# Ainsworth Engineering and United Valve Company change ownership under BBBEE deal

Valve manufacturer Ainsworth Engineering and distributor United Valve Company were sold to new owner Siyabonga Meyiwa in a deal funded by the Industrial Development Corporation. The sale concluded in September 2018 and the companies were upgraded to Level 1 BBBEE status.

- Type: Acquisition
- Announced: 2018-11-09
- Where: South Africa
- Status: completed
- Products: valves
- Sectors: [Pumps and Valves](https://endata.com/sectors/pumps-valves.md)

## Companies

- [Ainsworth Engineering](https://endata.com/companies/3718.md) (target)
- [United Valve Company](https://endata.com/companies/3719.md) (target)
- [Industrial Development Corporation](https://endata.com/companies/3720.md) (investor)

## Sources

- [miningweekly.com](https://www.miningweekly.com/article/valve-companies-upgraded-to-level-1-bbbee-status-2018-11-09), 2018-11-09: "Valve manufacturer Ainsworth Engineering and its sister company valve distributor United Valve Company (UVC) are under new ownership and have been upgraded to Level 1 broad-based black economic empowerment (BBBEE) status."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.