26/03/2008 - 11:34

Jeminex Group acquires five new businesses

26/03/2008 - 11:34

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Unlisted company The Jeminex Group, a provider of industrial equipment to the resources sector, has purchased five new businesses raising its total number of acquisitions to seventeen.

Jeminex Group acquires five new businesses

Unlisted company The Jeminex Group, a provider of industrial equipment to the resources sector, has purchased five new businesses raising its total number of acquisitions to seventeen.

The five new businesses include footwear supplier JLD Footwear (JLD) and workwear retailer Midland Disposal Stores (MDS) which both have head offices in Midland.

MDS operates through six retail premises located in Midland, Rockingham, Morley, Fremantle, Perth and Joondalup while JLD has a warehouse in Midland and sells through a supplier in Myaree.

Jeminex's other acquisitions are workwear supplier Industrial Safety Apparel Solutions (ISAS), electrical earthing equipment business Energy Correction Options (ECO), and lifting, rigging and height safety distributors A&D Lifting.

Jeminex's portfolio of businesses specialise in distributing a range of consumables and components to the resources, energy and construction sectors in Australia, with a particularly strong presence in the resource states of Western Australia and Queensland.

Its acquisition strategy has targeted company's supplying industrial products and included several Perth-based companies - industrial packaging company Network Packaging, electricity product supplier Bri-Tech, industrial workwear wholesaler Noble Agencies, and drilling service provider Impact Drilling.

Jeminex's current portfolio includes Heatleys, Beaver Brands, Australian Safety Specialists, Robertsons, Australasian Safety Co, Safety NQ, the Addrill Group, Worksense.

AMP Capital Investors' Private Equity Fund III is the largest investor in the Jeminex Group and other shareholders include members of the board and senior management.

The Jeminex Group generates annual revenue in excess of $304million and the group plans a stock market float in 2008.


The full annoucement from Jeminex is pasted below:

 

The Jeminex Group, an Australian mining and construction products and services company, continues to expand with the acquisition of five new businesses, taking the number of acquisitions by the business to 17 as it strengthens its' growth platforms.

Jeminex operates a fully integrated supply chain across a broad product and service portfolio, in the key market segments of mining and resources, construction and infrastructure, utilities and manufacturing.

The new businesses include workwear supplier Industrial Safety Apparel Solutions (ISAS), footwear supplier JLD Footwear, workwear retailer Midland Disposal Stores (MDS), electrical and earthing equipment business Energy Correction Options (ECO), and lifting, rigging and height safety distributors A&D Lifting. The terms of the acquisitions remain confidential.

Following the acquisition of the five new businesses, the Jeminex Group now generates annual revenues in excess of $304 million.

ISAS develops and supplies FIRESISTEX, a unique flame resistant and durable work wear brand to the petro chemical industry. FIRESISTEX offers the high levels of thermal transfer protection with significantly improved wearer comfort.

As a leading wholesale business, JLD Footwear maintains the Australia and New Zealand rights to the licensed trade marks for 'Mack' branded industrial footwear, shoe polish, socks, sunglasses, sneakers, safety glasses and leisure clothing.

MDS sells a broad range of outdoor equipment, clothing and footwear through a network of six stores located in Perth metropolitan areas.

As one of Australia's primary lifting, rigging and height safety distributors, A&D Lifting distributes a wide range of chain, wire rope, slings, shackles, harnesses and fall arresters.

ECO is a leading distributor of earthing equipment, lightning protection and power quality solutions and provides design, installation and commissioning services for a broad range of power quality and general electrical products.

Jeminex Chief Executive Officer, Mark Allison, said that all five acquisitions are profitable businesses backed by experienced management teams and are attractive investments based on the synergies they bring to the overall Group.

"With blue chip customer bases, longstanding supplier relationships and strong product demand, all six businesses will significantly enhance and strengthen Jeminex's Workwear & Personal Safety, and Lifting, Rigging & Height Safety and Industrial and Electrical platforms."

"ISAS' ability to leverage the Noble Workwears' distribution network and offshore manufacturers provides further synergy benefits by allowing the business to expand its customer base into interstate and regional areas while increasing overall future revenues."

"JLD Footwear sells Mack branded product to a number of Jeminex businesses including Worksense, Australasian Safety & Safety NQ and MDS. We will now look to extend this to other businesses within the Jeminex network.

"As a renowned industrial footwear brand, Mack will position our Group to become a key player within the industrial footwear market and will provide a complementary fit with Jeminex's workwear brand Worksense."

"With strong supplier and agency relationships both domestically and globally already firmly in place, there also exists further opportunity to expand JLD Footwear's international business."

"ECO will strengthen Jeminex's industrial and electrical platform and together with our existing Bri-Tech business, the ECO business will benefit from rapid business expansion by leveraging their product mix, supplier relationships and skills base."

"A&D Lifting interfaces with many different types of industries including resources, engineering and mining services, making the business a strategic fit across a wide range of the Jeminex Group's businesses."

"The five new businesses will significantly enhance the Jeminex Group's network coverage throughout eastern and western Australia and will add considerable value to the overall Jeminex proposition as we continue to expand and penetrate the mining and construction services sectors throughout Australia."

"We look forward to welcoming the employees, suppliers and customers of ISAS, JLD Footwear, MDS, ECO and A&D Lifting to the Jeminex Group," Mr Allison said.

 

 

 

 

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