NAIROBI, Kenya– The joint receivers of TransCentury PLC have invited investors to express interest in acquiring Avery (East Africa) Limited (AEA), a flagship industrial subsidiary, as the troubled investment firm continues efforts to restructure under receivership.
AEA, which traces its roots to 1970, is majorly owned by TransCentury with a stake of 94.4 percent.
The company has evolved from a supplier of industrial weighing systems into a regional engineering and infrastructure player, serving clients in energy, oil and gas, transport, mining, and agriculture.
“The transaction process is open to both financial and strategic investors,” the joint receivers, Muniu Thoithi and George Weru of PwC, said in the call for EOIs.
“Options include recapitalization, refinancing of debt, acquisition of business assets, or the outright purchase of TransCentury PLC’s stake in AEA.”
Headquartered in Nairobi, AEA manufactures and distributes weighing scales, provides calibration and servicing, and undertakes turnkey engineering, procurement and construction (EPC) projects.
The company operates across Kenya, Uganda, Tanzania, Rwanda, and beyond.
The sale process comes as TransCentury , once a high-profile infrastructure investment group, struggles to restructure heavy debts that forced it into receivership in mid-2023.
The group’s portfolio has faced mounting pressure amid delayed projects, liquidity constraints, and a difficult fundraising environment.
PwC emphasized that the invitation is not a tender or a binding offer but an initial stage to identify credible parties. Interested investors are required to submit profiles, strategic rationales, and evidence of financial capacity by September 3, 2025.
