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Acuron acquires ENV, Noel Arnold

PERTH-BASED Acuron Ltd will divest its wound care products company Protex Healthcare (UK) Ltd for a move into environmental risk consulting with three potential acquisitions, a $15 million capital raising and a $6 million debt facility. Acuron will acquire Melbourne-based risk management consultants Noel Arnold & Associates for $16.25 million and Perth-based environmental consulting service ENV Australia Pty Ltd for $6.75 million in cash and scrip. To part fund the acquisitions, the company will raise $15 million through a public offer, as well as establishing debt facilities of up to $6 million. Acuron is in talks to buy Melbourne energy and water consultants ECC Pty Ltd. The company announced plans to change its name to Acuron Capital Ltd, and the consolidation of its shares and options on a 1 for 20 basis. Acuron chairman Andrew Gay will resign from the company and current company director Jeffrey Broun will be appointed managing director. Stephen Belben will remain on the board, which will be bolstered by Noel Arnold executives Noel Arnold and Andrew Meerman, as well as Scott Bird of ENV, following the acquisitions.

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