Steel & Tube con­firms ac­qui­si­tion of Aquaduct

DEMM Engineering & Manufacturing - - NEWS -

Steel & Tube Hold­ings Ltd has com­pleted its ac­qui­si­tion of Can­ter­bury-based Aquaduct and Bosch Ir­ri­ga­tion. Aquaduct spe­cialises in large bore long length poly­eth­yl­ene pipe and on-farm ir­ri­ga­tion and was a key sup­plier of prod­uct to the Valetta and Cen­tral Plains ir­ri­ga­tion schemes.

The com­pa­nies, founded by Ger­ard van den Bosch, went into re­ceiver­ship ear­lier this year, how­ever van den Bosch will con­tinue work­ing for S&T in a new role.

CEO Dave Tay­lor says the ac­qui­si­tion “will en­hance S&T’s ca­pa­bil­ity as a key sup­plier of retic­u­la­tion prod­ucts, tak­ing us into new and ex­cit­ing ter­ri­tory. Aquaduct is a great com­pany with an in­no­va­tive and ex­cit­ing prod­uct of­fer­ing that com­ple­ments our core busi­ness.”

The com­pany will con­tinue the Aquaduct and Bosch brand­ing. The con­sid­er­a­tion for the ac­qui­si­tion is $ 8 mil­lion in cash.

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