InGlobo Expands WA Footprint
Boutique private equity firm InGlobo has bought specialist maritime, oil and gas supply firm Kooyong Industrial Supplies, for an undisclosed sum.
The merger of InGlobo’s industrial supply division, Integrated Industrial Mining Supply (IIMS) with Kooyong capped off a relatively quite 2009 for the Subiaco-based private equity firm, which launched an aggressive acquisition campaign in the mining services sector in 2008.
InGlobo managing director Bruce Davis said he was thrilled to have consummated the deal after six months of negotiations, despite the overall lack of activity in the mergers and acquisition space during the last 12 months.
“We have reviewed over 100 investment opportunities in 2009 and felt KIS complements Integrated Industrial Mining Supply’s hard rock mining focus and offers an additional sector to enjoy growth during the mining, oil and gas renaissance in Western Australia,” he said.
IIMS managing director Rod Cox, who will work closely with Kooyong founders Greg Morrall and Alan Turner, said synergies would enable it to build on the growing mining services sector.