03/09/2007 - 08:25

Amdel acquires Ultra Trace

03/09/2007 - 08:25

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Melbourne-based Amdel Limited has announced the acquisition of Ultra Trace Pty Ltd, Western Australia's largest provider of geoanalytical testing services, for an undisclosed sum.

Amdel acquires Ultra Trace

Melbourne-based Amdel Limited has announced the acquisition of Ultra Trace Pty Ltd, Western Australia's largest provider of geoanalytical testing services, for an undisclosed sum.

Colin Eldridge, Ultra Trace Joint Managing Director, said, "Ultra Trace is very proud of its innovative culture and service track record in the WA minerals industry and we look forward to joining the new Amdel to form a significant ustralia-wide analytical testing business. Amdel also provides a wonderful opportunity for Ultra Trace staff to further their careers in a diverse and successful organisation."

The acquisition of Ultra Trace follows the purchase of IML (Independent Metallurgical Laboratories) made by Amdel in
April 2007.

Steve McAllister, CEO of Amdel, stated that "Amdel has been focused on establishing a significant position in the WA minerals testing market. The Ultra Trace purchase alongside IML, now gives the company the scope to offer WA
customers a full suite of mineral testing services. We are also very much looking forward to Ultra Trace's innovation
adding value to the rest of the Company's laboratories."

Amdel now provides a comprehensive range of geoanalytical and mineral processing services to a premium list of WA customers with significant interests in iron ore, nickel and bauxite.

Amdel

Amdel has been a major provider of analytical services to the mining industry for over 47 years. Since 1960, the
company has expanded to now service the minerals, materials, petroleum, environmental and food sectors in Australia and New Zealand, through a network of 22 laboratories.

In December 2005, Amdel's senior management team were supported by CHAMP Ventures in a management buyout of the Company. CHAMP Ventures is one of Australia's leading private equity fund managers with a focus on mid-market management buyouts and expansion capital investments.Since this change, Amdel has focused heavily on customers and service levels, building its business including new laboratories under construction in Adelaide and Mt Isa.

Ultra Trace

Ultra Trace was formed in 1994 and owned by the Eldridge family with Colin and Victor as Joint Managing Directors. It quickly established a reputation for delivering quality analyical chemistry results to the WA mining industry. In later years, the Company invested heavily in high tech analytical equipment to meet the growing needs of nickel laterite and iron ore markets. Ultra Trace was the first laboratory in the world to implement a robotic sample preparation cell capable of delivering 1000 large mass samples per day and prides itself on continuing to be at the forefront of analytical innovation.

Ultra Trace Pty Ltd was advised on the transaction by Ernst & Young Transaction Advisory Services.

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