Perth-headquartered mining services company Crushing & Mining Equipment has been acquired by Atlanta-based mining supplier H-E Parts International.
Perth-headquartered mining services company Crushing & Mining Equipment has been acquired by Atlanta-based mining supplier H-E Parts International.
The Perth firm was founded in 1988 by David Davenport and employs some 80 people with offices in Sydney and Brisbane.
The announcement is pasted below:
H-E Parts International (www.h-epartsinternational.com) today announced it has successfully completed the acquisitions of both Crown Parts & Machine (www.crownparts.us) and Crushing & Mining Equipment (www.crushingandmining.com.au), two world leaders in the supply of aftermarket parts and components to the mining, quarry and heavy construction industries.
Crown, established in 1975 by Paul Hatzell, is a manufacturer and supplier of parts and components, specializing in haul trucks and electric shovels. With primary operations in Billings, Montana and Antofagasta (Chile), Crown services its customers from 16 warehouse and sales locations throughout the world.
CME was founded in 1988 by David Davenport who was later joined by partner, David Macfarlane (CME Brisbane). Headquartered in Perth, Australia, the company also services its customers from operations in Brisbane and Sydney. CME sells new crushing equipment as well as wear products, parts and product support services for crushing and screening equipment. In recent years, CME has grown to become the largest independent distributor of its kind in Australasia.
Atlanta-based H-E Parts International is headed by J-P Richard, the former CEO of Massey Ferguson and AGCO Corporation(NYSE:AG), and is funded principally by Frontenac and CHAMP Ventures, the respectively Chicago-based and Sydney-based private equity firms.
Commenting on the transaction, J.P. Richard said "These acquisitions perfectly complement our mission. H-E Parts International was formed to become the leading independent supplier of parts, remanufactured components and equipment to the global mining, quarry and heavy construction industries."
Continuing, Mr. Richard remarked "since our inception in 2006, we have successfully acquired leading companies in their markets including, Dom-Ex (www.dom-ex.com), Tractoamerica (www.tractoamerica.com), Grace Track Services (www.gracetrackservice.com), Getco (www.getcoltd.com) and Birrana (www.birrana.com.au). The addition of Crown and CME is strategic to the organization and brings us one step closer to achieving our mission."
Remarking on the transaction, Paul Hatzell, President and founder of Crown, said "I am excited about the joined people and resources of Crown and H-E Parts. We share similar convictions and passions in caring for our mining customers, making our growth aspirations all the more obtainable".
David Davenport, founder and Managing Director, had the following comments "The alignment of CME with H-E Parts ushers in a new era of growth for CME. We share a common mission; to offer our customers the highest quality, service, and value. We are excited about the combined expertise, resources and networks of H-E Parts International". H-E Parts also announced that Davenport and Hatzell as well as their management teams will retain their respective positions at CME and Crown.
