Wastech Field Service buyers sought urgently

By: Rob McKay


Waste and recycling equipment firm in administration

Wastech Field Service buyers sought urgently
Wastech Field Service is on the block

 

Wastech Field Service (WFS) is now under the control of PPB Advisory administrators.

The deadline for expressions of interest is today.

The move comes just five weeks after parent Wastech Engineering put the Tieman Tail Lift and Whiting Door divisions it bought in 2015 up for sale.

That Tieman brand has reportedly already been sold to new business Tuffman and Whiting Door to Southern States Group.

According to PPB, WFS services, repairs and refurbishes tail lifts, dock levellers, scissor lifts and materials handling equipment and employs service technicians from dedicated facilities.

It is said to have scored $9 million in 2016 financial year revenue and holds inventory worth $500,000-$1 million.

"We are running an urgent expressions-of-interest campaign seeking a buyer for Wastech Field Service," PPB Advisory partner Nicholas Martin tells ATN.

"We’re fielding strong interest and there’s a small window of opportunity for interested parties to submit bids by close of business Friday, 10 February.

"We hope to facilitate a quick sale and transfer the asset, with its team of qualified and experienced employees, to a new owner as a going concern."

PPB Advisory is no stranger to the wider truck-related industries, having been involved with Marchetti, Roadmaster Interstate, Gunns, Gregorys, Noske and Australian Renewable Fuels over the past 10 years.

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