SYDNEY, AUSTRALIA: Environmental Group Limited (ASX: EGL) announced the acquisition of Ignite Services Pty Ltd for a purchase price of $2.7 million. The acquisition includes all the assets of the business including working capital.
The transaction will add significant strength to the EGL offering with a highly complementary service and product offering, while being earnings accretive for EGL shareholders.
Ignite Services was founded by Tim Williams in 2005 and is based in Adelaide, South Australia. Tim previously trained and worked with SAGASCO and Origin Energy and had over 14 years’ experience across the industrial and commercial sector prior to establishing Ignite Services.
In 2015, Luke Langeluddecke and Terence Ricketts were integrated into the management and ownership structure of the business, each bringing with them a wealth of knowledge and experiences. The addition of their skills has made them key assets for the business moving forward.
With a customer focus and a passion for the gas industry, Ignite Services has strived to follow Tim’s founding philosophy: being big enough for excellent service, small enough to keep it personal.
Ignite Services install, service, and maintains gas fired equipment across a range of industries including mining, waste management, production facilities and industrial food processing plants. Ignite Services maintains a strong base of facility management contracts with clients in education, hospitality, hotels and resorts, corporate office buildings and retail shopping centres.
Most recently, Ignite Services has been involved with industry leaders and infrastructure companies trialling blended hydrogen. Green energy is a clear component towards meeting zero emission targets.
EGL Chief Executive Officer Jason Dixon said, “The acquisition will add further strength to our earnings while complimenting the Tomlinson Energy Services (TES) business with an expanded offering. With Ignite Services’ focus on combustion technologies and waste treatment technologies both EGL Waste and Water will benefit from the knowledge and experience Ignite brings to the Group.”
EGL has five business units, all committed to the protection of the environment by improving air quality, reducing carbon emissions, enhancing waste treatment, and lifting water quality.