Mining services company ADG Global Supply (ADQ) is pleased to announce the acquisition of Winchester Procurement Pty Ltd, a privately held, UK based procurement and supply business. The acquisition will extend ADG’s customer base, significantly lift its supplier reach and provide increased buying power for the Group. Winchester services clients in a number of regions with approximately 60% of sales into Africa. The terms of the acquisition are as follows: Acquisition of 100% of the shares in Winchester Procurement Pty Ltd; Purchase price of £1.125m based on Net Tangible Assets of £1.160m as at 31 December 2011 (unaudited); £350k paid on settlement (13th January 2012). This has been funded by ADG working capital; Balance due on 3rd January 2013.
John Mancini, Managing Director of ADG Global Supply said the acquisition substantially lifts the company’s global procurement and supply capabilities out of the Europe region and is a natural fit for ADG. “With the addition of Winchester Procurement, ADG expects a significant uplift to our European operations in terms of a considerably expanded supplier base, new customer and revenue streams. “The acquisition also increases our people and operational capability to quickly advance ADG’s plans to service clients across Africa.
Winchester Procurement was founded in 1990 and is a leading UK procurement and supply business with clients predominantly across Africa, and also the Middle East and the Caribbean. They service a variety of industries including mining, construction and NGO’s (non-governmental organisations including the UN). For the period January to December 2011, Winchester Procurement generated £6.2m (GBP) in revenue. ADG Global Supply (ADQ) is an industrial products, global procurement and supply chain services company. It works with clients in the exploration, mining and energy markets through our ‘single contact- global reach’ model. Headquartered in Perth, Western Australia,
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