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Babylon Pump & Power Ltd ( (AU:BPP) ) has shared an update.
Babylon Pump & Power Limited has announced its acquisition of Blue Hire, a Western Australian company specializing in pump hire, hydrotesting, and water project solutions. This strategic acquisition is expected to enhance Babylon’s rental platform by integrating Blue Hire’s complementary fleet, which serves various sectors such as mining and agriculture. The acquisition, funded through a new debt facility with NAB, positions Babylon for significant growth, with an anticipated revenue of $54 million and EBITDA of $14 million for FY24. Blue Hire’s founder, Byron Ynema, will join Babylon’s leadership team, ensuring operational continuity and leadership strength as the company scales its rental platform.
The most recent analyst rating on (AU:BPP) stock is a Buy with a A$0.01 price target. To see the full list of analyst forecasts on Babylon Pump & Power Ltd stock, see the AU:BPP Stock Forecast page.
More about Babylon Pump & Power Ltd
Babylon Pump & Power Limited is a specialist resources services provider operating in the equipment rental and advanced technical water services industry. The company focuses on high-margin rental segments and has been executing a growth strategy through acquisitions, including the recent proposal to acquire Matrix Hydro Services Pty Ltd.
Current Market Cap: A$16.87M
See more data about BPP stock on TipRanks’ Stock Analysis page.