Energy Club

Northern Territory

  • Home
  • News
  • EGL buys RCR's energy division

EGL buys RCR's energy division

07 Jan 2019 1:52 PM | Sonia Harvey (Administrator)

THE piecemeal sale of RCR Tomlinson continues with its energy business being sold to The Environmental Group Limited via administrators McGrath Nicol, announced today.

It will be funded from EGL's existing debt facilities and will complete within the first half of the month, with no purchase price given at the request of McGrath Nicol until the end of this month.  

EGL says the business has "a strong track record of profitability" and the buy is earnings per share accretive "on a full year basis" excluding one off costs such as integration.   

It "will provide EGL with a recurring revenue stream to balance the project based on revenue of EGL's Baltec and TAPC division," the company said this morning.  

EGL purchased Baltec IES last year, announcing a memorandum of understanding in August and acquisition completion in December.  

The main point of this new buy is to progress the company's plans for what it calls a "bio / waste to energy platform" given it will be acquiring tech that allows a combination of gasses and waste energy sources  to be used to produce electrical power or steam.  

 It will also help EGL establish a footprint in all states "and build an environmental business to improve air quality, reduce carbon emissions, enhance waste-to-energy and lift water quality".  

EGL has said it will absorb the current staff. 

Source: Energy News Bulletin

Read more here.

Energy Club NT is an Incorporated Association 

The information contained in this website is for general information purposes only. The information is provided by Energy Club NT Inc and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.

In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.

Through this website you are able to link to other websites and files which may not be owned, authored or under the control of Energy Club NT Inc. We have no control over the nature, content and availability of other websites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.

Powered by Wild Apricot Membership Software