The Environmental Group Limited (ASX:EGL) is pleased to announce the acquisition of Ignite Services Pty Ltd (“Ignite Services”). 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 will continue to run as a standalone business within the EGL Tomlinson Energy Service division. The acquisition rationale is based on revenue synergies that can be achieved from complimenting and growing Ignite with the EGL infrastructure. No costs savings have been assumed. All employees, including the three current directors, will remain with the business with the opportunity to grow and develop their careers as part of a larger group.
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.”
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Accredited to ISO 45001:2018, ISO 14001:2015 and ISO 9001:2015.
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