Elso rebrands popular cleaning agents, unveils plans for strategic growth in local manufacturing
Under the guidance of private equity investor Eos Capital, its most recent acquisition, Elso Holdings, went back to the drawing board to redesign the look and format of its market leader, Citro multipurpose cleaner.
Elso Holdings, a local manufacturer and distributor of household and industrial cleaning products, donned its Eos hat last year March when former owner and Chief Executive, Rene Rusch, accepted an offer from the new investor. Elso was on top of a wave, having just announced an extensive deal to be the local agent for the South African company, Goscor Cleaning Equipment.
Eos Capital made the investment in Elso through its Allegrow fund.
In the meantime, Hilton Loring has taken over from Rusch in August last year, immediately shifting his focus to local manufacturing as this is the area where Eos Capital believes the greatest potential for growth lies. It is also the area where the investor sees the biggest opportunity for local value adding and for job creation.
At its first stakeholder meeting this week Wednesday, Elso Holding used the platform to unveil a new range of products, and to unveil its new label design for its flagship household cleaner, Citro. “Elso is today the only local manufacturing company in Namibia that is offering a multipurpose cleaner as well as a glass cleaner,’ the company said at the meeting.
“Elso has a strong potential to grow on its proven manufacturing track record and strong historic base. Over the next two years, Elso will be embarking on a number of expansion programmes to ensure that the company achieves its strategic goal to create a strong manufacturing business within Namibia, which in return should increase jobs,” stated Eos Executive Chairman, Johannes !Gawaxab.
Elso already has a strong manufacturing base with production facilities in Swakopmund and Windhoek employing over 140 people. Elso is upgrading its manufacturing base to modernize the factory and consequently, extend the range of products and packaging.
Since August last year, Elso has signed a number of innovation contracts with key suppliers to fast track new trends and ingredients in cleaning agents and solutions. Elso said it is committed to build on its green and affordable legacy.
“We are proud of our heritage and we would like to thank all our partners, customers, suppliers and our employees for their support in building the business to the great business it is today. We would like to invite all our stakeholders to be part of our exciting journey as we grow into our promise,” stated Loring in his first public appearance as new Chief Executive.