Ampcontrol has today announced the agreement with Washington H. Soul Pattinson and Company Limited (WHSP) to acquire 100% shareholding.
The acquisition comes as we accelerate our diversification strategy to be at the forefront of developing and supplying advanced technology, products and services to the resources, infrastructure, and energy sectors that enable a competitive advantage in a net-zero carbon environment.
Australia’s second-oldest public company listed on the Australian Stock Exchange (ASX: SOL), WHSP has significant investments in a diverse portfolio of assets across a range of industries.
Ampcontrol Managing Director & CEO, Rod Henderson, said the investment acquisition marks a remarkable new era for the Australian manufacturing business and the next chapter in our growth story.
“The increased investment by WHSP cements ongoing commitment to our strategic business plan for the continued growth of our core manufacturing business, as well as allowing us to take advantage of various synergies, partnerships, and expansion opportunities across new and emerging domestic and international markets that will better serve our customers, industry and community in an ever-changing global landscape.”
Washington H. Soul Pattinson Managing Director, Todd Barlow said “Ampcontrol is uniquely positioned to capitalise on the decarbonisation thematic with its people, technology, and services. The founders of Ampcontrol, in particular Peter Cockbain, have created a great platform business and WHSP is excited to be investing further in its next stage of growth.”
WHSP has held a majority shareholding in Ampcontrol Limited since investing in the company in 2005 and will now acquire the remaining shareholdings from other investors including Ampcontrol Co-Founder Peter Cockbain.
Acknowledging the successful history of Ampcontrol, Rod Henderson thanked the foresight of co-founders Neville Sawyer, Peter Cockbain, Keith Grant and Tony Studdert who started the business in a small shed in Newcastle NSW in 1968.
Peter Cockbain said “Ampcontrol was founded on the vision of turning revolutionary ideas into products and services that created employment, improved productivity, safety, and efficiency in regional, then national, and finally international markets. It was that vision that has benefited families, industry, commerce, and now the environment – and that will continue to be the focus.”
“We thank Peter for the legacy he leaves Ampcontrol with immense gratitude for creating the opportunities of today that allow the business to transform for the future. We are now positioned to inspire the next generation of passionate and talented people, along with our customers and new owner Washington H. Soul Pattinson, to continue our innovation journey with us,” added Mr Henderson.
The completion of the acquisition will have no impact on current trading, branding, orders, workforce or operations across the Ampcontrol Group of Companies.
Ampcontrol remains proudly 100% Australian privately owned and operated.
Read the full Media Release below.