MELBOURNE, AUSTRALIA: DGL Group Limited (ASX:DGL) announced the strategic acquisition of Total Coolant Management Solutions Pty Ltd (Total Coolants).
Total Coolants is a manufacturer and distributor of quality maintenance prevention products into the mining, marine, wind farms, power generation, agriculture sectors.
Primary activities include manufacturing of non-toxic coolant for all engine types, used to maintain engine temperature and alleviate corrosion.
Founder and CEO of DGL, Simon Henry, said: “The acquisition of Total Coolants will add to DGL’s mining product range.”
Total Coolants diversified customer base and geographical footprint further enhances the capabilities of DGL’s Chemical Manufacturing division, aligned with DGL’s cross- sell strategy.
The acquisition price of $2.47 million comprises a cash payment of $2.17 million; and $300,000 as ordinary shares in the capital of DGL, share price determined based on a 5-day VWAP at completion.
DGL is a well-established, founder-led, end to end chemicals business that manufactures, transports, stores and manages the processing of chemicals and hazardous waste. The Company operates a network of 55 sites, both owned and leased, across Australia and New Zealand. The Company has a strong track record of revenue and earnings growth.
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