Australian and New Zealand-listed chemical supply chain management company DGL Group has announced the acquisition of Aquapac for $8 million, with $2 million of this in shares.
Aquapac is a specialty water treatment chemicals business with clients in mining, local government and industry on the east coast, and manufacturing in NSW and at Townsville, Queensland.
“Not long ago I outlined DGL’s strategic priorities for FY22, including the establishment of water treatment product manufacturing in North Queensland,” said founder and CEO Simon Henry in a statement to the ASX.
“I am pleased to announce that we are already delivering on this promise through the acquisition of Aquapac, which will fill a current gap in our manufacturing capabilities in Queensland.”
The acquisition includes property valued at $3.4 million, and the acquisition price is worth 5.4 times Aquapac’s revenues in the last 12 months. It will also see DGL fully integrate a new and “extensive suite of licenses and approvals and unique intellectual property” into its operations.
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