Steel & Tube confirms acquisition of Aquaduct
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.