McAleese snaps up IES from Champ


Queensland transport giant gets bigger with resources and liquids additions

April 10, 2012

Finance house Champ Private Equity has sold International Energy Services group to Queensland’s McAleese Group.

The deal is thought in some quarters, including the Wall Street Journal, to be worth about $300 million.

Law firm King & Wood Mallesons, which advised Champ on the sale, says the move "marks a milestone" for Champ as it is the last investment in Champ Fund 1, which was the inaugural private equity buyout fund set up by Champ Private Equity in 2000.

IES comprises four core businesses: Liquids, Asia, Resources and Equipment.

Of the local operations, IES Liquids is based around fuel trucking firm Cootes Transport, which Champ bought in 2005.

The main driver of IES Resources, focused on north Queensland bulk transport and quarry products, is Kiernan Transport, bought in 2006.

IES Equipment is split between Australia, with the Liquip road tanker components division, and the US, where Beta Fluid systems operates.

Former Asciano boss Mark Rowsthorn, said to be the non-executive chairman of McAleese, has been linked in news reports to the deal.

No comments were received from Champ or McAleese at deadline today.

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