5 cents from Goldinvest. The Australian cleantech company...

5 cents from Goldinvest. The Australian cleantech company Parkway Corporate (ASX: PWN; FRA: 4IP) has acquired the long-established Tankweld Group in Melbourne. Tankweld employs about 40 staff across Tankweld Engineering Service Pty Ltd and Tankweld Installations Pty Ltd, generating AUD 16.5 million in revenue and AUD 2 million EBITDA in fiscal 2023. Parkway, publicly listed, with approximately 30 employees, reported AUD 5 million in revenue for the same period. The combined entity projects over AUD 20 million in consolidated revenue for the current year, buoyed by identified synergies promising near-term profitability.Tankweld's history reaches back to 1940, serving as a comprehensive provider in water, oil and gas, and chemicals, from design to maintenance. It operates a 4,600 m² site with a 3,000 m² manufacturing facility. With an annual growth rate of 31% CAGR from 2020 to 2023, Tankweld has seen considerable expansion.The acquisition benefits both, with Parkway gaining crucial skills for its wastewater technology commercialization, avoiding high market costs and associated risks. It marks a growth avenue for Tankweld, now accessing advanced wastewater treatment technologies. The merger enhances offerings for the Parkway Group's clients, promising reliable turnkey solutions from a more substantial entity. Parkway anticipates increased interest from cleantech and growth-oriented funds and a potential revaluation as it nears profitability. Moreover, a "hockey stick" growth scenario is expected if its technology is applied to desalinate gas production residues in Queensland, attracting new investors.

https://goldinvest.de/cleantech-unternehmen-parkway-corporate-uebernimmt-etablierte-tankweld-gruppe/