SYDNEY: Ashley Services Group Limited has acquired 100% of the shares in The Instruction Company Pty Ltd, a Registered Training Organisation (RTO) servicing the Rail sector nationally.
The final acquisition price will be between $1.85-2.0 million. Unaudited FY20 results for The Instruction Company was a normalized EBITDA of $0.5million on Revenue of $2.4million. The purchase consideration will be funded from existing cash reserves.
Ashley Services Managing Director Ross Shrimpton said, “The acquisition of The Instruction Company is an important strategic move for Ashley, giving us exposure to the large and rapidly growing rail industry. We are pleased to welcome the Instruction Company team who bring substantial rail industry experience and knowledge along with a broad national customer base”.
The acquisition is expected to be EPS accretive in FY21and the purchase provides Ashley Services Group Limited with the economic benefit from 1 July 2020.
The Instruction Company has, since 1996, been creating and delivering rail training solutions to track owners, rail operators, contractors and service providers across Australia.