EDE is an Australia-based company that serves energy, infrastructure and resource industries and specializes in fabrication and installation of high pressure pipes, vessels, and tanks for a range of applications in oil and gas, mining and minerals, water, heavy industrial, and power generation industries.
EDE’s present yearly turnover is more than $85m, while Decmil is paying $19.275m to acquire 100% shares in the company and will pay another $10m in 12 months time.
The payment will be based on earnings and asset-based targets.
Decmil Group CEO Scott Criddle said the acquisition is a part of the company’s growth strategy to diversify its earnings by industry and geographically.
"EDE is an excellent fit for Decmil not only in terms of our strategy but also through the culture of its management team and their commitment to growth," Criddle added.
