Contract mining and mining services group Ausdrill has bought the various entities making up the Best Tractor Parts Group (BTP). BTP was established more than 25 years ago and its business includes the supply of new and reconditioned/refurbished earthmoving parts; rental of heavy earthmoving equipment and specialised mining support vehicles; and sales of earthmoving equipment. These businesses are also supported by a hydraulics and engineering capability and a global procurement network.

Ausdrill is making the acquisition through subsidiary Ausdrill Mining Services for A$165 million on a debt free/cash free basis and said the deal complements Ausdrill’s existing equipment hire offering. Ausdrill Managing Director Ron Sayers said: “We regard this as a very strategically important acquisition as it provides a logical fit with Ausdrill Mining Services and other Ausdrill divisions. In addition to introducing new revenue streams to Ausdrill’s existing activities in Australia, it will enable us to grow our hire fleet from 117 to 194 vehicles, enhance our maintenance capabilities and capture additional opportunities to build relationships with blue chip customers.”

Brian and Greg Murphy, two of the current owners of BTP, have agreed to provide consultancy services to the business for 12 months after completion and the sellers have agreed to certain restraints to protect the goodwill of the BTP business.