Inspectorate International Ltd, a division of UK-based Inspicio Group, has bought Kalassay Group for $25.6 million, continuing the growing acquisition activity of the major geochemical assaying laboratories in WA.
Inspectorate International Ltd, a division of UK-based Inspicio Group, has bought Kalassay Group for $25.6 million, continuing the growing acquisition activity of the major geochemical assaying laboratories in WA.
Two other locally owned and operated assaying businesses, Ultra Trace and Genalysis, were also recently sold to larger companies.
Canning Vale-based Ultra Trace was purchased in August 2007 by Amdel Ltd, which has its head office in Victoria.
Maddington-based Genalysis was acquired in April 2007 by Caleb Brett Minerals, a division of UK-based Intertek Group.
Kalassay's main facility is located in Kalgoorlie and the group also has laboratories in Midvale and Leonora. The group has 90 employees and specialises in precious metals, base metals and iron ore.
Prior to the acquisition, Kalassay was a privately-owned company, established in 1989 to provide commercial assay services to the mining industry. Former owner, Tony White and his team will remain with the business.
Inspectorate Holdings Australia Ltd is part of the world-wide Inspectorate group of companies, the purchase of Kalassay complements the company's existing businesses in the US and Peru.
The full announcement is pasted below:
Acquisition of Leonora Laverton Assay Laboratory Pty Ltd and Yilgarn AssayLaboratory Pty Ltd
Inspicio plc, the UK and international inspection and testing company, announces that Inspectorate, its commodity inspection and testing business, has completed the acquisition of the entire share capital of Leonora Laverton Assay Laboratory Pty Ltd and Yilgarn Assay Laboratory Pty Ltd, which trade collectively as Kalassay, for a total cash consideration of A$25.6 million (£11.1 million) including deferred consideration of A$7.6m (£3.3 million).
Kalassay is based in Perth, Australia and provides exploration and mine assaying services, specialising in precious metals, base metals and iron ore at its laboratories in Perth, Kalgoorlie and Leonora. It has 90 employees and its clients include some of the major global mining companies.
The business will complement Inspectorate's existing network of laboratories and continue the development of its global metals and minerals business.
Mark Silver, Chief Executive of Inspicio plc, said:
"This acquisition continues to build Inspicio's global inspection and testing laboratory network. Developing our presence in the important Australian market is a further critical step in the development of our global metals and minerals inspection and testing business."
