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ShieldLiner seeks to raise $2.8m

APPLECROSS-BASED pipe services firm ShieldLiner Ltd will raise $2.8 million through a placement with Indian Ocean Capital as the company refocuses its business strategy. ShieldLiner, which previously had an exclusive focus on its ShieldLiner trenchless pipe lining technology, recently won the Australasian rights for the sale of glass reinforced epoxy pipe and the use of pipe repair technology, Saertex, which company managing director Trevor Gosatti said marked the start of an exciting phase of development. $240m bridge deal for Macmahon JV WELSHPOOL-BASED Macmahon Holdings Ltd’s Queensland-focused joint venture has signed on to construct a $240 million bridge over the Brisbane River, under a contract with the Brisbane City Council. Macmahon holds a 30 per cent stake in the company, named the Hale Street Link Alliance, which also involves Bouygues Travaux Publics, Seymour Whyte Holdings and Hyder Consulting. PearlStreet buys in for $5.2m ASSET management company, PearlStreet Ltd, has executed an option agreement to acquire Victoria-based non-destructive testing company Australian NDT for $5.2 million in a cash and scrip deal. The acquisition by Perth-based PearlStreet will be 90 per cent funded through existing debt facilities, with the balance satisfied through the issue of PearlStreet shares at 78 cents per share. The shares issued will be held in escrow for a period of 12 months. “This acquisition significantly increases our penetration into the Victorian power sector within the Latrobe Valley, and the pipeline sector nationally,” PearlStreet managing director Anthony Wooles said.

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