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The acquisition is expected to double Emeco’s footprint in Western Australia, where both companies are headquartered. The buy follows a double merger with Orionstone and Andy’s Earthmovers.
Emeco will add 179 machines to its fleet with its Force purchase, giving it a new total of 897 units.
According to Australian media, Force – which supplies Caterpillar equipment mainly to gold and iron operations – had a fiscal 2016 net profit of $5.5 million from revenues of $86 million – with both figures down year-on-year.
Last fiscal year, Emeco’s net loss of $180 million, tightened up from the prior year’s net loss of $225 million. At that time, executives said the company would be pursuing opportunities for consolidation.
The transaction is expected to be completed by the end of this month.
