Perth-based Safehouse Habitats and its UK-based parent, Starn Group, have successfully completed the acquisition of the ESPRAT group of companies based in Australia and Malaysia.
Safehouse said this latest expansion would extend the existing Starn footprint in these territories and strengthens its position in the region by providing a platform to further develop the Malaysian market for Safehouse habitats, and to provide the gas detection and related services of another Starn business, Sabre Safety Services.
Safehouse said the development would also broaden the range of services the group is able to offer in Malaysia, adds a drill pipe inspection service to complement its habitat services in Australia and would enable the Safehouse and ESPRAT Australian presence to be extended into South Australia.
In addition, the company said it had an opportunity to expand the group’s specialist training services.
Starn’s Asia-Pacific Regional Director, Olie Back, commented: “I am very excited that ESPRAT has now joined the Starn Group. We see great opportunity in the diversification of our service offering that ESPRAT will bring. We have worked very closely with ESPRAT for some time and have tremendous faith in their people. Exciting times ahead for the Starn Group in the Asia Pacific region.”
Safehouse said it expected the investment in ESPRAT “will provide a solid infrastructure on which to grow and is expected to be a good contributor to group profits over the coming years. Although the price remains undisclosed, the deal is attractive for the strategic goals that will be achieved and relative to the net assets acquired.”