Verbrec Sells Competency Training for $11.5 Million to Focus on Core Services

Verbrec Ltd ( (AU:VBC) ) has shared an update.

Verbrec Limited has announced the sale of its subsidiary, Competency Training Pty Ltd, to RelyOn Australia Pty Ltd for $11.5 million. This transaction is expected to enhance Verbrec’s financial position, allowing it to pursue growth opportunities and acquisitions that align with its strategic focus on energy transition and automation. The sale will enable Verbrec to concentrate on its core engineering and asset management services, while Competency Training will benefit from becoming part of a global training enterprise.

More about Verbrec Ltd

Verbrec Limited operates in the engineering sector, providing services in engineering, asset management, and operations & maintenance. The company focuses on energy transition and automation, aiming to deliver comprehensive lifecycle services for client assets.

Average Trading Volume: 264,476

Technical Sentiment Signal: Sell

Current Market Cap: A$27.46M

For detailed information about VBC stock, go to TipRanks’ Stock Analysis page.