NRW Holdings (ASX: NWH) has wrapped up its acquisition of RCR Tomlinson’s mining and heat treatment businesses from the administrators of the failed parent company. The two businesses will continue to be operated by the existing ~300 employees, who have received offers to become employed by NRW.
NRW Holdings Limited (ASX:NWH) is pleased to advise that further to the ASX announcement of 31 January 2019 it has completed the acquisition of RCR Mining and RCR Heat Treatment from the Administrators’ of RCR Tomlinson Limited.
The RCR Mining and Heat Treatment businesses which operate from primary locations at Welshpool and the regional centre of Bunbury together with a facility in Victoria will continue to be supported by the ~300 employees who have received offers of employment with NRW.
The acquisition will be earnings accretive with the purchase consideration of $10 million (subject to certain completion adjustments) being funded from NRW’s existing cash reserves.
Jules Pemberton, NRW’s Managing Director and Chief Executive Officer commented, “This acquisition delivers a complementary business to NRW and aligns with NRW’s strategy to broaden the service offering to Tier 1 clients at a time of improving market sentiment.
“RCR Mining includes RCR Mining Technologies, which is a brand recognised in the global market as a leading original equipment manufacturer (OEM) and innovative materials handling designer with an extensive product range.
“Since the announcement, NRW has received very positive engagement from clients who recognise the quality of the RCR Mining Technologies business and its people, together with the benefits the combination with NRW brings to their project objectives.”