Sale of majority equity stake in Enerflow
IndustryNatural resources & Energy
BDO is proud to have acted as lead deal adviser to Enerflow, on its sale of a majority equity stake to emerging Australian mining services leader, the Norcliffe Group of Companies (Norcliffe).
The sale will see Enerflow accelerate growth and elevate operational capability on a national scale, and is a strategic acquisition for Norcliffe, which is expected to continue down the acquisition path as well as complete an IPO later this year.
Uniquely positioned to meet the strong and increasing market demand for production drilling services to gold and iron ore producers, Norcliffe represents the merger of two successful and complementary mining services businesses in Roc-Drill, an Australian and international drill and blast contractor, and now Enerflow.
Founded in 2012, Enerflow is a complete heavy mobile equipment rental (predominately drill and blast rigs) and maintenance business based in WA. The company employs more than 100 skilled staff, supported by a pool of 4,000+ specialist personnel, and has longstanding partnerships with Tier 1 miners and contractors.
The deal was facilitated by members of BDO’s Perth Mergers & Acquisitions team including Justin Boyce Cam, Todd Grover, and Cassie Adamini.
“This acquisition is a meaningful part of our growth strategy and gives us the capital and resources required to take our business to the next level. We would like to thank Cassie, Justin and the broader BDO team who have been integral in optimising the value of our business as well as guiding us through the sale process.”
General Manager, Enerflow Mining Services