The Jeminex Group, a provider of industrial equipment to the resources sector, this week announced the acquisition of clothing supply business, Worksense, for an undisclosed sum.
Worksense, which specialises in the retail and wholesale supply of industry workwear, as well as corporate clothing and school wear, generated total sales of about $18 million in the year to June 30 2007.
Worksense is the ninth acquisition made this year by Jeminex, which is backed by private equity investor AMP Capital.
Its acquisitions have given Jeminex a strong presence in the resource states of Western Australia and Queensland, with the group planning a stock market float in 2008.
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.
Other equipment and safety businesses acquired this year include Robertsons, Australasian Safety Co Pty Ltd, Safety NQ Pty Ltd and the Addrill Group, a commercial industrial construction business.
Jeminex chief executive Mark Allison said Worksense complemented the group’s other businesses.
“Worksense will add considerable value to the overall Jeminex proposition as we continue to expand and penetrate the industrial consumables and mining services sectors throughout Australia,” he said.
“We are well on track to building a diversified industrial group and bringing the company to market in 2008.”
The Jeminex Group generates annual revenue of about $265 million.
