Enviropacific: CI Agent merger and a $20m boost
Enviropacific has acquired CI Agent Solutions Australia Pacific. This is a good fit for CI Agent, as Enviropacific already has a relationship as a distributor of their product and with increasing demand for these solutions and the much needed expanded capabilities and resources required to meet these demands, this merger was a natural progression for both companies. Enviropacific also recently acquired one of the largest Offshore Spill Suppliers in Australia “Spilltech” adding to the increased capabilities of the group.
Investment in the growth of Enviropacific has also been forthcoming with a commitment from newly established private equity firm, Adexum Capital who have agreed to buy a 44 per cent stake in Enviropacific for $20.2 million with exclusive rights to invest further. The deal with Adexum follows a failed bid by Ramky Group to acquire 100 per cent equity in the Australian company.