Africa) Limited (“AEA” or the “Company”) is an infrastructure and technology-driven solutions provider established in 1970 with a track record spanning 5 decades. AEA has evolved from a provider of industrial weighing systems into a diversified enterprise delivering innovative projects and services that enhance infrastructure efficiency and sustainability.
Today, AEA operates in sectors such as power, agriculture, oil & gas, mining, transport, and industrial installations. The company manufactures and distributes a wide range of industrial, commercial, and retail weighing scales, as well as provides calibration, servicing, and after-sales support. Headquartered in Nairobi, Kenya, Avery operates from a well-established facility equipped for both local production and regional distribution.
AEA has built a strong regional presence and reputation serving clients in Kenya, Uganda, Tanzania, Rwanda, and beyond, with its operations span manufacturing, engineering, and turnkey project delivery – from precision weighing equipment and industrial automation to large-scale Engineering, Procurement & Construction (EPC) projects – offering integrated solutions that meet vital infrastructure needs across East and Central Africa. AEA is a subsidiary of TransCentury PLC (in Receivership) (“TC PLC”) contributing to the Group’s industrial engineering portfolio.
TC PLC currently owns a 94.4% stake in AEA and is seeking an interested investor and/or strategic partner to purchase its full stake and take on the opportunity to unlock value through a well- structured transaction process, designed to create equity value and foster growth of the company’s footprint across East Africa.
AEA is ready for its next phase of expansion, supported by a substantial project pipeline and rising demand in core sectors. Its strategic importance to the region – providing solutions in energy, transportation, and industrial development – underpins a strong platform for future growth
- Transaction Structure Options
The transaction process is flexible and open to both financial and strategic investors interested in:
- a)Recapitalization of the Company (to deleverage the business’ balance sheet);
- b)Refinancing of the Company’s indebtedness to a more sustainable capital structure;
- c)Going concern acquisition of the business and assets of Avery, and/or
- d)Purchase of TC PLC’s shareholding in Avery East Africa Limited.
The Receivers are also open to any other credible and viable transaction structures that achieve the mandate and objectives of the TC PLC receivership process.
- Submission Requirements
Interested parties should submit their EOI including:
- a)Name and contact details of the interested party
- b)Brief profile of the interested party
- c)Indication of interest (preferred transaction structure)
- d)Strategic rationale for interest in the investment opportunity
- e)Any relevant information that demonstrates credibility and eligibility for the Potential Transaction (including financial capability)
- f)Guidance on the timelines and information needed for due diligence
- g)Any other information you deem appropriate/necessary
- Submission Deadline
