SYDNEY, AUSTRALIA: Environmental Group Limited (ASX: EGL) introduced the acquisition of Ignite Services Pty Ltd for a buy order price of $2.7 million. The acquisition includes all of the assets of the enterprise together with working capital.
The transaction will add significant strength to the EGL providing with a extremely complementary service and product offering, whereas being earnings accretive for EGL shareholders.
Ignite Services was based by Tim Williams in 2005 and is based in Adelaide, South Australia. Tim beforehand trained and labored with SAGASCO and Origin Energy and had over 14 years’ expertise throughout the industrial and commercial sector previous to establishing Ignite Services.
In 2015, Luke Langeluddecke and Terence Ricketts were built-in into the administration and possession construction of the business, every bringing with them a wealth of knowledge and experiences. The addition of their skills has made them key assets for the enterprise moving forward.
With a buyer focus and a ardour for the gas industry, Ignite Services has strived to follow Tim’s founding philosophy: being big sufficient for excellent service, sufficiently small to maintain it personal.
Ignite Services install, service, and maintains gas fired equipment throughout a vary of industries together with mining, waste management, manufacturing facilities and industrial meals processing plants. Ignite Services maintains a strong base of facility administration contracts with clients in education, hospitality, hotels and resorts, company workplace buildings and retail shopping centres.
Most recently, Ignite Services has been concerned with industry leaders and infrastructure companies trialling blended hydrogen. Green energy is a transparent component towards assembly zero emission targets.
EGL Chief Executive Officer Jason Dixon said, “The acquisition will add additional strength to our earnings whereas complimenting the Tomlinson Energy Services (TES) enterprise with an expanded offering. With Ignite Services’ focus on combustion applied sciences and waste treatment applied sciences each EGL Waste and Water will profit from the knowledge and expertise Ignite brings to the Group.”
EGL has 5 enterprise units, all dedicated to the safety of the environment by improving air quality, reducing carbon emissions, enhancing waste treatment, and lifting water quality.
www.environmental.com.au