Australian Securities Exchange-listed Ruralco Holdings Limited (“Ruralco”) today announced it had completed the acquisition of 100% of Total Eden Holdings Pty Ltd (“Total Eden”) for a purchase price of $57.4 million.
Total Eden provides end to end water management solutions across its two trading divisions, being Networks and Services. The Networks division currently comprises 37 retail stores and 4 distribution centres in WA, NSW, QLD, VIC and SA. The Services division provides water solutions to a broad range of customers including government, agriculture and mining across Australia and New Zealand.
“Together with the Total Eden management team, Anchorage have successfully steered the business through a challenging period of turnaround, business integration and performance improvement,” said Anchorage Managing Director and Total Eden Chairman, Daniel Wong.
“Our focus on enhancing the company’s internal systems and controls, products, brand and culture has underpinned a sustained increase in financial performance. Total Eden today is a market leading water solutions business with established national distribution footprint and end to end project delivery capabilities.” Ruralco’s announcement can be viewed here.
About Anchorage Capital Partners
Anchorage Capital Partners is a specialist Australian private equity firm that focuses on investing in companies which have strong and established track records, but are not achieving their full potential. The funds managed by Anchorage have $450 million in committed funds. Anchorage's partners and investment professionals have considerable experience in company management, corporate strategy, management consulting and corporate finance and have a long track record of successful partnerships with management teams.