Tox Free Solutions has purchased Queensland company Mackay Maintenance Services for $3.9 million in cash and existing asset finance.
The Perth-based waste management company said today in a statement the acquisition would provide Tox Free with a new geographical presence to access the coal sector in the Bowen Basin.
Mackay Maintenance Services achieved earnings for interest, taxes and depreciation of $1 million in the 2010/11 financial year, and the purchase included $2 million in a plant and equipment.
Tox Free said the acquisition would assist it in realising its strategy to provide total waste management and industrial services for the oil & gas and mining sector throughout Australia.
Mackay Maintenance Services director Geoff Bird and general manager Graham Seymour will continue in employment with Tox Free.
Tox Free shares were up 3 cents to $2.08 at close today.
