DGL acquires Total Coolants

ASX RELEASE

22 April 2022

DGL Enhances Manufacturing Capacity with acquisition of Total Coolants.

Melbourne, Australia - DGL Group Limited (ASX:DGL) (NZX:DGC), (“DGL” or the “Company”), a specialist chemicals business that manufactures, transports, stores and processes chemicals and hazardous waste, today announced the strategic acquisition of Total Coolant Management Solutions Pty Ltd.

Total Coolants is a manufacturer and distributor of quality maintenance prevention products into the mining, marine, wind farms, power generation, agriculture sectors.

Primary activities include manufacturing of non-toxic coolant for all engine types, used to maintain engine temperature and alleviate corrosion.

Founder and CEO of DGL, Simon Henry, said: “The acquisition of Total Coolants will add to DGL’s mining product range.”

Total Coolants diversified customer base and geographical footprint further enhances the capabilities of DGL’s Chemical Manufacturing division, aligned with DGL’s cross-sell strategy.

The acquisition price of $2.47M represented a valuation of 2.7 x FY21 normalised EBITDA. Consideration:

(a) a cash payment of $2.17M; and
(b) $300,000 as ordinary shares in the capital of DGL, share price determined based on a 5-day VWAP at completion.

- ENDS -

Approved for release by the Board of DGL.

CONTACT

Barbara Furci
DGL Group Limited
+64 9 309 9254 or [email protected]

MEDIA ENQUIRIES

Aileen Bodart
Cannings Strategic Communications
+61 043 160 136 or [email protected]

ABOUT DGL GROUP LIMITED

DGL is a well-established, founder-led, end to end chemicals business that manufactures, transports, stores and manages the processing of chemicals and hazardous waste. The Company operates a network of 55 sites, both owned and leased, across Australia and New Zealand. The Company has a strong track record of revenue and earnings growth.

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Announcement PDF