Alceon buys into BOSS

Alceon Private Equity has taken a 50 per cent stake in agriculture and transport industry equipment maker BOSS Engineering.

According to a statement from BOSS, it is the first institutional capital and will allow it to increase both its rate of growth and geographical reach.

The value of the stake was not disclosed, though according to The Australian Financial Review it values BOSS at about $170 million on an enterprise valuation basis.

The company said it currently has 27 robots operating in its 32,500 square metre facility in Inverell, “producing the market’s most sophisticated and highest yield generating seeders, planters and aircarts, and manufacturing heavy duty aluminium and steel ute trays, trailers and accessories”. It employs approximately 220.

“The partnership with Alceon PE will empower BOSS to solve more problems for our customers and increase employment throughout Inverell and other locations, such as our newly established Wagga site and soon to open Tamworth and Toowoomba sites,” said CEO Nathan Barnett.

“Alceon brings growth capital and scaling experience that complements our core capability of  engineering excellence. Importantly to us as hands on business owners and managers, Alceon  structures each investment as a separate vehicle as opposed to a large multi-investment fund which  means we are not beholden to fund closure timetables.”

BOSS was established in 2007 by Mick Grills, Andrew English, Dan Ryan and Peter Mansur.

Picture: supplied