Soul Patts buys electrical engineering business AmpControl

  • 📰 FinancialReview
  • ⏱ Reading Time:
  • 44 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 90%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Washington H Soul Pattinson has acquired 100 per cent of Ampcontrol, the country’s largest privately owned electrical engineering company.

Ampcontrol was founded in 1968 in Newcastle and has grown to $44.9 million EBITDA according to its most recent accounts. Its clientele includes resources, infrastructure and energy companies.

Soul Patts already owned 43.3 per cent of Ampcontrol. About four years ago, the business was touted as a lIt’s understood to have paid around the $200 million mark on an enterprise value basis to buy out minority shareholders, which was primarily the founder. Accounts filed with the Australian Securities and Investments Commission show Ampcontrol had $256.5 million revenue in the 2021 financial year, down slightly from $261.6 million the year before.

During the period, it sold its UK and France subsidiaries, improving the net profit after tax from $5.7 million in the 2020 financial year to $16.2 million in 2021. co-edits Street Talk, specialising in private equity, investment banking, M&A and equity capital markets. He has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines