Norton Rose has advised Industrea Limited on its agreement with AJ Lucas Group Limited to purchase its Underground In-Seam Services Business for $25.5 million.
The assets acquired comprise drilling rigs, survey systems and associated inventory. Offers of employment have been made by Industrea to all staff associated with the business. Completion of the sale occurred on 15 March 2011.
The new business will be integrated into Industrea's new Gas Management Division and will allow Industrea to provide more advanced gas management solutions to domestic and international clients.
The Norton Rose team comprised Shaun Clyne, Ebony Keenan-Dunn, Judy Yeung and Katie Hegarty.