Tox Free buys Mackay Maintenance for $4m

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.