Invicta, backed by South African billionaire Christo Wiese, buys UK’s Spaldings Group for $16 million

Invicta Holdings, the Johannesburg-based investment company chaired by South African billionaire Christo Wiese, has expanded into Europe with the acquisition of Spaldings Group, a U.K. distributor of agricultural and ground care components. The £11.86 million ($16 million) deal gives Invicta full ownership of the Lincolnshire-based company.

The acquisition, completed on Sept. 1 through Invicta Global Holdings Limited, sees Spaldings purchased from Twinings Topco Limited and members of its management team. Invicta said the move fits into its plan to expand geographically while using its strength in procurement and supply chain management to sharpen competitiveness.

Spaldings joins Invicta’s global vision

Spaldings, founded in 1954, has been a familiar name in the U.K. agricultural market for 70 years. Known for supplying replacement parts and machinery, the company reported a net profit of £526,838 ($705,301) in 2024 and closed the year with net assets of £4.52 million ($6.05 million). Looking ahead, it expects sustainable profit for 2025 to fall between £1.4 million ($1.87 million) and £1.6 million ($2.14 million).

For Invicta, the deal offers a way to expand its replacement parts and engineering (RPE) business internationally while giving Spaldings’ customers access to a broader product range at competitive prices. The company expects to draw efficiencies from combined inventory procurement and distribution across its operations.

The £11.86 million purchase price, subject to adjustments based on Spaldings’ net asset value, is capped at £14 million ($18.74 million). Of this, £10.67 million ($14.29 million) was paid at closing, £1.19 million ($1.59 million) has been placed in escrow for 18 months against potential warranty claims, and the balance will be settled within 25 business days. Invicta funded the transaction entirely from its cash reserves, without conditions precedent.

Invicta expands with Spaldings acquisition

Invicta Holdings distributes engineering consumables and fluid technology products in Africa, Europe, and the United States, alongside on-site installation, maintenance, and support services. Wiese, who holds a 48 percent stake worth R1.54 billion ($87.08 million), has a net worth of $1.7 billion and has consistently backed businesses that provide steady returns.

The Spaldings acquisition marks Invicta’s entry into the U.K. market and sets the stage for further expansion in Europe. For Wiese, whose portfolio spans retail and industrial sectors, the deal underscores a long-term commitment to investing in businesses abroad that can deliver stable value to shareholders.