ASX aspirant Norcliffe Mining Services has finalised its acquisition of Enerflow Mining Services in its second notable buy of the year.
The company describes Neerabup-based Enerflow as a heavy mobile equipment rental and maintenance business.
The acquisition comes ahead of Norcliffe’s proposed listing on the ASX this month.
Norcliffe founding director Charlie Massarella said the company had been in discussions with Enerflow for “some time”.
“Its diversified income streams - rig dry hire, labour hire, and parts and maintenance - mitigate the cyclical nature of mining and will support our commitment to driving consistent returns for shareholders,” Mr Massarella said.
The deal follows its recent acquisition of Queensland drill and blast company Roc-drill which settled earlier this year.
Subiaco-based BDO acted as adviser to the deal.