Questas Group sold Waratah Engineering to HBT GmbH

Divest Merge Acquire advised Questas Group in the divestment of Waratah Engineering, a manufacturer and overhauler of underground mining equipment. Waratah Engineering was acquired by HBT GmbH, a German based mining equipment company.

About Waratah Engineering

Waratah Engineering was established in 1923 and is well known for remanufacturing of longwall roof supports, plus overhauls of continuous miners and roadheaders, as well as producing its own equipment such as the WaraCar shuttle car and WaraBolter. The company's facilities are in Argenton near Newcastle, NSW. The business provides a diverse range of services to the Australian mining industry including conventional overhauls, modified rebuilds, OEM supply, service work, spares and small repairs, and fleet hire. In December 2020, Questas acquired Waratah Engineering as part of the broader acquisition of Swanson Industries Australia (SIA).

About HBT GmbH

HBT (Hauhinco Mining Technology) is a world-class machine manufacturer and fully integrated single-solution provider, specialising in underground coal mining systems. The company exports its complete line of high-performance longwall mining equipment to all major mining markets worldwide.

www.hbt-group.com

The team at DMA ran a thorough and exhaustive marketing campaign for the business but were mindful of our preference for discretion. Interactions with potential purchasers were tracked and managed efficiently and transparently. The due diligence and transaction negotiation processes were handled professionally with the team being highly responsive to the needs of the various stakeholders. Ultimately, they achieved our key objectives of speed, certainty and value maximisation and it was a great experience working with them.

Iain Read, Questas Group

The team at DMA created a professional information memorandum that articulated business performance and inherent value in a clear and concise manner. The professionalism of the team throughout the negotiation process was evident and the team approached the process in a fair and equitable manner understanding both seller and potential buyer perspectives.

Kevin Parsons, HBT Group

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